tru Independence LLC Buys 44 Shares of McDonald’s Co. (NYSE:MCD)

tru Independence LLC boosted its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.0% in the second quarter, Holdings Channel reports. The firm owned 2,247 shares of the fast-food giant’s stock after acquiring an additional 44 shares during the period. tru Independence LLC’s holdings in McDonald’s were worth $573,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCD. Concentric Wealth Management LLC boosted its holdings in shares of McDonald’s by 1.4% during the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock worth $756,000 after buying an additional 35 shares during the period. FinTrust Capital Advisors LLC grew its position in shares of McDonald’s by 2.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock valued at $376,000 after purchasing an additional 36 shares during the last quarter. 9258 Wealth Management LLC increased its stake in shares of McDonald’s by 1.3% in the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock worth $799,000 after purchasing an additional 37 shares during the period. MTM Investment Management LLC lifted its position in shares of McDonald’s by 3.3% during the 1st quarter. MTM Investment Management LLC now owns 1,174 shares of the fast-food giant’s stock worth $331,000 after purchasing an additional 38 shares during the last quarter. Finally, Weatherly Asset Management L. P. boosted its stake in McDonald’s by 0.9% during the 1st quarter. Weatherly Asset Management L. P. now owns 4,378 shares of the fast-food giant’s stock valued at $1,234,000 after purchasing an additional 38 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Up 0.5 %

NYSE:MCD opened at $289.51 on Friday. The firm 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 12 month low of $243.53 and a 12 month high of $302.39. The company’s 50-day moving average price is $268.64 and its two-hundred day moving average price is $270.76.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the previous year, the firm earned $3.17 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. On average, research analysts expect that McDonald’s Co. will post 11.67 EPS 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. Stockholders of record on Tuesday, September 3rd will be paid a $1.67 dividend. The ex-dividend date of this dividend 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 (DPR) is presently 56.71%.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $446,721.60. The disclosure for this sale can be found here. Insiders sold 6,291 shares of company stock valued at $1,689,073 over the last ninety days. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MCD shares. KeyCorp dropped their price target on McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Jefferies Financial Group dropped their target price on shares of McDonald’s from $320.00 to $310.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. Bank of America reduced their price target on shares of 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 dropped their price objective on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Finally, TD Cowen cut shares of McDonald’s from a “buy” rating to a “hold” rating and reduced their target price for the company from $285.00 to $280.00 in a research note on Wednesday, July 31st. Eleven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and a consensus price target of $303.67.

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.