Waterfront Wealth Inc. Raises Stake in McDonald’s Co. (NYSE:MCD)

Waterfront Wealth Inc. lifted its position in McDonald’s Co. (NYSE:MCD) by 161.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,333 shares of the fast-food giant’s stock after purchasing an additional 3,291 shares during the period. Waterfront Wealth Inc.’s holdings in McDonald’s were worth $1,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. GUNN & Co INVESTMENT MANAGEMENT INC. lifted its holdings in shares of McDonald’s by 1,168.1% in the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 168,419 shares of the fast-food giant’s stock worth $49,938,000 after buying an additional 155,138 shares in the last quarter. Gilbert & Cook Inc. lifted its stake in McDonald’s by 20.7% in the fourth quarter. Gilbert & Cook Inc. now owns 4,384 shares of the fast-food giant’s stock worth $1,300,000 after purchasing an additional 753 shares during the last quarter. Aveo Capital Partners LLC boosted its holdings in McDonald’s by 14.5% during the 4th quarter. Aveo Capital Partners LLC now owns 1,899 shares of the fast-food giant’s stock valued at $563,000 after acquiring an additional 240 shares during the period. 9258 Wealth Management LLC lifted its holdings in McDonald’s by 4.2% during the 4th quarter. 9258 Wealth Management LLC now owns 2,796 shares of the fast-food giant’s stock valued at $829,000 after buying an additional 113 shares in the last quarter. Finally, Signature Resources Capital Management LLC bought a new position in McDonald’s in the fourth quarter worth approximately $31,000. 70.29% of the stock is currently owned by institutional investors.

Insider Activity at McDonald’s

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

Wall Street Analyst Weigh In

MCD has been the subject of several recent research reports. Jefferies Financial Group reduced their price target on shares of McDonald’s from $320.00 to $310.00 and set a “buy” rating for the company in a report on Monday, July 29th. Citigroup dropped their price objective on shares of McDonald’s from $280.00 to $275.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. 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. Evercore ISI upped their target price on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Finally, 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 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $303.71.

McDonald’s Trading Up 0.3 %

NYSE:MCD traded up $0.80 during trading hours on Friday, reaching $288.66. 2,528,549 shares of the company were exchanged, compared to its average volume of 3,381,473. The stock’s 50-day moving average is $265.62 and its 200-day moving average is $270.88. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $302.39. The firm has a market cap of $207.07 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 3.86 and a beta of 0.71.

McDonald’s (NYSE:MCD) last issued 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 178.68%. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the prior year, the business posted $3.17 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, research analysts anticipate that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Announces Dividend

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

McDonald’s Company 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.