D.A. Davidson & CO. Buys 18,895 Shares of McDonald’s Corporation $MCD

D.A. Davidson & CO. increased its stake in McDonald’s Corporation (NYSE:MCD) by 15.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 139,718 shares of the fast-food giant’s stock after purchasing an additional 18,895 shares during the quarter. D.A. Davidson & CO.’s holdings in McDonald’s were worth $40,822,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Cullen Frost Bankers Inc. raised its holdings in shares of McDonald’s by 3.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 97,457 shares of the fast-food giant’s stock worth $28,474,000 after purchasing an additional 3,698 shares during the period. Pacific Sun Financial Corp raised its holdings in shares of McDonald’s by 3.7% in the 2nd quarter. Pacific Sun Financial Corp now owns 1,116 shares of the fast-food giant’s stock worth $326,000 after purchasing an additional 40 shares during the period. DecisionMap Wealth Management LLC grew its stake in McDonald’s by 4.7% in the 2nd quarter. DecisionMap Wealth Management LLC now owns 826 shares of the fast-food giant’s stock valued at $241,000 after buying an additional 37 shares in the last quarter. Mid American Wealth Advisory Group Inc. purchased a new position in McDonald’s in the 2nd quarter valued at approximately $36,000. Finally, LGT Financial Advisors LLC grew its stake in McDonald’s by 24.2% in the 2nd quarter. LGT Financial Advisors LLC now owns 662 shares of the fast-food giant’s stock valued at $193,000 after buying an additional 129 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Insider Activity

In other news, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the transaction, the executive vice president directly owned 99 shares in the company, valued at $30,690. The trade was a 90.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the sale, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,463 shares of company stock worth $1,692,186 in the last three months. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

MCD opened at $307.36 on Wednesday. The company has a fifty day moving average price of $306.47 and a 200-day moving average price of $305.48. The firm has a market capitalization of $219.33 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 3.25 and a beta of 0.50. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on MCD shares. KeyCorp reiterated an “overweight” rating and issued a $335.00 price objective on shares of McDonald’s in a research note on Monday. Evercore ISI lifted their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Morgan Stanley set a $335.00 price objective on shares of McDonald’s in a research note on Friday. Bank of America reduced their price objective on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of McDonald’s in a research note on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, McDonald’s currently has a consensus rating of “Hold” and a consensus target price of $324.41.

McDonald’s Company 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.