Studio Investment Management LLC Purchases 136 Shares of McDonald’s Co. (NYSE:MCD)

Studio Investment Management LLC lifted its holdings in McDonald’s Co. (NYSE:MCD) by 19.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 836 shares of the fast-food giant’s stock after purchasing an additional 136 shares during the quarter. Studio Investment Management LLC’s holdings in McDonald’s were worth $213,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Aigen Investment Management LP bought a new stake in shares of McDonald’s in the 4th quarter worth about $4,286,000. Strait & Sound Wealth Management LLC bought a new stake in McDonald’s during the fourth quarter worth approximately $211,000. Hantz Financial Services Inc. purchased a new stake in McDonald’s during the second quarter valued at approximately $6,612,000. California State Teachers Retirement System lifted its stake in shares of McDonald’s by 1.4% in the 4th quarter. California State Teachers Retirement System now owns 1,180,928 shares of the fast-food giant’s stock valued at $350,157,000 after purchasing an additional 15,863 shares during the last quarter. Finally, Keystone Financial Group boosted its holdings in shares of McDonald’s by 5.9% in the 4th quarter. Keystone Financial Group now owns 8,995 shares of the fast-food giant’s stock worth $2,667,000 after purchasing an additional 499 shares during the period. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

NYSE:MCD opened at $291.27 on Wednesday. The stock has a market capitalization of $209.91 billion, a P/E ratio of 24.73, a P/E/G ratio of 3.87 and a beta of 0.72. The company’s 50-day simple moving average is $270.34 and its 200-day simple moving average is $270.52. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $302.39.

McDonald’s (NYSE:MCD) last issued 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). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period in the previous year, the company posted $3.17 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. On average, research analysts forecast that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $1.67 per share. 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 2.29%. McDonald’s’s payout ratio is 56.71%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MCD shares. Loop Capital restated a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a research report on Tuesday. The Goldman Sachs Group started coverage on shares of McDonald’s in a research note on Thursday, June 13th. They set a “neutral” rating and a $288.00 price target for the company. Wedbush reissued an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a research report on Monday, July 29th. Tigress Financial boosted their target price on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Morgan Stanley decreased their price target on McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and a consensus target price of $304.41.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’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 value of $285,480.00. Following the completion of the sale, the insider now directly owns 14,780 shares in the company, valued at approximately $3,842,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’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 transaction, the insider now owns 14,780 shares in the company, valued at approximately $3,842,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’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 sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,291 shares of company stock worth $1,689,073. Insiders own 0.23% of the company’s stock.

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.