Patron Partners LLC Grows Stock Position in McDonald’s Co. (NYSE:MCD)

Patron Partners LLC lifted its holdings in shares of McDonald’s Co. (NYSE:MCD) by 4.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,454 shares of the fast-food giant’s stock after acquiring an additional 239 shares during the period. McDonald’s makes up approximately 0.8% of Patron Partners LLC’s investment portfolio, making the stock its 23rd largest holding. Patron Partners LLC’s holdings in McDonald’s were worth $1,390,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. acquired a new position in McDonald’s during the 1st quarter valued at approximately $28,000. Clear Investment Research LLC purchased a new stake in shares of McDonald’s during the fourth quarter valued at $38,000. Kings Path Partners LLC acquired a new position in shares of McDonald’s in the 2nd quarter valued at $38,000. Atlantic Edge Private Wealth Management LLC purchased a new position in McDonald’s in the 4th quarter worth $39,000. Finally, Accent Capital Management LLC purchased a new position in McDonald’s in the 4th quarter worth $44,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of the 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 transaction, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,291 shares of company stock valued at $1,689,073. Corporate insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

MCD has been the topic of a number of research reports. Loop Capital cut their price objective on McDonald’s from $357.00 to $342.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Stifel Nicolaus reduced their price target on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Evercore ISI lifted their price objective on shares of McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Morgan Stanley cut their price objective on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Finally, KeyCorp decreased their target price on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $303.89.

McDonald’s Trading Up 0.5 %

MCD stock opened at $289.51 on Friday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $302.39. 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 price-to-earnings ratio of 24.58, a PEG ratio of 3.86 and a beta of 0.72.

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 firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the prior year, the firm earned $3.17 earnings per share. The business’s revenue was down .1% on a year-over-year basis. As a group, equities analysts forecast 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. Stockholders of record on Tuesday, September 3rd will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

About McDonald’s

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.