Sonora Investment Management Group LLC Acquires 936 Shares of McDonald’s Corporation $MCD

Sonora Investment Management Group LLC boosted its stake in McDonald’s Corporation (NYSE:MCD) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,721 shares of the fast-food giant’s stock after purchasing an additional 936 shares during the quarter. McDonald’s comprises 1.1% of Sonora Investment Management Group LLC’s investment portfolio, making the stock its 29th biggest position. Sonora Investment Management Group LLC’s holdings in McDonald’s were worth $14,527,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of MCD. Nuveen LLC bought a new stake in shares of McDonald’s during the 1st quarter valued at approximately $1,324,961,000. Price T Rowe Associates Inc. MD boosted its position in McDonald’s by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after buying an additional 1,344,954 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of McDonald’s by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after buying an additional 815,768 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of McDonald’s by 732.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock worth $203,211,000 after buying an additional 572,408 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of McDonald’s by 204.8% during the second quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock worth $177,390,000 after buying an additional 407,982 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group raised 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. JPMorgan Chase & Co. lifted their price target on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Bank of America reduced their price target on McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. TD Securities reiterated a “hold” rating and issued a $305.00 price objective on shares of McDonald’s in a report on Thursday, June 5th. Finally, TD Cowen boosted their target price on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, August 6th. Eleven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, McDonald’s presently has an average rating of “Hold” and an average price target of $325.86.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 939 shares of the company’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 sale, the insider owned 9,283 shares in the company, valued at $2,780,165.67. This represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the sale, the executive vice president directly owned 99 shares of the company’s stock, valued at $30,690. This represents a 90.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,402 shares of company stock valued at $2,273,407. Insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

Shares of MCD stock opened at $305.10 on Friday. The stock has a market capitalization of $217.72 billion, a PE ratio of 26.14, a PEG ratio of 3.11 and a beta of 0.50. The business’s 50 day simple moving average is $306.48 and its 200 day simple moving average is $306.19. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32.

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

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a $1.77 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

About McDonald’s

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.