LPL Financial LLC Raises Holdings in McDonald's Corporation (NYSE:MCD)

Key Points

• LPL Financial LLC increased its holdings in McDonald's Corporation by 5.2%, acquiring an additional 64,593 shares, bringing its total ownership to approximately 1.31 million shares valued at $409.8 million.
• Insider sales reported indicate that Joseph M. Erlinger and Edith Morgan Flatley sold shares, with Erlinger decreasing their position by 9.19% and Flatley by 10.14%.
• McDonald's announced a quarterly dividend of $1.77 per share, with a yield of 2.37%, to be paid to shareholders of record on September 2nd.

LPL Financial LLC increased its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,311,971 shares of the fast-food giant's stock after purchasing an additional 64,593 shares during the quarter. LPL Financial LLC owned 0.18% of McDonald's worth $409,820,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Mascagni Wealth Management Inc. acquired a new stake in shares of McDonald's in the fourth quarter worth $25,000. Abound Financial LLC bought a new position in shares of McDonald's in the 1st quarter valued at about $30,000. Pinney & Scofield Inc. acquired a new stake in shares of McDonald's in the 4th quarter valued at approximately $29,000. Redmont Wealth Advisors LLC acquired a new stake in McDonald's during the 1st quarter worth approximately $31,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of McDonald's in the first quarter worth $31,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the sale, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the sale, the chief marketing officer owned 8,858 shares in the company, valued at approximately $2,657,400. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,817 shares of company stock worth $1,147,992. 0.25% of the stock is owned by company insiders.

McDonald's Stock Performance

NYSE MCD traded down $1.85 on Thursday, reaching $301.76. 949,666 shares of the stock traded hands, compared to its average volume of 3,579,241. The company has a market cap of $215.77 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 3.17 and a beta of 0.53. McDonald's Corporation has a 12 month low of $262.40 and a 12 month high of $326.32. The company has a fifty day moving average price of $299.96 and a 200-day moving average price of $303.25.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting the consensus estimate of $2.67. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The business's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.70 EPS. As a group, research analysts anticipate that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.35%. McDonald's's dividend payout ratio (DPR) is 62.49%.

Analyst Ratings Changes

Several research firms have commented on MCD. KeyCorp decreased their price objective on shares of McDonald's from $340.00 to $325.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. BMO Capital Markets restated an "outperform" rating and set a $345.00 price target (up from $340.00) on shares of McDonald's in a report on Monday, May 5th. Citigroup raised their price objective on McDonald's from $364.00 to $365.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Melius started coverage on shares of McDonald's in a report on Monday, July 14th. They set a "sell" rating and a $250.00 price objective on the stock. Finally, Morgan Stanley lifted their target price on McDonald's from $324.00 to $326.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, McDonald's has an average rating of "Hold" and an average target price of $323.39.

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.