McDonald’s Co. (NYSE:MCD) Shares Purchased by Harbour Investments Inc.

Harbour Investments Inc. grew its holdings in shares of McDonald’s Co. (NYSE:MCD) by 3.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,389 shares of the fast-food giant’s stock after purchasing an additional 588 shares during the period. Harbour Investments Inc.’s holdings in McDonald’s were worth $4,431,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. acquired a new stake in McDonald’s in the first quarter worth $28,000. Signature Resources Capital Management LLC acquired a new stake in shares of McDonald’s in the 4th quarter worth about $31,000. Clear Investment Research LLC bought a new stake in McDonald’s in the 4th quarter valued at about $38,000. Atlantic Edge Private Wealth Management LLC bought a new stake in McDonald’s in the 4th quarter valued at about $39,000. Finally, Accent Capital Management LLC bought a new position in McDonald’s in the 4th quarter worth about $44,000. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. The Goldman Sachs Group assumed coverage on McDonald’s in a research report on Thursday, June 13th. They set a “neutral” rating and a $288.00 price target for the company. Loop Capital lowered their price target on McDonald’s from $357.00 to $342.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. TD Cowen downgraded shares of McDonald’s from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $285.00 to $280.00 in a report on Wednesday, July 31st. Finally, Bank of America decreased their target price on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $303.71.

McDonald’s Trading Up 0.3 %

MCD stock traded up $0.96 during mid-day trading on Tuesday, hitting $289.64. The stock had a trading volume of 2,896,890 shares, compared to its average volume of 3,541,204. The firm has a market capitalization of $208.74 billion, a P/E ratio of 24.59, a P/E/G ratio of 3.58 and a beta of 0.71. The firm has a fifty day simple moving average of $262.85 and a 200 day simple moving average of $270.77. McDonald’s Co. has a 52 week low of $243.53 and a 52 week 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 for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.92%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the previous year, the business posted $3.17 earnings per share. The company’s revenue for the quarter was down .1% on a year-over-year basis. As a group, equities analysts expect that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm 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 dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s payout ratio is 56.71%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, 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 transaction of $285,480.00. Following the completion of the sale, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The transaction 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 shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the transaction, 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. In the last ninety days, insiders sold 4,793 shares of company stock worth $1,260,106. 0.23% of the stock is currently owned by company insiders.

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.