Asset Management Group Inc. Acquires 61 Shares of McDonald’s Co. (NYSE:MCD)

Asset Management Group Inc. boosted its holdings in McDonald’s Co. (NYSE:MCD) by 6.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,053 shares of the fast-food giant’s stock after purchasing an additional 61 shares during the quarter. Asset Management Group Inc.’s holdings in McDonald’s were worth $268,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MCD. Concentric Wealth Management LLC increased its holdings in McDonald’s by 1.4% in the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after acquiring an additional 35 shares during the last quarter. FinTrust Capital Advisors LLC boosted its position in shares of McDonald’s by 2.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock valued at $376,000 after acquiring an additional 36 shares during the last quarter. 9258 Wealth Management LLC increased its position in McDonald’s by 1.3% in the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock worth $799,000 after purchasing an additional 37 shares during the last quarter. MTM Investment Management LLC increased its holdings in shares of McDonald’s by 3.3% in the 1st quarter. MTM Investment Management LLC now owns 1,174 shares of the fast-food giant’s stock worth $331,000 after buying an additional 38 shares during the last quarter. Finally, Weatherly Asset Management L. P. increased its position in shares of McDonald’s by 0.9% during the 1st quarter. Weatherly Asset Management L. P. now owns 4,378 shares of the fast-food giant’s stock valued at $1,234,000 after purchasing an additional 38 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. KeyCorp cut their price objective on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft cut their target price on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Evercore ISI boosted their price objective on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Monday, August 19th. TD Cowen lowered McDonald’s from a “buy” rating to a “hold” rating and reduced their target price for the stock from $285.00 to $280.00 in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus cut their price target on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $306.11.

McDonald’s Stock Performance

Shares of MCD stock opened at $296.77 on Friday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $302.39. The stock’s 50-day simple moving average is $277.30 and its 200-day simple moving average is $270.88. The firm has a market capitalization of $213.88 billion, a PE ratio of 25.19, a P/E/G ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s revenue was down .1% on a year-over-year basis. During the same period last year, the company earned $3.17 earnings per share. Sell-side analysts forecast that McDonald’s Co. will post 11.67 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Tuesday, September 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the transaction, the insider now owns 13,681 shares in the company, valued at $3,557,060. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the sale, the insider now owns 13,681 shares in the company, valued at $3,557,060. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Tuesday, September 3rd. The stock was 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 5,193 shares of company stock valued at $1,403,593. Corporate insiders own 0.23% of the company’s stock.

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.