GGM Financials LLC Takes $683,000 Position in McDonald’s Co. (NYSE:MCD)

GGM Financials LLC acquired a new position in shares of McDonald’s Co. (NYSE:MCD) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,681 shares of the fast-food giant’s stock, valued at approximately $683,000. McDonald’s comprises approximately 0.6% of GGM Financials LLC’s portfolio, making the stock its 27th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in McDonald’s by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock worth $20,473,811,000 after purchasing an additional 599,745 shares in the last quarter. Norges Bank bought a new stake in shares of McDonald’s in the 4th quarter valued at $2,684,899,000. Price T Rowe Associates Inc. MD lifted its position in shares of McDonald’s by 15.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after acquiring an additional 987,099 shares during the period. Gallagher Fiduciary Advisors LLC lifted its position in shares of McDonald’s by 141,160.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after acquiring an additional 5,609,736 shares during the period. Finally, Capital Research Global Investors grew its holdings in McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after purchasing an additional 2,193,769 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Price Performance

MCD stock traded up $0.80 during midday trading on Friday, reaching $288.66. The company had a trading volume of 2,528,549 shares, compared to its average volume of 3,519,216. The firm has a 50-day moving average price of $265.04 and a 200-day moving average price of $271.00. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $302.39. The company has a market capitalization of $208.03 billion, a P/E ratio of 24.49, 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 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. The company’s revenue was down .1% compared to the same quarter last year. During the same period last year, the business posted $3.17 earnings per share. On average, equities analysts predict that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s payout ratio is 56.71%.

Insider Activity

In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the transaction, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,793 shares of company stock valued at $1,260,106. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Evercore ISI increased their price target on McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Loop Capital reduced their price target on shares of McDonald’s from $357.00 to $342.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Bank of America dropped their price objective on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. The Goldman Sachs Group began coverage on shares of McDonald’s in a report on Thursday, June 13th. They issued a “neutral” rating and a $288.00 target price on the stock. Finally, TD Cowen downgraded McDonald’s from a “buy” rating to a “hold” rating and cut their price target for the company from $285.00 to $280.00 in a research note on Wednesday, July 31st. Eleven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $303.71.

McDonald’s Profile

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.