Ping Capital Management Inc. Buys Shares of 2,200 McDonald’s Co. (NYSE:MCD)

Ping Capital Management Inc. bought a new stake in McDonald’s Co. (NYSE:MCD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,200 shares of the fast-food giant’s stock, valued at approximately $561,000. McDonald’s accounts for approximately 0.2% of Ping Capital Management Inc.’s portfolio, making the stock its 29th biggest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of McDonald’s during the 1st quarter worth $28,000. Clear Investment Research LLC acquired a new position in shares of McDonald’s during the 4th quarter worth $38,000. Kings Path Partners LLC acquired a new position in shares of McDonald’s during the 2nd quarter worth $38,000. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of McDonald’s during the 4th quarter worth $39,000. Finally, Accent Capital Management LLC acquired a new position in shares of McDonald’s during the 4th quarter worth $44,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $289.51 on Monday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $302.39. The stock has a market capitalization of $207.68 billion, a P/E ratio of 24.58, a PEG ratio of 3.87 and a beta of 0.72. The stock has a 50-day simple moving average of $268.64 and a 200-day simple moving average of $270.60.

McDonald’s (NYSE:MCD) last released 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 for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s revenue was down .1% on a year-over-year basis. During the same period last year, the firm posted $3.17 earnings per share. Analysts predict that McDonald’s Co. will post 11.67 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MCD. Bank of America cut their price target 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. Citigroup cut their price target on McDonald’s from $280.00 to $275.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft dropped their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Wedbush reiterated an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research report on Monday, July 29th. Finally, Loop Capital dropped their price objective 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. Eleven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and an average target price of $303.67.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred 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 directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the company’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 sale, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,291 shares of company stock valued at $1,689,073. Corporate insiders own 0.23% of the company’s stock.

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.