EverSource Wealth Advisors LLC Acquires 1,198 Shares of McDonald’s Co. (NYSE:MCD)

EverSource Wealth Advisors LLC raised its holdings in shares of McDonald’s Co. (NYSE:MCD) by 19.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,499 shares of the fast-food giant’s stock after acquiring an additional 1,198 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in McDonald’s were worth $2,048,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Roffman Miller Associates Inc. PA grew its stake in shares of McDonald’s by 1.7% in the fourth quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant’s stock valued at $46,179,000 after buying an additional 2,546 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of McDonald’s in the fourth quarter valued at $4,286,000. Strait & Sound Wealth Management LLC bought a new position in shares of McDonald’s in the fourth quarter valued at $211,000. Main Street Research LLC grew its stake in shares of McDonald’s by 1.0% in the fourth quarter. Main Street Research LLC now owns 20,975 shares of the fast-food giant’s stock valued at $6,219,000 after buying an additional 199 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of McDonald’s by 9.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,091,052 shares of the fast-food giant’s stock valued at $321,449,000 after buying an additional 89,671 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

McDonald’s Trading Up 3.0 %

McDonald’s stock traded up $7.94 during midday trading on Friday, reaching $276.69. The company’s stock had a trading volume of 9,585,900 shares, compared to its average volume of 4,294,537. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $302.39. The business has a 50-day moving average price of $255.91 and a 200-day moving average price of $272.78. The stock has a market cap of $199.41 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 3.58 and a beta of 0.71.

McDonald’s (NYSE:MCD) last released its earnings results 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 178.92%. The business had revenue of $6.49 billion during 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 business’s revenue was down .1% on a year-over-year basis. As a group, research analysts predict that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s dividend payout ratio is presently 56.71%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MCD shares. Evercore ISI decreased their target price on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Bank of America cut their price target on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. Morgan Stanley cut their price target on McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. The Goldman Sachs Group started coverage on McDonald’s in a report on Thursday, June 13th. They set a “neutral” rating and a $288.00 price target for the company. Finally, Citigroup cut their price target on McDonald’s from $280.00 to $275.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $303.00.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Jonathan Banner sold 800 shares of McDonald’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the transaction, the executive vice president now owns 19 shares in the company, valued at $5,225.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, 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 transaction of $285,740.00. Following 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 is accessible through the SEC website. Also, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the sale, the executive vice president now owns 19 shares in the company, valued at $5,225.38. The disclosure for this sale can be found here. Insiders have sold a total of 5,594 shares of company stock worth $1,454,507 over the last 90 days. Insiders own 0.23% of the company’s stock.

McDonald’s Company 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.