Corundum Group Inc. Raises Position in McDonald’s Co. (NYSE:MCD)

Corundum Group Inc. increased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 51.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,538 shares of the fast-food giant’s stock after buying an additional 1,886 shares during the quarter. Corundum Group Inc.’s holdings in McDonald’s were worth $1,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in McDonald’s by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock worth $20,473,811,000 after purchasing an additional 599,745 shares in the last quarter. Norges Bank acquired a new stake in shares of McDonald’s during the fourth quarter worth $2,684,899,000. Price T Rowe Associates Inc. MD grew its holdings in shares of McDonald’s by 15.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after buying an additional 987,099 shares during the last quarter. Gallagher Fiduciary Advisors LLC increased its position in shares of McDonald’s by 141,160.9% in the 4th 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 during the period. Finally, Capital Research Global Investors raised its stake in McDonald’s by 66.9% in the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after acquiring an additional 2,193,769 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Marion K. Gross sold 1,498 shares of the 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 completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated 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 owns 15,878 shares in the company, valued at $4,209,734.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,794 shares of company stock worth $1,234,491. Insiders own 0.23% of the company’s stock.

McDonald’s Trading Up 1.4 %

MCD stock traded up $3.72 during mid-day trading on Thursday, reaching $274.87. The company’s stock had a trading volume of 2,391,332 shares, compared to its average volume of 3,570,389. The stock has a market cap of $198.09 billion, a PE ratio of 23.33, a P/E/G ratio of 3.58 and a beta of 0.71. The company’s 50 day moving average is $258.26 and its two-hundred day moving average is $271.29. 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 posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.92%. McDonald’s’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.17 EPS. On average, analysts forecast that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Bank of America reduced their price objective on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Wedbush reaffirmed an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a report on Monday, July 29th. Guggenheim increased their price objective on shares of McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lowered their price target on shares of McDonald’s from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Finally, Morgan Stanley reduced their price objective 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 twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $303.00.

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.