EverSource Wealth Advisors LLC Buys 639 Shares of McDonald’s Co. (NYSE:MCD)

EverSource Wealth Advisors LLC boosted its position in shares of McDonald’s Co. (NYSE:MCD) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,138 shares of the fast-food giant’s stock after acquiring an additional 639 shares during the period. EverSource Wealth Advisors LLC’s holdings in McDonald’s were worth $2,160,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s in the first quarter valued at about $28,000. Clear Investment Research LLC acquired a new position in shares of McDonald’s in the 4th quarter worth approximately $38,000. Kings Path Partners LLC acquired a new stake in McDonald’s in the 2nd quarter valued at $38,000. Accent Capital Management LLC bought a new stake in McDonald’s in the fourth quarter valued at $44,000. Finally, Transcendent Capital Group LLC bought a new position in shares of McDonald’s during the fourth quarter valued at $45,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MCD. TD Cowen cut shares of McDonald’s from a “buy” rating to a “hold” rating and dropped their target price for the stock from $285.00 to $280.00 in a research report on Wednesday, July 31st. Bank of America reduced their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Evercore ISI lifted their price objective on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Guggenheim increased their target price on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, KeyCorp lowered their target price on McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $306.11.

McDonald’s Price Performance

Shares of MCD stock opened at $296.83 on Monday. The stock has a market cap of $213.92 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 3.88 and a beta of 0.72. The stock has a 50-day moving average of $277.30 and a 200-day moving average of $270.57. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39.

McDonald’s (NYSE:MCD) last issued its earnings results 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 firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate 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 for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $3.17 EPS. As a group, research analysts anticipate that McDonald’s Co. will post 11.67 earnings per share for the current year.

McDonald’s Dividend Announcement

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

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,193 shares of company stock worth $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.