Patron Partners LLC Acquires 239 Shares of McDonald’s Co. (NYSE:MCD)

Patron Partners LLC boosted its holdings in shares of McDonald’s Co. (NYSE:MCD) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,454 shares of the fast-food giant’s stock after purchasing an additional 239 shares during the quarter. McDonald’s comprises 0.8% of Patron Partners LLC’s portfolio, making the stock its 23rd biggest holding. Patron Partners LLC’s holdings in McDonald’s were worth $1,390,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in MCD. Norges Bank bought a new stake in shares of McDonald’s during the fourth quarter valued at approximately $2,684,899,000. Gallagher Fiduciary Advisors LLC grew its stake in McDonald’s by 141,160.9% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after acquiring an additional 5,609,736 shares in the last quarter. Capital Research Global Investors grew its stake in McDonald’s by 66.9% during the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after acquiring an additional 2,193,769 shares in the last quarter. Swedbank AB bought a new stake in McDonald’s in the 1st quarter valued at $348,206,000. Finally, Capital World Investors lifted its stake in McDonald’s by 39.7% in the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after purchasing an additional 1,012,534 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Up 0.5 %

Shares of NYSE:MCD opened at $289.51 on Friday. The business’s 50 day moving average is $268.64 and its 200 day moving average is $270.91. The stock has a market cap of $208.64 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 3.86 and a beta of 0.72. 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 (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. McDonald’s’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.17 EPS. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Announces Dividend

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 given 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 dividend payout ratio (DPR) is 56.71%.

Insider Activity

In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $387,285.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other 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 value of $285,480.00. Following 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 this link. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,291 shares of company stock worth $1,689,073. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MCD has been the topic of several research reports. Bank of America reduced their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. TD Cowen downgraded 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 research note on Wednesday, July 31st. Loop Capital lowered their target price on McDonald’s from $357.00 to $342.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. JPMorgan Chase & Co. cut their target price on shares of McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.89.

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.