Lane & Associates LLC Has $261,000 Stake in McDonald’s Co. (NYSE:MCD)

Lane & Associates LLC grew its holdings in shares of McDonald’s Co. (NYSE:MCD) by 15.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,023 shares of the fast-food giant’s stock after purchasing an additional 140 shares during the period. Lane & Associates LLC’s holdings in McDonald’s were worth $261,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MCD. Dixon Mitchell Investment Counsel Inc. acquired a new stake in McDonald’s during the first quarter worth approximately $28,000. Clear Investment Research LLC acquired a new stake in shares of McDonald’s during the 4th quarter worth $38,000. Kings Path Partners LLC bought a new position in shares of McDonald’s in the second quarter worth $38,000. Atlantic Edge Private Wealth Management LLC acquired a new position in McDonald’s in the fourth quarter valued at about $39,000. Finally, Accent Capital Management LLC bought a new stake in McDonald’s during the fourth quarter worth about $44,000. 70.29% of the stock is owned by institutional investors.

McDonald’s Price Performance

McDonald’s stock opened at $291.22 on Tuesday. The firm has a market cap of $209.88 billion, a P/E ratio of 24.72, a P/E/G ratio of 3.87 and a beta of 0.72. The stock’s 50 day moving average is $269.47 and its 200 day moving average is $270.57. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS 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 178.68%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the prior year, the company posted $3.17 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. Equities analysts anticipate that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a yield of 2.29%. McDonald’s’s dividend payout ratio is currently 56.71%.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the transaction, the insider now directly owns 14,780 shares in the company, valued at approximately $3,842,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at $3,842,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, 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. Over the last three months, insiders sold 6,291 shares of company stock worth $1,689,073. 0.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on MCD. Bank of America decreased their target price on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Citigroup lowered their price objective on shares of McDonald’s from $280.00 to $275.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. JPMorgan Chase & Co. reduced their target price on McDonald’s from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Truist Financial lowered their price target on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and an average price target of $304.41.

McDonald’s 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.