Keynote Financial Services LLC Invests $1.22 Million in McDonald’s Co. (NYSE:MCD)

Keynote Financial Services LLC acquired a new stake in McDonald’s Co. (NYSE:MCD) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,314 shares of the fast-food giant’s stock, valued at approximately $1,216,000. McDonald’s comprises about 1.0% of Keynote Financial Services LLC’s portfolio, making the stock its 28th biggest position.

A number of other institutional investors have also recently bought and sold shares of the business. Jackson Wealth Management LLC increased its holdings in McDonald’s by 2.6% in the first quarter. Jackson Wealth Management LLC now owns 29,506 shares of the fast-food giant’s stock valued at $8,319,000 after purchasing an additional 758 shares during the last quarter. American Trust increased its stake in shares of McDonald’s by 6.1% in the 1st quarter. American Trust now owns 6,899 shares of the fast-food giant’s stock valued at $1,945,000 after acquiring an additional 395 shares during the last quarter. OMC Financial Services LTD acquired a new stake in shares of McDonald’s in the 1st quarter valued at approximately $4,975,000. EverSource Wealth Advisors LLC boosted its stake in McDonald’s by 19.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 7,499 shares of the fast-food giant’s stock worth $2,048,000 after acquiring an additional 1,198 shares during the last quarter. Finally, Railway Pension Investments Ltd grew its holdings in McDonald’s by 5.7% during the first quarter. Railway Pension Investments Ltd now owns 131,600 shares of the fast-food giant’s stock valued at $37,105,000 after purchasing an additional 7,100 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD traded up $7.94 during mid-day trading on Friday, reaching $276.69. 9,585,900 shares of the company were exchanged, compared to its average volume of 4,294,537. The business has a 50 day simple moving average of $255.91 and a two-hundred day simple moving average of $272.78. The stock has a market capitalization of $199.40 billion, a PE ratio of 23.49, a PEG ratio of 3.58 and a beta of 0.71. McDonald’s Co. has a 52 week low of $243.53 and a 52 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). The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $3.17 EPS. On average, analysts predict that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a yield of 2.41%. McDonald’s’s dividend payout ratio is currently 56.71%.

Insiders Place Their Bets

In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the transaction, the executive vice president now directly owns 19 shares in the company, valued at approximately $5,225.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,842,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan Banner sold 800 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $5,225.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,594 shares of company stock worth $1,454,507. 0.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MCD. Barclays reduced their price target on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday. Morgan Stanley decreased their target price 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. Jefferies Financial Group lowered their price target on McDonald’s from $320.00 to $310.00 and set a “buy” rating for the company in a report on Monday, July 29th. Citigroup cut their price objective on McDonald’s from $280.00 to $275.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered their target price on McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Tuesday. Eleven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.