Oak Harvest Investment Services Purchases 1,569 Shares of McDonald's Corporation $MCD

Key Points

• Oak Harvest Investment Services has increased its stake in McDonald's Corporation ($MCD) by 6.4%, acquiring an additional 1,569 shares, bringing its total holdings to 26,072 shares valued at approximately $8.14 million.
• McDonald's reported earnings of $3.19 per share for the latest quarter, exceeding analyst estimates, and had revenues of $6.84 billion, reflecting a 5.4% increase year-over-year.
• The company announced a quarterly dividend of $1.77 per share, resulting in an annualized dividend yield of 2.3%, with the ex-dividend date set for September 2nd.

Oak Harvest Investment Services increased its position in McDonald's Corporation (NYSE:MCD - Free Report) by 6.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,072 shares of the fast-food giant's stock after purchasing an additional 1,569 shares during the quarter. Oak Harvest Investment Services' holdings in McDonald's were worth $8,144,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. WealthPlan Investment Management LLC raised its holdings in shares of McDonald's by 0.9% in the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant's stock valued at $1,134,000 after purchasing an additional 32 shares during the period. Granite Bay Wealth Management LLC raised its holdings in shares of McDonald's by 3.5% in the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock valued at $309,000 after purchasing an additional 33 shares during the period. CVA Family Office LLC raised its holdings in shares of McDonald's by 1.9% in the 1st quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock valued at $560,000 after purchasing an additional 33 shares during the period. Consilium Wealth Advisory LLC raised its holdings in shares of McDonald's by 2.5% in the 1st quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock valued at $417,000 after purchasing an additional 33 shares during the period. Finally, Security Financial Services INC. raised its holdings in shares of McDonald's by 0.7% in the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock valued at $1,575,000 after purchasing an additional 33 shares during the period. 70.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MCD. TD Securities reissued a "hold" rating and issued a $305.00 price target on shares of McDonald's in a report on Thursday, June 5th. The Goldman Sachs Group raised shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price target on the stock in a report on Thursday, July 10th. Evercore ISI increased their price target on shares of McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a report on Friday, August 8th. KeyCorp reissued an "overweight" rating and issued a $335.00 price target (up from $325.00) on shares of McDonald's in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of McDonald's from $305.00 to $310.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Thirteen analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $326.38.

McDonald's Trading Up 0.2%

Shares of MCD opened at $313.8010 on Friday. The firm's 50 day moving average is $299.02 and its 200-day moving average is $305.84. The stock has a market capitalization of $223.93 billion, a PE ratio of 26.89, a P/E/G ratio of 3.20 and a beta of 0.52. McDonald's Corporation has a 12 month low of $276.53 and a 12 month high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last released its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating analysts' consensus estimates of $3.15 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.The company's revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.97 EPS. Equities research analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's dividend payout ratio (DPR) is 60.67%.

Insider Activity

In related news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total value 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 trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the transaction, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,341 shares of company stock valued at $2,229,327. 0.25% of the stock is owned by insiders.

McDonald's Company 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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