McDonald’s Co. (NYSE:MCD) Shares Purchased by Synergy Asset Management LLC

Synergy Asset Management LLC increased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 40.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,606 shares of the fast-food giant’s stock after buying an additional 4,177 shares during the quarter. Synergy Asset Management LLC’s holdings in McDonald’s were worth $4,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in MCD. Cullinan Associates Inc. increased its stake in McDonald’s by 2.6% during the 1st quarter. Cullinan Associates Inc. now owns 89,522 shares of the fast-food giant’s stock valued at $25,241,000 after purchasing an additional 2,246 shares in the last quarter. Iams Wealth Management LLC grew its holdings in shares of McDonald’s by 1.0% during the first quarter. Iams Wealth Management LLC now owns 5,360 shares of the fast-food giant’s stock valued at $1,582,000 after buying an additional 51 shares during the last quarter. WESPAC Advisors SoCal LLC increased its position in shares of McDonald’s by 0.7% in the 1st quarter. WESPAC Advisors SoCal LLC now owns 23,233 shares of the fast-food giant’s stock valued at $6,551,000 after acquiring an additional 161 shares during the period. Congress Wealth Management LLC DE raised its stake in McDonald’s by 2.9% in the 1st quarter. Congress Wealth Management LLC DE now owns 56,553 shares of the fast-food giant’s stock worth $15,945,000 after acquiring an additional 1,586 shares during the last quarter. Finally, Oak Thistle LLC acquired a new stake in McDonald’s during the 1st quarter worth about $869,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total transaction of $291,377.87. Following the transaction, the insider now directly owns 15,878 shares in the company, valued at approximately $4,209,734.14. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the transaction, the insider now directly owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total transaction of $291,377.87. Following the completion of the sale, the insider now directly owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,095 shares of company stock worth $1,100,625. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MCD shares. Morgan Stanley reduced their price objective on McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. TD Cowen reaffirmed a “buy” rating and issued a $305.00 price objective on shares of McDonald’s in a report on Thursday, June 13th. The Goldman Sachs Group assumed coverage on shares of McDonald’s in a report on Thursday, June 13th. They set a “neutral” rating and a $288.00 target price for the company. Stifel Nicolaus cut their price target on McDonald’s from $315.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Finally, Citigroup reduced their price objective on McDonald’s from $312.00 to $297.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Ten investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.89.

McDonald’s Stock Down 0.8 %

Shares of NYSE MCD traded down $2.03 during midday trading on Tuesday, hitting $247.96. The stock had a trading volume of 1,687,387 shares, compared to its average volume of 3,419,828. The stock has a 50 day simple moving average of $263.31 and a 200-day simple moving average of $279.07. The company has a market capitalization of $178.70 billion, a PE ratio of 21.15, a P/E/G ratio of 2.87 and a beta of 0.71. McDonald’s Co. has a 1 year low of $245.73 and a 1 year high of $302.39.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter in the previous year, the business posted $2.63 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, analysts expect that McDonald’s Co. will post 12.19 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $6.68 annualized dividend and a yield of 2.69%. McDonald’s’s dividend payout ratio is presently 56.71%.

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.