Hantz Financial Services Inc. invests $6.61 million in McDonald’s Co. (NYSE:MCD)

VaselineSeptember 1, 2024

0 4 minutes read

Hantz Financial Services Inc. bought a new position in shares of McDonald’s Co. (NYSE:MCD – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 25,944 shares of the fast food giant’s stock, valued at approximately $6,612,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Aigen Investment Management LP purchased a new stake in shares of McDonald’s during the fourth quarter valued at approximately $4,286,000. Strait & Sound Wealth Management LLC acquired a new stake in shares of McDonald’s in the fourth quarter valued at approximately $211,000. Vestor Capital LLC raised its stake in shares of McDonald’s by 40.4% in the fourth quarter. Vestor Capital LLC now owns 74,427 shares of the fast food giant’s stock worth $22,068,000 after buying an additional 21,413 shares in the last quarter. California State Teachers Retirement System raised its stake in McDonald’s by 1.4% during the 4th quarter. California State Teachers Retirement System now owns 1,180,928 shares of the fast food giant’s stock, valued at 350,157. $000,000 after acquiring an additional 15,863 shares in the last quarter. Finally, Keystone Financial Group raised its stake in shares of McDonald’s by 5.9% during the fourth quarter. Keystone Financial Group now owns 8,995 shares of the fast food giant’s stock valued at $2,667,000 after acquiring an additional 499 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s shares.

McDonald’s stock performance

Shares of McDonald’s stock opened at $288.66 on Friday. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39. The company has a market cap of $207.07 billion, a P/E ratio of 24.50, a PEG ratio of 3.86 and a beta of 0.71. The company’s fifty day moving average is $265.62 and its two hundred day moving average is $271.00.

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McDonald’s (NYSE:MCD – Get Your Free Report ) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. In the same period last year, the company posted earnings per share of $3.17. The company’s revenue for the quarter was down 0.1% on a year-over-year basis. As a group, equities analysts expect McDonald’s Co. to post 11.67 earnings per share for the current year.

McDonald’s dividend announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $1.67 dividend. This represents an annualized dividend of $6.68 and a dividend yield of 2.31%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is currently 56.71%.

Insider trading at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,793 shares of company stock worth $1,260,106. Company insiders own 0.23% of the company’s shares.

Analyst upgrades and downgrades

Several brokerages have recently issued reports on MCD. Jefferies Financial Group decreased their price objective on shares of McDonald’s from $320.00 to $310.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Bank of America dropped their price objective on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. TD Cowen cut shares of McDonald’s from a “buy” rating to a “hold” rating and decreased their price target for the company from $285.00 to $280.00 in a report on Wednesday, July 31st. Barclays cut their price target on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Finally, Goldman Sachs Group initiated coverage on shares of McDonald’s in a report on Thursday, June 13th. They issued a “neutral” rating and a $288.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The stock has a consensus rating of “Moderate Buy” and a consensus price target of $303.71, according to MarketBeat.com.

Get the latest research report on McDonald’s

About McDonald’s

(Free report)

McDonald’s Corporation operates and franchises restaurants under the McDonald’s brand in the United States and internationally. 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 selling various other items during limited-time promotions.