917 Shares in McDonald's Corporation $MCD Purchased by EdgeRock Capital LLC

Key Points

• EdgeRock Capital LLC has acquired a new stake in McDonald's Corporation, purchasing 917 shares valued at approximately $265,000.
• Analysts have varied opinions on the stock, with price targets ranging from $305.00 to $345.00, and a consensus rating of "Hold."
• McDonald's recently declared a quarterly dividend of $1.77 per share, reflecting a yield of 2.3% and a payout ratio of 60.67%.

EdgeRock Capital LLC purchased a new stake in McDonald's Corporation (NYSE:MCD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 917 shares of the fast-food giant's stock, valued at approximately $265,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Mascagni Wealth Management Inc. purchased a new position in McDonald's during the fourth quarter worth approximately $25,000. HFM Investment Advisors LLC purchased a new stake in shares of McDonald's during the 1st quarter valued at $26,000. Nova Wealth Management Inc. acquired a new stake in shares of McDonald's during the 1st quarter worth $26,000. Abound Financial LLC purchased a new position in shares of McDonald's in the 1st quarter worth $30,000. Finally, Copia Wealth Management acquired a new position in McDonald's in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 70.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. TD Securities restated a "hold" rating and set a $305.00 price target on shares of McDonald's in a research note on Thursday, June 5th. KeyCorp reissued an "overweight" rating and set a $335.00 target price (up previously from $325.00) on shares of McDonald's in a research report on Thursday, August 7th. Stifel Nicolaus raised their price target on shares of McDonald's from $300.00 to $315.00 and gave the company a "hold" rating in a report on Friday, August 22nd. TD Cowen lifted their price target on shares of McDonald's from $305.00 to $315.00 and gave the company a "hold" rating in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group raised shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price objective for the company in a research report on Thursday, July 10th. Eleven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $325.86.

Insiders Place Their Bets

In other news, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the transaction, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. This represents a 90.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the sale, the executive vice president directly owned 8,754 shares of the company's stock, valued at $2,713,740. The trade was a 22.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,402 shares of company stock valued at $2,273,407. Company insiders own 0.25% of the company's stock.

McDonald's Price Performance

McDonald's stock opened at $302.29 on Friday. McDonald's Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The company has a market capitalization of $215.72 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 3.10 and a beta of 0.50. The firm's fifty day moving average price is $306.31 and its 200 day moving average price is $306.15.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating analysts' consensus estimates of $3.15 by $0.04. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The company had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $6.68 billion. During the same period in the prior year, the company posted $2.97 EPS. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. Analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $1.77 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.3%. McDonald's's payout ratio is currently 60.67%.

McDonald's Profile

McDonald's Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.