Naviter Wealth LLC Boosts Stake in McDonald’s Co. (NYSE:MCD)

Naviter Wealth LLC increased its holdings in McDonald’s Co. (NYSE:MCD) by 9.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,293 shares of the fast-food giant’s stock after acquiring an additional 454 shares during the quarter. Naviter Wealth LLC’s holdings in McDonald’s were worth $1,349,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s in the first quarter worth $28,000. Clear Investment Research LLC bought a new stake in shares of McDonald’s in the 4th quarter worth about $38,000. Kings Path Partners LLC acquired a new stake in shares of McDonald’s in the 2nd quarter valued at about $38,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of McDonald’s during the fourth quarter worth about $39,000. Finally, Accent Capital Management LLC acquired a new position in McDonald’s in the fourth quarter worth about $44,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the sale, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the transaction, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The disclosure for this sale can be found here. Insiders sold 6,291 shares of company stock valued at $1,689,073 in the last quarter. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

McDonald’s stock opened at $285.52 on Wednesday. The company has a 50 day moving average price of $266.75 and a 200 day moving average price of $270.69. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $302.39. The firm has a market capitalization of $204.81 billion, a price-to-earnings ratio of 24.24, a P/E/G ratio of 3.86 and a beta of 0.71.

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

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a $1.67 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a yield of 2.34%. McDonald’s’s dividend payout ratio is presently 56.71%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Stifel Nicolaus reduced their price target on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Jefferies Financial Group decreased their target price on McDonald’s from $320.00 to $310.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Morgan Stanley dropped their target price on McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. reduced their price target on shares of McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $303.89.

About McDonald’s

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.