Morton Capital Management LLC CA Invests $284,000 in McDonald's Corporation $MCD

Key Points

• Morton Capital Management LLC invested $284,000 in McDonald's Corporation by purchasing 972 shares, reflecting a growing interest in the fast-food giant among institutional investors.
• Several analysts have raised their price targets for McDonald's stock, with Barclays increasing it to $360.00 and twelve analysts rating the stock as a Buy.
• McDonald’s reported quarterly earnings that exceeded estimates, achieving $3.19 EPS and $6.84 billion in revenue, contributing to a 5.4% year-over-year revenue increase.

Morton Capital Management LLC CA purchased a new position in shares of McDonald's Corporation (NYSE:MCD - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 972 shares of the fast-food giant's stock, valued at approximately $284,000.

Other large investors also recently modified their holdings of the company. First American Trust FSB raised its stake in shares of McDonald's by 55.9% in the first quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant's stock valued at $11,532,000 after purchasing an additional 13,234 shares in the last quarter. Banque Transatlantique SA raised its stake in shares of McDonald's by 58.0% in the first quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant's stock valued at $71,829,000 after purchasing an additional 91,313 shares in the last quarter. Hamilton Capital LLC raised its stake in shares of McDonald's by 35.2% in the first quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant's stock valued at $982,000 after purchasing an additional 819 shares in the last quarter. Red Door Wealth Management LLC raised its stake in shares of McDonald's by 1.9% in the first quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant's stock valued at $1,788,000 after purchasing an additional 109 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in McDonald's by 5.6% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant's stock worth $107,867,000 after acquiring an additional 18,393 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCD has been the subject of several recent analyst reports. TD Cowen increased their price objective on McDonald's from $305.00 to $315.00 and gave the stock a "hold" rating in a research note on Wednesday, August 6th. Morgan Stanley increased their price objective on McDonald's from $324.00 to $326.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Barclays increased their target price on McDonald's from $355.00 to $360.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Stifel Nicolaus increased their target price on McDonald's from $300.00 to $315.00 and gave the stock a "hold" rating in a report on Friday, August 22nd. Finally, JPMorgan Chase & Co. increased their target price on McDonald's from $305.00 to $310.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $325.86.

Insiders Place Their Bets

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was 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 approximately $2,657,400. The trade was a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the transaction, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,402 shares of company stock valued at $2,273,407 over the last 90 days. 0.25% of the stock is owned by insiders.

McDonald's Stock Up 0.1%

NYSE:MCD opened at $296.35 on Wednesday. The firm has a market capitalization of $211.47 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 3.01 and a beta of 0.50. McDonald's Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The stock's 50 day moving average price is $306.74 and its two-hundred day moving average price is $306.02.

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

McDonald's Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a dividend of $1.77 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.4%. McDonald's's payout ratio is presently 60.67%.

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.

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