EFG Asset Management Americas Corp. Buys 1,684 Shares of McDonald’s Co. (NYSE:MCD)

EFG Asset Management Americas Corp. increased its stake in shares of McDonald’s Co. (NYSE:MCD) by 42.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,661 shares of the fast-food giant’s stock after acquiring an additional 1,684 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in McDonald’s were worth $1,443,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of MCD. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s during the 1st quarter valued at approximately $28,000. Clear Investment Research LLC purchased a new stake in McDonald’s during the fourth quarter valued at $38,000. Atlantic Edge Private Wealth Management LLC bought a new position in McDonald’s during the fourth quarter valued at $39,000. Kings Path Partners LLC bought a new stake in shares of McDonald’s in the 2nd quarter worth about $38,000. Finally, Accent Capital Management LLC bought a new stake in shares of McDonald’s in the 4th quarter worth about $44,000. 70.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, 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 transaction of $371,893.48. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Joseph M. Erlinger sold 1,099 shares of the business’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 transaction, the insider now directly owns 13,681 shares in the company, valued at approximately $3,557,060. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The disclosure for this sale can be found here. Insiders have sold a total of 6,291 shares of company stock worth $1,689,073 in the last ninety days. 0.23% of the stock is owned by insiders.

McDonald’s Trading Up 0.5 %

Shares of NYSE:MCD traded up $1.54 on Friday, reaching $289.51. The company had a trading volume of 3,863,559 shares, compared to its average volume of 3,505,613. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $302.39. The firm’s 50 day simple moving average is $268.64 and its 200-day simple moving average is $270.91. The firm has a market capitalization of $208.64 billion, a PE ratio of 24.58, a PEG ratio of 3.86 and a beta of 0.72.

McDonald’s (NYSE:MCD) last announced its quarterly 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 178.68%. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the prior year, the business posted $3.17 earnings per share. The company’s revenue was down .1% compared to the same quarter last year. As a group, equities research analysts predict that McDonald’s Co. will post 11.67 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $1.67 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.31%. McDonald’s’s dividend payout ratio is presently 56.71%.

Wall Street Analyst Weigh In

Several research analysts recently commented on MCD shares. The Goldman Sachs Group initiated coverage on McDonald’s in a research report on Thursday, June 13th. They issued a “neutral” rating and a $288.00 price target for the company. Tigress Financial boosted their target price on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday. Bank of America decreased their price target on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Evercore ISI lifted their price objective on shares of McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, KeyCorp reduced their target price on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average target price of $303.89.

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.