Lansing Street Advisors Boosts Stake in McDonald’s Co. (NYSE:MCD)

Lansing Street Advisors grew its holdings in shares of McDonald’s Co. (NYSE:MCD) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,006 shares of the fast-food giant’s stock after purchasing an additional 330 shares during the quarter. McDonald’s makes up approximately 5.3% of Lansing Street Advisors’ holdings, making the stock its 3rd biggest position. Lansing Street Advisors’ holdings in McDonald’s were worth $12,744,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s during the 1st quarter valued at approximately $28,000. Clear Investment Research LLC purchased a new stake in shares of McDonald’s during the fourth quarter worth about $38,000. Kings Path Partners LLC purchased a new position in McDonald’s in the 2nd quarter worth approximately $38,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of McDonald’s during the fourth quarter valued at approximately $39,000. Finally, Accent Capital Management LLC bought a new position in shares of McDonald’s during the fourth quarter worth $44,000. Institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s 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 completion of the transaction, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was 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 directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,291 shares of company stock worth $1,689,073. 0.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group lifted their target price on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday. The Goldman Sachs Group assumed coverage on shares of McDonald’s in a report on Thursday, June 13th. They issued a “neutral” rating and a $288.00 target price for the company. KeyCorp dropped their price objective on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. BMO Capital Markets dropped their price target on McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Finally, Barclays lowered their price objective on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average price target of $304.41.

McDonald’s Stock Performance

Shares of MCD opened at $290.14 on Thursday. The stock has a 50-day moving average of $271.14 and a two-hundred day moving average of $270.66. The stock has a market cap of $209.10 billion, a P/E ratio of 24.63, a P/E/G ratio of 3.87 and a beta of 0.72. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 178.68% and a net margin of 32.25%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.17 earnings per share. Analysts predict that McDonald’s Co. will post 11.67 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. Stockholders of record on Tuesday, September 3rd will be paid a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.30%. McDonald’s’s payout ratio is 56.71%.

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.