AlphaCore Capital LLC Boosts Stake in McDonald's Corporation (NYSE:MCD)

Key Points

• AlphaCore Capital LLC increased its stake in McDonald's by 113.0% during the first quarter, now holding 10,518 shares valued at approximately $3,285,000.
• Several other institutional investors have made significant moves with McDonald's stock, with GAMMA Investing LLC increasing its holdings by an astounding 39,039.7%.
• McDonald's recently declared a quarterly dividend of $1.77 per share, with a dividend yield of 2.3%, to be paid on September 16th.

AlphaCore Capital LLC increased its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 113.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,518 shares of the fast-food giant's stock after purchasing an additional 5,579 shares during the period. AlphaCore Capital LLC's holdings in McDonald's were worth $3,285,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in McDonald's by 39,039.7% in the first quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant's stock valued at $1,092,645,000 after acquiring an additional 3,488,982 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in McDonald's in the fourth quarter valued at approximately $350,935,000. Northern Trust Corp grew its stake in McDonald's by 11.2% in the fourth quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant's stock valued at $2,570,511,000 after acquiring an additional 895,896 shares during the period. Goldman Sachs Group Inc. grew its stake in McDonald's by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant's stock valued at $1,556,485,000 after acquiring an additional 815,768 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in McDonald's in the fourth quarter valued at approximately $211,824,000. Institutional investors and hedge funds own 70.29% of the company's stock.

McDonald's Price Performance

Shares of MCD traded down $2.29 during mid-day trading on Friday, hitting $305.62. The stock had a trading volume of 2,621,959 shares, compared to its average volume of 3,681,905. The firm has a market cap of $218.09 billion, a P/E ratio of 26.19, a PEG ratio of 3.19 and a beta of 0.52. The business has a fifty day moving average price of $298.57 and a 200-day moving average price of $304.49. McDonald's Corporation has a 52 week low of $265.33 and a 52 week high of $326.32.

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

McDonald's Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. McDonald's's payout ratio is presently 60.67%.

Insider Activity at McDonald's

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of the business's stock in a transaction 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 in the company, valued at approximately $2,713,740. The trade was a 22.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Edith Morgan Flatley sold 976 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $303.50, for a total value of $296,216.00. Following the sale, the chief marketing officer owned 7,882 shares in the company, valued at approximately $2,392,187. The trade was a 11.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,280 shares of company stock worth $2,215,178. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of research reports. The Goldman Sachs Group raised McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price objective for the company in a research note on Thursday, July 10th. Bank of America reduced their price objective on McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Redburn Atlantic reaffirmed a "sell" rating and set a $260.00 target price (down previously from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. Robert W. Baird lifted their target price on McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, Barclays lifted their target price on McDonald's from $355.00 to $360.00 and gave the company an "overweight" rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $326.87.

About McDonald's

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.