Sweeney & Michel LLC Invests $480,000 in McDonald’s Co. (NYSE:MCD)

Sweeney & Michel LLC bought a new stake in McDonald’s Co. (NYSE:MCD) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,772 shares of the fast-food giant’s stock, valued at approximately $480,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MCD. Dixon Mitchell Investment Counsel Inc. purchased a new stake in McDonald’s during the first quarter worth about $28,000. Signature Resources Capital Management LLC purchased a new stake in McDonald’s during the fourth quarter worth about $31,000. Clear Investment Research LLC purchased a new stake in McDonald’s during the fourth quarter worth about $38,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in McDonald’s during the fourth quarter worth about $39,000. Finally, Keener Financial Planning LLC purchased a new stake in McDonald’s during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Up 2.0 %

Shares of MCD stock traded up $5.10 during trading hours on Tuesday, hitting $266.52. 4,924,469 shares of the company’s stock were exchanged, compared to its average volume of 3,527,371. The company has a market capitalization of $192.08 billion, a PE ratio of 22.62, a PEG ratio of 2.92 and a beta of 0.71. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $302.39. The business’s 50 day simple moving average is $255.33 and its 200-day simple moving average is $273.10.

McDonald’s (NYSE:MCD) last posted its quarterly 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 business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The company’s revenue was down .1% compared to the same quarter last year. During the same period last year, the business posted $3.17 earnings per share. Equities analysts anticipate that McDonald’s Co. will post 12.05 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Insiders Place Their Bets

In other McDonald’s 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 transaction of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Jonathan Banner sold 800 shares of McDonald’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $275.02, for a total value of $220,016.00. Following the transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at $5,225.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the transaction, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,594 shares of company stock valued at $1,454,507. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wedbush restated an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a report on Monday. Erste Group Bank reiterated a “hold” rating on shares of McDonald’s in a research report on Wednesday, April 3rd. UBS Group cut their target price on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a research report on Friday, April 5th. KeyCorp cut their target price on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, TD Cowen reiterated a “buy” rating and set a $285.00 target price on shares of McDonald’s in a research report on Monday. Ten analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $302.82.

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.