Optimist Retirement Group LLC Acquires 296 Shares of McDonald’s Co. (NYSE:MCD)

Optimist Retirement Group LLC boosted its holdings in shares of McDonald’s Co. (NYSE:MCD) by 4.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,876 shares of the fast-food giant’s stock after buying an additional 296 shares during the period. Optimist Retirement Group LLC’s holdings in McDonald’s were worth $1,752,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. acquired a new position in McDonald’s during the 1st quarter valued at about $28,000. Clear Investment Research LLC bought a new position in shares of McDonald’s in the fourth quarter valued at approximately $38,000. Kings Path Partners LLC purchased a new position in shares of McDonald’s during the second quarter valued at approximately $38,000. Accent Capital Management LLC bought a new stake in McDonald’s during the fourth quarter worth $44,000. Finally, Transcendent Capital Group LLC purchased a new stake in McDonald’s in the 4th quarter valued at $45,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Price Performance

Shares of MCD stock opened at $292.02 on Thursday. The stock has a market capitalization of $210.45 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 3.88 and a beta of 0.72. The company’s fifty day simple moving average is $275.66 and its two-hundred day simple moving average is $270.68. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $302.39.

McDonald’s (NYSE:MCD) last released 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 net margin of 32.25% and a negative return on equity of 178.68%. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the previous year, the firm posted $3.17 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. Equities research analysts anticipate that McDonald’s Co. will post 11.67 EPS 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 issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the firm’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 transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,291 shares of company stock valued at $1,689,073. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MCD. Citigroup lifted their price objective on shares of McDonald’s from $275.00 to $301.00 and gave the stock a “neutral” rating in a report on Friday, September 13th. BMO Capital Markets reduced their price objective on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Truist Financial cut their target price on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Finally, TD Cowen downgraded McDonald’s from a “buy” rating to a “hold” rating and decreased their price target for the company from $285.00 to $280.00 in a research report on Wednesday, July 31st. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.