Gibbs Wealth Management Purchases 7,883 Shares of McDonald’s Corporation $MCD

Gibbs Wealth Management boosted its position in shares of McDonald’s Corporation (NYSE:MCD) by 252.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,006 shares of the fast-food giant’s stock after acquiring an additional 7,883 shares during the period. Gibbs Wealth Management’s holdings in McDonald’s were worth $3,421,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MCD. Your Advocates Ltd. LLP bought a new position in shares of McDonald’s in the fourth quarter worth $27,000. IFC & Insurance Marketing Inc. bought a new stake in McDonald’s during the fourth quarter valued at $29,000. Abound Financial LLC purchased a new position in McDonald’s during the fourth quarter worth about $30,000. Purpose Unlimited Inc. bought a new position in McDonald’s in the 4th quarter worth about $31,000. Finally, DecisionPoint Financial LLC raised its holdings in shares of McDonald’s by 1,616.7% in the 4th quarter. DecisionPoint Financial LLC now owns 103 shares of the fast-food giant’s stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Price Performance

Shares of NYSE MCD opened at $262.70 on Friday. The stock has a market capitalization of $186.65 billion, a P/E ratio of 21.66, a PEG ratio of 2.83 and a beta of 0.41. McDonald’s Corporation has a one year low of $260.96 and a one year high of $341.75. The firm’s 50 day simple moving average is $276.23 and its two-hundred day simple moving average is $299.11.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.09. McDonald’s had a net margin of 31.62% and a negative return on equity of 442.10%. The company had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.47 billion. During the same quarter in the prior year, the company earned $2.67 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, equities analysts expect that McDonald’s Corporation will post 12.86 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.8%. The ex-dividend date is Tuesday, September 1st. McDonald’s’s dividend payout ratio is presently 61.34%.

Insider Activity

In other news, EVP Desiree Ralls-Morrison sold 2,763 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $278.36, for a total transaction of $769,108.68. Following the transaction, the executive vice president directly owned 6,268 shares of the company’s stock, valued at approximately $1,744,760.48. This trade represents a 30.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 5,252 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $284.32, for a total value of $1,493,248.64. Following the sale, the insider owned 7,734 shares of the company’s stock, valued at $2,198,930.88. This represents a 40.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 8,348 shares of company stock valued at $2,355,634. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on MCD. Morgan Stanley cut their price objective on McDonald’s from $331.00 to $322.00 and set an “equal weight” rating for the company in a report on Wednesday, July 15th. Tigress Financial lifted their target price on shares of McDonald’s from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Friday, July 17th. KeyCorp reissued an “overweight” rating on shares of McDonald’s in a research note on Wednesday, July 15th. Rothschild & Co Redburn raised shares of McDonald’s from a “sell” rating to a “neutral” rating and increased their price target for the stock from $260.00 to $306.00 in a report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of McDonald’s from $325.00 to $305.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Fifteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $335.12.

McDonald’s Company Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.