COFG Advisors LLC Purchases Shares of 3,899 McDonald's Corporation $MCD

Key Points

• COFG Advisors LLC initiated a new position in McDonald’s during the fourth quarter, buying 3,899 shares valued at about $1.19 million. Other institutional investors also recently adjusted their holdings, and hedge funds now own 70.29% of the stock.
• McDonald’s reported better-than-expected quarterly earnings, with EPS of $2.83 versus estimates of $2.74 and revenue of $6.52 billion versus $6.47 billion expected. Revenue rose 9.4% year over year, and analysts still expect full-year EPS of 12.93.
• The company remains in focus for both strategy and market sentiment: it unveiled a new growth plan centered on automation, restaurant upgrades, and stronger marketing, while analysts note it is gaining share in a cautious consumer environment through value-focused offerings. Meanwhile, some insiders recently sold shares, and the stock was trading near $276.19, close to its 12-month low.

COFG Advisors LLC purchased a new stake in McDonald's Corporation (NYSE:MCD - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,899 shares of the fast-food giant's stock, valued at approximately $1,192,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in shares of McDonald's by 21.6% in the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant's stock valued at $2,692,000 after acquiring an additional 1,649 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of McDonald's by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant's stock valued at $563,000 after acquiring an additional 52 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of McDonald's by 11.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,017 shares of the fast-food giant's stock valued at $589,000 after acquiring an additional 206 shares during the last quarter. United Bank increased its holdings in shares of McDonald's by 6.0% in the 2nd quarter. United Bank now owns 8,102 shares of the fast-food giant's stock valued at $2,367,000 after acquiring an additional 459 shares during the last quarter. Finally, Schnieders Capital Management LLC. increased its holdings in shares of McDonald's by 2.5% in the 2nd quarter. Schnieders Capital Management LLC. now owns 12,938 shares of the fast-food giant's stock valued at $3,780,000 after acquiring an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company's stock.

More McDonald's News

Here are the key news stories impacting McDonald's this week:

• Positive Sentiment: McDonald’s unveiled “McDonald’s NEXT,” a companywide growth strategy focused on automation, improved restaurant design, better food quality, stronger customer service, and more effective social media marketing. Article Title
• Positive Sentiment: Analysts and recent commentary suggest McDonald’s is gaining market share in a cautious consumer environment by leaning on low-cost meals, menu innovation, and strong value marketing. Article Title
• Neutral Sentiment: McDonald’s also highlighted plans around restaurant operating efficiency and franchisee support, which could improve margins over time but will likely take time to show up in results. Article Title
• Neutral Sentiment: An executive vice president sold shares in a recent insider transaction, which is worth watching but is not necessarily a fundamental red flag on its own. Article Title

Insider Transactions at McDonald's

In related news, insider Joseph M. Erlinger sold 2,626 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $307.00, for a total transaction of $806,182.00. Following the completion of the sale, the insider owned 8,400 shares in the company, valued at $2,578,800. This represents a 23.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Desiree Ralls-Morrison sold 2,763 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $278.36, for a total value of $769,108.68. Following the sale, the executive vice president owned 6,268 shares of the company's stock, valued at approximately $1,744,760.48. The trade was a 30.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 8,681 shares of company stock worth $2,631,594. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on MCD. Morgan Stanley set a $331.00 price objective on McDonald's in a research note on Friday, May 8th. Argus upgraded McDonald's from a "hold" rating to a "buy" rating and set a $380.00 price objective for the company in a research note on Friday, February 13th. Wells Fargo & Company lowered their price objective on McDonald's from $355.00 to $320.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. Sanford C. Bernstein restated a "market perform" rating and set a $340.00 price objective on shares of McDonald's in a research note on Thursday, February 12th. Finally, JPMorgan Chase & Co. lowered their price objective on McDonald's from $325.00 to $305.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. Sixteen equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $334.45.

McDonald's Stock Down 1.1%

Shares of NYSE MCD opened at $276.19 on Tuesday. McDonald's Corporation has a 12 month low of $271.98 and a 12 month high of $341.75. The company has a market cap of $196.23 billion, a price-to-earnings ratio of 22.77, a P/E/G ratio of 2.78 and a beta of 0.41. The business has a fifty day simple moving average of $294.66 and a 200-day simple moving average of $308.42.

McDonald's (NYSE:MCD - Get Free Report) last announced its earnings results on Thursday, May 7th. The fast-food giant reported $2.83 EPS for the quarter, beating the consensus estimate of $2.74 by $0.09. The business had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.47 billion. McDonald's had a negative return on equity of 442.10% and a net margin of 31.62%.McDonald's's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.67 earnings per share. As a group, sell-side analysts expect that McDonald's Corporation will post 12.93 EPS for the current fiscal year.

McDonald's Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd will be issued a dividend of $1.86 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.7%. McDonald's's dividend payout ratio is currently 61.34%.

McDonald's Company Profile

McDonald's Corporation NYSE: MCD is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald's serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand's national and international expansion.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.