ZEGA Investments LLC Invests $439,000 in McDonald’s Corporation $MCD

ZEGA Investments LLC purchased a new position in McDonald’s Corporation (NYSE:MCD) during the second quarter, Holdings Channel reports. The fund purchased 1,504 shares of the fast-food giant’s stock, valued at approximately $439,000.

A number of other large investors have also added to or reduced their stakes in the stock. First American Trust FSB lifted its stake in McDonald’s by 55.9% in the first quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock valued at $11,532,000 after purchasing an additional 13,234 shares during the last quarter. Banque Transatlantique SA raised its stake in shares of McDonald’s by 58.0% in the first quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock valued at $71,829,000 after buying an additional 91,313 shares during the period. Hamilton Capital LLC lifted its position in shares of McDonald’s by 35.2% during the 1st quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock valued at $982,000 after buying an additional 819 shares during the last quarter. Welch Group LLC grew its stake in shares of McDonald’s by 1.1% during the 2nd quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock worth $60,188,000 after acquiring an additional 2,180 shares during the period. Finally, Graybill Wealth Management LTD. purchased a new stake in McDonald’s in the 1st quarter worth about $564,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Up 0.4%

NYSE MCD opened at $299.71 on Friday. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The stock has a market cap of $213.88 billion, a PE ratio of 25.68, a P/E/G ratio of 3.23 and a beta of 0.50. The stock’s 50 day moving average is $304.39 and its 200 day moving average is $305.13.

McDonald’s (NYSE:MCD) last released its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same period last year, the firm posted $3.23 EPS. McDonald’s’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $1.86 per share. The ex-dividend date of this dividend is Monday, December 1st. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a yield of 2.5%. McDonald’s’s dividend payout ratio is currently 63.48%.

Insider Buying and Selling at McDonald’s

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the transaction, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 15,134 shares of company stock worth $4,570,716 in the last quarter. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MCD. Morgan Stanley set a $335.00 price target on McDonald’s in a research report on Friday, October 17th. Stifel Nicolaus raised their price objective on McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Friday, August 22nd. Truist Financial cut their target price on McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Melius assumed coverage on shares of McDonald’s in a research note on Monday, July 14th. They issued a “sell” rating and a $250.00 price target for the company. Finally, BTIG Research reissued a “neutral” rating on shares of McDonald’s in a research report on Friday, October 24th. Eleven equities 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 company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $323.91.

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.