Quarry LP Boosts Stake in McDonald’s Co. (NYSE:MCD)

Quarry LP raised its holdings in shares of McDonald’s Co. (NYSE:MCD) by 54.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 609 shares of the fast-food giant’s stock after buying an additional 215 shares during the quarter. Quarry LP’s holdings in McDonald’s were worth $155,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in McDonald’s during the first quarter worth about $28,000. Kings Path Partners LLC purchased a new position in McDonald’s during the second quarter worth about $38,000. Accent Capital Management LLC purchased a new position in McDonald’s during the fourth quarter worth about $44,000. Transcendent Capital Group LLC purchased a new position in McDonald’s during the fourth quarter worth about $45,000. Finally, Keener Financial Planning LLC grew its position in McDonald’s by 32.3% during the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after buying an additional 43 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

MCD stock opened at $304.37 on Tuesday. The business’s 50 day moving average price is $282.61 and its two-hundred day moving average price is $271.09. The company has a market capitalization of $219.35 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 3.99 and a beta of 0.72. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $306.96.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion for 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%. McDonald’s’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.17 earnings per share. Sell-side analysts forecast that McDonald’s Co. will post 11.69 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is currently 56.71%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MCD. Bank of America cut their price objective on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. Guggenheim upped their price objective on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. The Goldman Sachs Group upped their price objective on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. upped their price objective on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, KeyCorp cut their price objective on McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $308.22.

Insider Buying and Selling

In related news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $305.00, for a total value of $2,833,755.00. Following the completion of the transaction, the chief executive officer now directly owns 43,256 shares in the company, valued at $13,193,080. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,249 shares of company stock valued at $9,865,866. 0.23% of the stock is owned by company insiders.

About McDonald’s

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.