LeConte Wealth Management LLC Makes New Investment in McDonald's Corporation $MCD

Key Points

• LeConte Wealth Management LLC acquired a new stake in McDonald's Corporation, purchasing 888 shares valued at approximately $277,000.
• McDonald's reported earnings of $3.19 per share for the last quarter, surpassing analysts' expectations of $3.15, alongside a revenue of $6.84 billion.
• The company declared a quarterly dividend of $1.77 per share, with an annualized yield of 2.3%, set to be paid on September 16th.

LeConte Wealth Management LLC bought a new position in shares of McDonald's Corporation (NYSE:MCD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 888 shares of the fast-food giant's stock, valued at approximately $277,000.

Several other institutional investors have also recently bought and sold shares of the business. Mascagni Wealth Management Inc. bought a new stake in shares of McDonald's during the fourth quarter worth about $25,000. Abound Financial LLC acquired a new position in shares of McDonald's in the first quarter worth approximately $30,000. Pinney & Scofield Inc. acquired a new position in shares of McDonald's in the fourth quarter worth approximately $29,000. Redmont Wealth Advisors LLC acquired a new position in shares of McDonald's in the first quarter worth approximately $31,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of McDonald's in the first quarter worth approximately $31,000. Institutional investors and hedge funds own 70.29% of the company's stock.

Insider Activity at McDonald's

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares of the company's stock, valued at $2,713,740. This represents a 22.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer directly owned 8,858 shares of the company's stock, valued at $2,657,400. This represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,280 shares of company stock valued at $2,525,178 over the last quarter. 0.25% of the stock is currently owned by insiders.

McDonald's Stock Up 0.0%

MCD traded up $0.0750 during trading on Thursday, hitting $313.1550. 2,274,012 shares of the company's stock were exchanged, compared to its average volume of 3,601,825. The stock has a market cap of $223.47 billion, a P/E ratio of 26.83, a PEG ratio of 3.17 and a beta of 0.52. The business's 50 day moving average is $298.57 and its two-hundred day moving average is $305.40. McDonald's Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings data 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 net margin of 32.21% and a negative return on equity of 225.52%. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the prior year, the firm posted $2.97 EPS. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given 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 of this dividend is Tuesday, September 2nd. McDonald's's dividend payout ratio is currently 60.67%.

Analyst Ratings Changes

A number of equities analysts recently commented on MCD shares. BMO Capital Markets reaffirmed an "outperform" rating and issued a $350.00 price objective (up from $345.00) on shares of McDonald's in a research note on Thursday, August 7th. The Goldman Sachs Group raised McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price objective on the stock in a research note on Thursday, July 10th. JPMorgan Chase & Co. boosted their price target on McDonald's from $305.00 to $310.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Northcoast Research cut McDonald's from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. Finally, Robert W. Baird boosted their target price on shares of McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Thirteen analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, McDonald's has a consensus rating of "Hold" and a consensus price target of $326.87.

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.