Sara Bay Financial Makes New Investment in McDonald’s Co. (NYSE:MCD)

Sara Bay Financial purchased a new stake in McDonald’s Co. (NYSE:MCD) during the second quarter, Holdings Channel reports. The institutional investor purchased 796 shares of the fast-food giant’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of McDonald’s in the 1st quarter valued at about $28,000. Signature Resources Capital Management LLC purchased a new position in McDonald’s in the fourth quarter valued at approximately $31,000. Clear Investment Research LLC acquired a new stake in McDonald’s during the fourth quarter worth approximately $38,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of McDonald’s during the 4th quarter worth approximately $39,000. Finally, Accent Capital Management LLC acquired a new position in shares of McDonald’s in the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 3.3 %

MCD stock traded up $9.06 on Monday, reaching $287.55. 5,158,816 shares of the company’s stock were exchanged, compared to its average volume of 3,579,280. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $302.39. The stock has a fifty day moving average of $258.71 and a 200-day moving average of $270.87. The firm has a market cap of $207.23 billion, a PE ratio of 24.36, a P/E/G ratio of 3.58 and a beta of 0.71.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period last year, the company earned $3.17 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities research analysts predict that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $1.67 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.32%. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MCD shares. KeyCorp cut their price target on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Jefferies Financial Group cut their target price on McDonald’s from $320.00 to $310.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. Wedbush reissued an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a research report on Monday, July 29th. The Goldman Sachs Group assumed coverage on McDonald’s in a research note on Thursday, June 13th. They set a “neutral” rating and a $288.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $303.71.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the transaction, the insider now owns 14,780 shares in the company, valued at $3,842,800. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total value of $291,377.87. Following the sale, the insider now owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the sale, the insider now owns 14,780 shares in the company, valued at approximately $3,842,800. The disclosure for this sale can be found here. Insiders have sold 4,794 shares of company stock valued at $1,234,491 in the last quarter. 0.23% of the stock is currently owned by corporate insiders.

About McDonald’s

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.