Lake Street Advisors Group LLC Sells 217 Shares of McDonald’s Co. (NYSE:MCD)

Lake Street Advisors Group LLC decreased its stake in McDonald’s Co. (NYSE:MCD) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,969 shares of the fast-food giant’s stock after selling 217 shares during the period. Lake Street Advisors Group LLC’s holdings in McDonald’s were worth $3,305,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in McDonald’s by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock valued at $20,473,811,000 after buying an additional 599,745 shares during the period. Norges Bank purchased a new stake in McDonald’s during the 4th quarter valued at about $2,684,899,000. Price T Rowe Associates Inc. MD grew its position in McDonald’s by 15.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after acquiring an additional 987,099 shares during the last quarter. Gallagher Fiduciary Advisors LLC increased its stake in McDonald’s by 141,160.9% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after purchasing an additional 5,609,736 shares during the period. Finally, Capital Research Global Investors lifted its position in McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after purchasing an additional 2,193,769 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wedbush reaffirmed an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a research note on Monday, July 29th. Bank of America decreased their price objective on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. KeyCorp dropped 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, July 30th. Citigroup lowered their price target on McDonald’s from $280.00 to $275.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Finally, BMO Capital Markets reduced their target price on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $303.89.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $289.58 on Friday. The stock has a market cap of $208.70 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 3.86 and a beta of 0.72. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $302.39. The firm’s 50-day moving average is $268.64 and its 200 day moving average is $270.91.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.17 EPS. On average, equities analysts expect that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders 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 2.31%. McDonald’s’s dividend payout ratio is 56.71%.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The disclosure for this sale can be found here. In the last quarter, insiders 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.