Miramar Capital LLC Acquires 11,081 Shares of McDonald’s Co. (NYSE:MCD)

Miramar Capital LLC increased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 26.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,691 shares of the fast-food giant’s stock after buying an additional 11,081 shares during the quarter. McDonald’s accounts for approximately 3.4% of Miramar Capital LLC’s holdings, making the stock its 9th largest holding. Miramar Capital LLC’s holdings in McDonald’s were worth $13,683,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCD. Gallagher Fiduciary Advisors LLC raised its stake in shares of McDonald’s by 141,160.9% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after purchasing an additional 5,609,736 shares during the period. Capital Research Global Investors raised its stake in shares of McDonald’s by 66.9% in the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after purchasing an additional 2,193,769 shares during the period. Swedbank AB acquired a new stake in shares of McDonald’s in the 1st quarter valued at about $348,206,000. Capital World Investors raised its stake in shares of McDonald’s by 39.7% in the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after purchasing an additional 1,012,534 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of McDonald’s by 15.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after purchasing an additional 987,099 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Down 0.6 %

Shares of NYSE:MCD opened at $292.02 on Thursday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $302.39. The stock has a market cap of $210.45 billion, a PE ratio of 24.79, a P/E/G ratio of 3.88 and a beta of 0.72. The business has a 50 day moving average of $275.66 and a 200-day moving average of $270.68.

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

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.29%. McDonald’s’s payout ratio is 56.71%.

Insider Activity

In other 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 completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on 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 sale, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,291 shares of company stock worth $1,689,073. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

MCD has been the topic of several recent research reports. Bank of America dropped their price target on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. TD Cowen cut McDonald’s from a “buy” rating to a “hold” rating and decreased their price objective for the company from $285.00 to $280.00 in a report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on McDonald’s in a report on Thursday, June 13th. They issued a “neutral” rating and a $288.00 price objective for the company. Jefferies Financial Group raised their price objective on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. Finally, Barclays decreased their price objective on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average target price of $306.11.

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.