Cove Private Wealth LLC Buys 518 Shares of McDonald’s Corporation (NYSE:MCD)

Cove Private Wealth LLC lifted its stake in McDonald’s Corporation (NYSE:MCD) by 19.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,175 shares of the fast-food giant’s stock after buying an additional 518 shares during the period. Cove Private Wealth LLC’s holdings in McDonald’s were worth $992,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Mascagni Wealth Management Inc. bought a new stake in McDonald’s during the fourth quarter worth $25,000. Pinney & Scofield Inc. bought a new stake in McDonald’s during the fourth quarter worth $29,000. GKV Capital Management Co. Inc. bought a new position in shares of McDonald’s in the 4th quarter valued at $30,000. Abound Financial LLC bought a new position in shares of McDonald’s in the 1st quarter valued at $30,000. Finally, Copia Wealth Management bought a new position in shares of McDonald’s in the 4th quarter valued at $31,000. 70.29% of the stock is currently owned by institutional investors.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the transaction, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 976 shares of McDonald’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $303.50, for a total value of $296,216.00. Following the transaction, the chief marketing officer owned 7,882 shares of the company’s stock, valued at $2,392,187. This trade represents a 11.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,280 shares of company stock worth $2,215,178 in the last three months. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MCD. Barclays increased their price target on McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday. Bank of America dropped their price target on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Melius began coverage on McDonald’s in a research note on Monday, July 14th. They issued a “sell” rating and a $250.00 price target for the company. BTIG Research reiterated a “neutral” rating on shares of McDonald’s in a research note on Tuesday, April 22nd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $350.00 price target (up from $345.00) on shares of McDonald’s in a research note on Thursday. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $326.87.

McDonald’s Trading Down 0.7%

Shares of McDonald’s stock opened at $305.62 on Monday. The business has a 50-day moving average price of $298.57 and a two-hundred day moving average price of $304.63. McDonald’s Corporation has a 1-year low of $265.33 and a 1-year high of $326.32. The company has a market cap of $218.09 billion, a P/E ratio of 26.19, a PEG ratio of 3.12 and a beta of 0.52.

McDonald’s (NYSE:MCD) last issued its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating the consensus estimate of $3.15 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $2.97 EPS. Equities research analysts forecast that McDonald’s Corporation will post 12.25 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 16th. Stockholders of record on Tuesday, September 2nd will be paid a $1.77 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.