Miracle Mile Advisors LLC Increases Stake in McDonald’s Co. (NYSE:MCD)

Miracle Mile Advisors LLC lifted its stake in McDonald’s Co. (NYSE:MCD) by 0.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,108 shares of the fast-food giant’s stock after buying an additional 491 shares during the quarter. Miracle Mile Advisors LLC’s holdings in McDonald’s were worth $14,974,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MCD. LaSalle St. Investment Advisors LLC grew its position in McDonald’s by 3.0% in the third quarter. LaSalle St. Investment Advisors LLC now owns 1,660 shares of the fast-food giant’s stock worth $437,000 after acquiring an additional 48 shares in the last quarter. First Dallas Securities Inc. increased its position in shares of McDonald’s by 3.9% during the 3rd quarter. First Dallas Securities Inc. now owns 4,354 shares of the fast-food giant’s stock valued at $1,147,000 after purchasing an additional 163 shares during the last quarter. Waverly Advisors LLC raised its holdings in McDonald’s by 8.4% during the 3rd quarter. Waverly Advisors LLC now owns 4,957 shares of the fast-food giant’s stock valued at $1,306,000 after buying an additional 383 shares during the period. United Services Automobile Association lifted its position in McDonald’s by 12.6% in the third quarter. United Services Automobile Association now owns 19,744 shares of the fast-food giant’s stock worth $5,201,000 after buying an additional 2,204 shares during the last quarter. Finally, Logan Capital Management Inc. increased its position in McDonald’s by 18.0% during the third quarter. Logan Capital Management Inc. now owns 40,623 shares of the fast-food giant’s stock valued at $10,702,000 after acquiring an additional 6,211 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Erste Group Bank reaffirmed a “hold” rating on shares of McDonald’s in a research report on Wednesday, April 3rd. Robert W. Baird reduced their price target on shares of McDonald’s from $305.00 to $300.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Evercore ISI reissued an “outperform” rating and issued a $330.00 price objective on shares of McDonald’s in a research report on Wednesday, March 27th. JPMorgan Chase & Co. raised their target price on shares of McDonald’s from $290.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Finally, Wedbush lowered their price target on McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Ten analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $315.14.

McDonald’s Trading Down 1.9 %

MCD traded down $4.85 during trading on Monday, hitting $249.99. The company’s stock had a trading volume of 3,735,568 shares, compared to its average volume of 3,433,032. The firm has a market capitalization of $180.16 billion, a price-to-earnings ratio of 21.21, a P/E/G ratio of 2.87 and a beta of 0.71. McDonald’s Co. has a twelve month low of $245.73 and a twelve month high of $302.39. The business’s fifty day simple moving average is $263.31 and its 200 day simple moving average is $279.07.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The company had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same quarter last year, the business earned $2.63 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities research analysts forecast that McDonald’s Co. will post 12.19 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Monday, June 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Insider Buying and Selling

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 value 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’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 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 document filed with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total transaction of $291,377.87. Following the completion of the sale, the insider now directly owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,095 shares of company stock worth $1,100,625. 0.23% of the stock is owned by 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.