Van ECK Associates Corp Acquires 192 Shares of McDonald’s Co. (NYSE:MCD)

Van ECK Associates Corp increased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,358 shares of the fast-food giant’s stock after buying an additional 192 shares during the quarter. Van ECK Associates Corp’s holdings in McDonald’s were worth $4,169,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dixon Mitchell Investment Counsel Inc. bought a new position in McDonald’s in the first quarter valued at about $28,000. Clear Investment Research LLC bought a new position in McDonald’s in the fourth quarter valued at about $38,000. Kings Path Partners LLC bought a new position in McDonald’s in the second quarter valued at about $38,000. Atlantic Edge Private Wealth Management LLC bought a new position in McDonald’s in the fourth quarter valued at about $39,000. Finally, Accent Capital Management LLC bought a new position in McDonald’s in the fourth quarter valued at about $44,000. 70.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Bank of America dropped their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. JPMorgan Chase & Co. lowered their price objective on McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lowered their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Guggenheim raised their price objective on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, KeyCorp lowered their price objective on McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $303.89.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s 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 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following 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 accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,291 shares of company stock worth $1,689,073. 0.23% of the stock is owned by company insiders.

McDonald’s Stock Up 0.8 %

Shares of NYSE:MCD opened at $287.89 on Thursday. The business’s 50 day moving average is $267.35 and its 200 day moving average is $270.81. The stock has a market cap of $206.52 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 3.86 and a beta of 0.71. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $302.39.

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

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $1.67 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.32%. McDonald’s’s dividend payout ratio (DPR) is currently 56.71%.

McDonald’s 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.