Lecap Asset Management Ltd. Buys New Stake in McDonald’s Corporation $MCD

Lecap Asset Management Ltd. purchased a new stake in shares of McDonald’s Corporation (NYSE:MCD) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,937 shares of the fast-food giant’s stock, valued at approximately $566,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MCD. Nova Wealth Management Inc. purchased a new stake in McDonald’s during the first quarter valued at approximately $26,000. HFM Investment Advisors LLC bought a new stake in McDonald’s in the first quarter worth $26,000. Abound Financial LLC purchased a new position in McDonald’s during the first quarter worth $30,000. Redmont Wealth Advisors LLC purchased a new stake in shares of McDonald’s in the first quarter valued at $31,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of McDonald’s in the 1st quarter worth about $31,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $300.09 on Friday. The company has a market capitalization of $214.15 billion, a PE ratio of 25.71, a P/E/G ratio of 3.06 and a beta of 0.50. The company has a 50-day simple moving average of $306.88 and a two-hundred day simple moving average of $306.19. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data 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. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the prior year, the business posted $2.97 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $1.77 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.4%. McDonald’s’s dividend payout ratio is presently 60.67%.

Insider Activity at McDonald’s

In other news, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the sale, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares in the company, valued at approximately $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,402 shares of company stock worth $2,273,407. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the subject of several analyst reports. Citigroup raised their price objective on shares of McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. KeyCorp reissued an “overweight” rating and set a $335.00 target price (up from $325.00) on shares of McDonald’s in a research note on Thursday, August 7th. BMO Capital Markets upped their target price on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. TD Securities reissued a “hold” rating and issued a $305.00 price objective on shares of McDonald’s in a research note on Thursday, June 5th. Finally, JPMorgan Chase & Co. lifted their target price on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Hold” and a consensus target price of $325.86.

McDonald’s 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.