McDonald's Corporation $MCD Shares Purchased by Turtle Creek Wealth Advisors LLC

Key Points

• Turtle Creek Wealth Advisors increased its McDonald’s stake by 17.6% in the second quarter, adding 9,455 shares to own 63,139 shares worth approximately $17.1 million. Institutional investors and hedge funds collectively own 70.29% of MCD.
• McDonald’s reported quarterly EPS of $3.38, beating estimates of $3.32, while revenue rose 3.7% year over year to $7.10 billion but came slightly below expectations.
• The company declared a quarterly dividend of $1.86 per share, equal to an annualized $7.44 payout and a 2.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $325.44.

Turtle Creek Wealth Advisors LLC increased its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 17.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,139 shares of the fast-food giant's stock after buying an additional 9,455 shares during the period. McDonald's comprises 0.9% of Turtle Creek Wealth Advisors LLC's investment portfolio, making the stock its 27th largest holding. Turtle Creek Wealth Advisors LLC's holdings in McDonald's were worth $17,066,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MCD. Your Advocates Ltd. LLP acquired a new position in shares of McDonald's in the fourth quarter worth $27,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of McDonald's in the fourth quarter valued at $29,000. Abound Financial LLC purchased a new position in McDonald's in the fourth quarter valued at $30,000. DecisionPoint Financial LLC grew its stake in McDonald's by 1,616.7% during the 4th quarter. DecisionPoint Financial LLC now owns 103 shares of the fast-food giant's stock worth $31,000 after purchasing an additional 97 shares in the last quarter. Finally, Entrust Financial LLC acquired a new position in McDonald's during the 4th quarter worth $31,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald's Price Performance

McDonald's stock opened at $272.28 on Friday. McDonald's Corporation has a 1-year low of $260.96 and a 1-year high of $341.75. The stock has a market cap of $192.68 billion, a PE ratio of 22.12, a P/E/G ratio of 3.09 and a beta of 0.41. The stock's fifty day moving average is $273.95 and its two-hundred day moving average is $295.44.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The fast-food giant reported $3.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.32 by $0.06. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.13 billion. McDonald's had a negative return on equity of 512.80% and a net margin of 31.72%.McDonald's's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.19 EPS. On average, research analysts expect that McDonald's Corporation will post 12.88 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be paid a dividend of $1.86 per share. The ex-dividend date is Tuesday, September 1st. This represents a $7.44 annualized dividend and a yield of 2.7%. McDonald's's payout ratio is presently 60.44%.

Insider Buying and Selling

In other McDonald's news, insider Joseph M. Erlinger sold 5,252 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $284.32, for a total transaction of $1,493,248.64. Following the sale, the insider owned 7,734 shares of the company's stock, valued at approximately $2,198,930.88. This trade represents a 40.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 2,763 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $278.36, for a total transaction of $769,108.68. Following the sale, the executive vice president owned 6,268 shares of the company's stock, valued at $1,744,760.48. This represents a 30.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,348 shares of company stock valued at $2,355,634 over the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MCD. JPMorgan Chase & Co. reduced their price target on McDonald's from $325.00 to $305.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. Royal Bank Of Canada lowered their price objective on McDonald's from $305.00 to $295.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 5th. Sanford C. Bernstein restated a "market perform" rating and set a $295.00 target price on shares of McDonald's in a research note on Wednesday, August 5th. Freedom Capital raised shares of McDonald's from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Finally, Morgan Stanley decreased their price target on shares of McDonald's from $322.00 to $319.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, McDonald's has a consensus rating of "Moderate Buy" and a consensus price target of $325.44.

Key Stories Impacting McDonald's

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

• Positive Sentiment: Nationwide menu initiatives, including new energy-focused beverages, seven menu additions, and the limited-time Hello Kitty and Godzilla Happy Meal promotion, could support traffic, customer engagement, and comparable-sales growth. McDonald’s serving up new kind of energy boost on menus nationwide
• Positive Sentiment: Some analysts see potential upside toward the mid-$300s if McDonald’s improves U.S. same-store sales and executes its McDonald’s NEXT strategy effectively. The company also continues to benefit from its large franchise and real-estate platform. McDonald’s stock gets fair value trim as analysts split on U.S. execution

McDonald's 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source