Concurrent Investment Advisors LLC Grows Position in McDonald’s Co. (NYSE:MCD)

Concurrent Investment Advisors LLC increased its position in McDonald’s Co. (NYSE:MCD) by 5.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,231 shares of the fast-food giant’s stock after buying an additional 1,574 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in McDonald’s were worth $7,959,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in MCD. Vanguard Group Inc. raised its stake in McDonald’s by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock worth $20,473,811,000 after buying an additional 599,745 shares in the last quarter. Norges Bank bought a new position in shares of McDonald’s in the 4th quarter worth approximately $2,684,899,000. Price T Rowe Associates Inc. MD lifted its stake in shares of McDonald’s by 15.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after purchasing an additional 987,099 shares during the period. Gallagher Fiduciary Advisors LLC boosted its position in shares of McDonald’s by 141,160.9% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after purchasing an additional 5,609,736 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after purchasing an additional 2,193,769 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCD has been the subject of several recent research reports. Loop Capital lowered their price objective on McDonald’s from $357.00 to $342.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Jefferies Financial Group lowered their price target on shares of McDonald’s from $320.00 to $310.00 and set a “buy” rating for the company in a research report on Monday, July 29th. TD Cowen cut shares of McDonald’s from a “buy” rating to a “hold” rating and cut their price objective for the stock from $285.00 to $280.00 in a report on Wednesday, July 31st. Wedbush reiterated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a report on Monday, July 29th. Finally, KeyCorp dropped their price target on McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $303.71.

McDonald’s Stock Up 0.3 %

Shares of McDonald’s stock opened at $288.66 on Friday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $302.39. The company’s 50 day moving average is $265.62 and its 200 day moving average is $270.88. The company has a market cap of $207.07 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 3.86 and a beta of 0.71.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. McDonald’s’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.17 earnings per share. Sell-side analysts expect that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a yield of 2.31%. McDonald’s’s payout ratio is 56.71%.

Insider Buying and Selling at McDonald’s

In other news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the transaction, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. The disclosure for this sale can be found here. Insiders sold a total of 4,793 shares of company stock worth $1,260,106 in the last three months. 0.23% of the stock is currently owned by company insiders.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.