Ascent Group LLC Buys 1,693 Shares of McDonald's Corporation $MCD

Key Points

• Ascent Group LLC has increased its holdings in McDonald's by 10.7%, purchasing an additional 1,693 shares, bringing its total ownership to 17,524 shares valued at approximately $5.47 million.
• McDonald's recently reported an earnings per share of $3.19, surpassing analysts' expectations, and announced a quarterly dividend of $1.77 to be paid to shareholders.
• Despite positive earnings, McDonald's stock has decreased by 0.8% recently, with brokerages giving mixed reviews, including a consensus rating of "Hold" and a price target averaging around $325.35.

Ascent Group LLC grew its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 10.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,524 shares of the fast-food giant's stock after purchasing an additional 1,693 shares during the quarter. Ascent Group LLC's holdings in McDonald's were worth $5,474,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. WealthPlan Investment Management LLC boosted its position in McDonald's by 0.9% in the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant's stock valued at $1,134,000 after buying an additional 32 shares during the last quarter. Granite Bay Wealth Management LLC grew its position in shares of McDonald's by 3.5% in the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock worth $309,000 after acquiring an additional 33 shares in the last quarter. CVA Family Office LLC increased its stake in McDonald's by 1.9% during the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock valued at $560,000 after purchasing an additional 33 shares during the last quarter. Consilium Wealth Advisory LLC lifted its position in shares of McDonald's by 2.5% in the 1st quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock worth $417,000 after buying an additional 33 shares during the last quarter. Finally, Security Financial Services INC. lifted its holdings in McDonald's by 0.7% in the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock worth $1,575,000 after acquiring an additional 33 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Jonathan Banner sold 1,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were 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 owned 99 shares of the company's stock, valued at approximately $30,690. This represents a 90.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the transaction, the chief marketing officer directly owned 6,858 shares of the company's stock, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,341 shares of company stock valued at $2,544,327. Corporate insiders own 0.25% of the company's stock.

McDonald's Trading Up 0.8%

McDonald's stock traded up $2.38 during mid-day trading on Thursday, hitting $308.32. 2,760,350 shares of the company's stock were exchanged, compared to its average volume of 2,936,050. The stock has a 50 day moving average of $304.80 and a two-hundred day moving average of $306.60. McDonald's Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The stock has a market cap of $220.02 billion, a P/E ratio of 26.42, a P/E/G ratio of 3.12 and a beta of 0.50.

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

McDonald's Announces Dividend

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

Wall Street Analyst Weigh In

MCD has been the topic of several analyst reports. TD Cowen increased their target price on McDonald's from $305.00 to $315.00 and gave the stock a "hold" rating in a research report on Wednesday, August 6th. Bank of America reduced their price target on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Melius initiated coverage on McDonald's in a research note on Monday, July 14th. They issued a "sell" rating and a $250.00 price objective on the stock. Citigroup increased their target price on shares of McDonald's from $364.00 to $365.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, BMO Capital Markets upped their target price on McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $325.14.

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.