PDS Planning Inc Grows Stake in McDonald’s Corporation $MCD

PDS Planning Inc grew its holdings in McDonald’s Corporation (NYSE:MCD) by 3.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,229 shares of the fast-food giant’s stock after acquiring an additional 128 shares during the period. PDS Planning Inc’s holdings in McDonald’s were worth $1,236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCD. Nova Wealth Management Inc. bought a new stake in shares of McDonald’s during the 1st quarter valued at about $26,000. HFM Investment Advisors LLC purchased a new stake in McDonald’s in the first quarter worth about $26,000. Abound Financial LLC bought a new position in shares of McDonald’s in the 1st quarter worth approximately $30,000. GFG Capital LLC bought a new position in shares of McDonald’s in the 2nd quarter worth approximately $29,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of McDonald’s in the 1st quarter worth approximately $31,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 1.1%

NYSE:MCD opened at $297.07 on Friday. The company’s 50 day moving average price is $306.31 and its 200-day moving average price is $305.79. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The stock has a market cap of $211.99 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 3.09 and a beta of 0.50.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (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 business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the prior year, the firm posted $2.97 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a $1.77 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.4%. McDonald’s’s payout ratio is presently 60.67%.

Insider Transactions at McDonald’s

In other news, EVP Jonathan Banner sold 1,000 shares of the business’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 owned 99 shares of the company’s stock, valued at $30,690. The trade was a 90.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the sale, the insider directly owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,402 shares of company stock worth $1,973,407. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MCD shares. TD Cowen upped their price target on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, August 6th. Citigroup lifted their price target on shares of McDonald’s from $373.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Melius began coverage on shares of McDonald’s in a research report on Monday, July 14th. They set a “sell” rating and a $250.00 price target for the company. Evercore ISI raised their target price on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Eleven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, McDonald’s has an average rating of “Hold” and an average price target of $325.18.

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.