Lakeshore Capital Group Inc. Increases Stock Position in McDonald’s Corporation $MCD

Lakeshore Capital Group Inc. increased its position in shares of McDonald’s Corporation (NYSE:MCD) by 14.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,416 shares of the fast-food giant’s stock after buying an additional 175 shares during the quarter. Lakeshore Capital Group Inc.’s holdings in McDonald’s were worth $414,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in MCD. HFM Investment Advisors LLC purchased a new stake in McDonald’s during the first quarter worth $26,000. Nova Wealth Management Inc. purchased a new stake in McDonald’s during the first quarter worth $26,000. Abound Financial LLC purchased a new stake in McDonald’s during the first quarter worth $30,000. Redmont Wealth Advisors LLC purchased a new position in McDonald’s during the first quarter valued at $31,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in McDonald’s during the first quarter valued at $31,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Trading Up 0.1%

NYSE:MCD opened at $296.35 on Wednesday. The company’s 50-day moving average price is $306.74 and its 200-day moving average price is $306.02. The company has a market cap of $211.47 billion, a P/E ratio of 25.39, a P/E/G ratio of 3.01 and a beta of 0.50. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $2.97 earnings per share. On average, analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $1.77 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.4%. McDonald’s’s payout ratio is 60.67%.

Insider Activity

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer directly owned 8,858 shares of the company’s stock, valued at $2,657,400. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the transaction, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,402 shares of company stock valued at $2,273,407 over the last three months. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MCD shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of McDonald’s in a report on Saturday, September 27th. The Goldman Sachs Group raised shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective on the stock in a report on Thursday, July 10th. Citigroup increased their price objective on shares of McDonald’s from $373.00 to $381.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Truist Financial increased their price objective on shares of McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Finally, Bank of America decreased their price objective on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Twelve research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, McDonald’s has a consensus rating of “Hold” and a consensus price target of $325.86.

McDonald’s Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.