Manchester Financial Inc. Has $495,000 Stock Position in McDonald’s Corporation $MCD

Manchester Financial Inc. increased its stake in shares of McDonald’s Corporation (NYSE:MCD) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,693 shares of the fast-food giant’s stock after buying an additional 104 shares during the period. Manchester Financial Inc.’s holdings in McDonald’s were worth $495,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MCD. Nuveen LLC bought a new position in McDonald’s in the first quarter valued at about $1,324,961,000. Price T Rowe Associates Inc. MD boosted its holdings 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 acquiring an additional 1,344,954 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in McDonald’s by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after acquiring an additional 815,768 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in McDonald’s by 732.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock valued at $203,211,000 after acquiring an additional 572,408 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in McDonald’s by 204.8% in the second quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock valued at $177,390,000 after acquiring an additional 407,982 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 939 shares of the firm’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 of the company’s stock, valued at $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. This represents a 90.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,402 shares of company stock worth $1,973,407. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MCD. Guggenheim decreased their price target on McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. Evercore ISI raised their price target on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 8th. KeyCorp restated an “overweight” rating and set a $335.00 target price (up previously from $325.00) on shares of McDonald’s in a report on Thursday, August 7th. Barclays raised their target price on McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised their target price on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Eleven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $324.68.

McDonald’s Trading Up 0.9%

Shares of MCD opened at $308.02 on Friday. The stock has a market cap of $219.80 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 3.22 and a beta of 0.50. The stock’s 50-day moving average price is $306.29 and its two-hundred day moving average price is $305.54. McDonald’s Corporation has a 1 year low of $276.53 and a 1 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, topping analysts’ consensus estimates of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.McDonald’s’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.97 earnings per share. As a group, equities analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given 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 dividend yield of 2.3%. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

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.