Raymond James Trust N.A. Purchases 3,509 Shares of McDonald’s Co. (NYSE:MCD)

Raymond James Trust N.A. grew its position in shares of McDonald’s Co. (NYSE:MCD) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,921 shares of the fast-food giant’s stock after buying an additional 3,509 shares during the quarter. Raymond James Trust N.A.’s holdings in McDonald’s were worth $16,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Concentric Wealth Management LLC raised its holdings in shares of McDonald’s by 1.4% in the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock worth $756,000 after purchasing an additional 35 shares during the period. Mechanics Financial Corp grew its position in shares of McDonald’s by 0.7% during the 4th quarter. Mechanics Financial Corp now owns 5,331 shares of the fast-food giant’s stock valued at $1,581,000 after purchasing an additional 36 shares in the last quarter. FinTrust Capital Advisors LLC lifted its holdings in shares of McDonald’s by 2.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock worth $376,000 after acquiring an additional 36 shares during the last quarter. 9258 Wealth Management LLC lifted its holdings in shares of McDonald’s by 1.3% during the 1st quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock worth $799,000 after acquiring an additional 37 shares during the last quarter. Finally, ICW Investment Advisors LLC lifted its holdings in shares of McDonald’s by 0.4% during the 4th quarter. ICW Investment Advisors LLC now owns 9,548 shares of the fast-food giant’s stock worth $2,831,000 after acquiring an additional 38 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of McDonald’s in a report on Thursday, June 13th. They set a “neutral” rating and a $288.00 price objective for the company. Evercore ISI upped their price objective on shares of McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Robert W. Baird lowered their price objective on shares of McDonald’s from $305.00 to $300.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Wedbush reiterated an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a research report on Monday, July 29th. Finally, KeyCorp reduced their price target on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research report 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $303.71.

McDonald’s Stock Performance

Shares of McDonald’s stock traded up $0.31 on Friday, hitting $289.52. 2,145,946 shares of the company’s stock were exchanged, compared to its average volume of 3,554,448. The company has a 50-day simple moving average of $262.15 and a 200-day simple moving average of $270.79. The stock has a market capitalization of $208.65 billion, a PE ratio of 24.58, a PEG ratio of 3.58 and a beta of 0.71. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $302.39.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.92%. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter last year, the firm posted $3.17 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. On average, analysts expect that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Announces Dividend

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 paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the sale, the insider now directly owns 14,780 shares in the company, valued at approximately $3,842,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,793 shares of company stock worth $1,260,106. Insiders own 0.23% of the company’s stock.

McDonald’s Company 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.