Icon Wealth Advisors LLC Grows Stake in McDonald’s Co. (NYSE:MCD)

Icon Wealth Advisors LLC grew its position in shares of McDonald’s Co. (NYSE:MCD) by 10.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,329 shares of the fast-food giant’s stock after purchasing an additional 1,343 shares during the period. Icon Wealth Advisors LLC’s holdings in McDonald’s were worth $4,040,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MCD. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s during the first quarter valued at about $28,000. Signature Resources Capital Management LLC bought a new position in McDonald’s in the fourth quarter worth about $31,000. Clear Investment Research LLC bought a new position in McDonald’s in the fourth quarter worth about $38,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in McDonald’s in the fourth quarter worth about $39,000. Finally, Keener Financial Planning LLC purchased a new position in shares of McDonald’s during the fourth quarter valued at approximately $39,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MCD shares. KeyCorp lowered their target price on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a report on Tuesday. The Goldman Sachs Group started coverage on shares of McDonald’s in a report on Thursday, June 13th. They set a “neutral” rating and a $288.00 target price for the company. Guggenheim lowered their target price on shares of McDonald’s from $315.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Morgan Stanley lowered their target price on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Finally, JPMorgan Chase & Co. lowered their target price on shares of McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a report on Tuesday. Ten analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average price target of $302.82.

Insider Buying and Selling

In related news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction 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 completion of the sale, 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. In the last quarter, insiders sold 5,594 shares of company stock valued at $1,454,507. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD stock traded up $5.10 during mid-day trading on Tuesday, reaching $266.52. 4,924,469 shares of the company’s stock traded hands, compared to its average volume of 3,527,371. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39. The firm has a 50 day moving average price of $255.33 and a two-hundred day moving average price of $273.10. The firm has a market capitalization of $192.08 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 2.92 and a beta of 0.71.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data 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 business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The company’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.17 EPS. As a group, equities analysts expect that McDonald’s Co. will post 12.05 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.51%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

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.