Chicago Capital LLC Purchases 1,950 Shares of McDonald’s Co. (NYSE:MCD)

Chicago Capital LLC boosted its position in McDonald’s Co. (NYSE:MCD) by 13.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,858 shares of the fast-food giant’s stock after purchasing an additional 1,950 shares during the quarter. Chicago Capital LLC’s holdings in McDonald’s were worth $4,296,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new stake in McDonald’s in the 4th quarter worth approximately $2,684,899,000. Gallagher Fiduciary Advisors LLC increased 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 worth $1,664,521,000 after acquiring an additional 5,609,736 shares during the last quarter. Capital Research Global Investors increased 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 worth $1,542,550,000 after acquiring an additional 2,193,769 shares during the last quarter. Swedbank AB purchased a new position in shares of McDonald’s during the 1st quarter worth $348,206,000. Finally, Capital World Investors boosted its holdings in McDonald’s by 39.7% during 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 acquiring an additional 1,012,534 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MCD. Tigress Financial lifted their price objective on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup cut their target price on McDonald’s from $280.00 to $275.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. JPMorgan Chase & Co. cut their target price on McDonald’s from $290.00 to $270.00 and set an “overweight” rating on the stock in a research report 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 report on Tuesday, July 30th. Finally, KeyCorp reduced their price objective on McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus target price of $303.89.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the sale, the insider now owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the sale, the insider now owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,498 shares of the business’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 completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The disclosure for this sale can be found here. Insiders have sold 6,291 shares of company stock valued at $1,689,073 in the last quarter. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Up 0.5 %

McDonald’s stock traded up $1.54 during mid-day trading on Friday, hitting $289.51. 3,863,559 shares of the company’s stock traded hands, compared to its average volume of 3,505,613. The firm has a 50 day moving average price of $268.64 and a 200 day moving average price of $270.91. The company has a market cap of $208.64 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 3.86 and a beta of 0.72. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39.

McDonald’s (NYSE:MCD) last announced its 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 business 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%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.17 EPS. On average, analysts expect that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

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 paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s payout ratio is currently 56.71%.

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.