Edge Wealth Management LLC Acquires 164 Shares of McDonald’s Co. (NYSE:MCD)

Edge Wealth Management LLC lifted its stake in shares of McDonald’s Co. (NYSE:MCD) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,918 shares of the fast-food giant’s stock after purchasing an additional 164 shares during the period. McDonald’s accounts for 1.5% of Edge Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Edge Wealth Management LLC’s holdings in McDonald’s were worth $7,308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of MCD. Signature Resources Capital Management LLC bought a new position in McDonald’s in the 4th quarter worth about $31,000. Spartan Planning & Wealth Management bought a new position in McDonald’s in the 3rd quarter worth about $33,000. Clear Investment Research LLC bought a new stake in shares of McDonald’s during the 4th quarter valued at about $38,000. Keener Financial Planning LLC purchased a new position in shares of McDonald’s during the fourth quarter worth about $39,000. Finally, Atlantic Edge Private Wealth Management LLC bought a new position in shares of McDonald’s in the fourth quarter worth approximately $39,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at $5,225.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the transaction, the insider now directly owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,095 shares of company stock worth $1,100,625. 0.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley cut their price objective on McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Erste Group Bank reaffirmed a “hold” rating on shares of McDonald’s in a research note on Wednesday, April 3rd. TD Cowen reissued a “buy” rating and set a $305.00 price target on shares of McDonald’s in a research report on Thursday, June 13th. Bank of America reduced their price objective on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating for the company in a research note on Tuesday, May 28th. Finally, Robert W. Baird decreased their price target on McDonald’s from $305.00 to $300.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $315.14.

McDonald’s Price Performance

NYSE MCD traded up $0.37 during trading on Friday, reaching $258.54. 416,454 shares of the company’s stock traded hands, compared to its average volume of 3,361,066. The firm has a market cap of $186.32 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 2.90 and a beta of 0.71. The company’s 50 day simple moving average is $263.91 and its two-hundred day simple moving average is $279.67. McDonald’s Co. has a 12-month low of $245.73 and a 12-month high of $302.39.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter in the prior year, the company posted $2.63 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Research analysts expect that McDonald’s Co. will post 12.19 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.58%. McDonald’s’s dividend payout ratio is currently 56.71%.

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.