DoubleLine ETF Adviser LP Makes New $3.77 Million Investment in McDonald’s Co. (NYSE:MCD)

DoubleLine ETF Adviser LP bought a new stake in shares of McDonald’s Co. (NYSE:MCD) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 14,809 shares of the fast-food giant’s stock, valued at approximately $3,774,000. McDonald’s accounts for about 1.0% of DoubleLine ETF Adviser LP’s holdings, making the stock its 24th biggest position.

Other hedge funds have also added to or reduced their stakes in the company. Concentric Wealth Management LLC boosted its position in McDonald’s by 1.4% during the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after buying an additional 35 shares during the period. FinTrust Capital Advisors LLC grew its stake in shares of McDonald’s by 2.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock worth $376,000 after purchasing an additional 36 shares during the last quarter. 9258 Wealth Management LLC increased its holdings in 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 valued at $799,000 after purchasing an additional 37 shares during the period. Weatherly Asset Management L. P. raised its position in McDonald’s by 0.9% during the 1st quarter. Weatherly Asset Management L. P. now owns 4,378 shares of the fast-food giant’s stock valued at $1,234,000 after purchasing an additional 38 shares during the last quarter. Finally, Independence Bank of Kentucky lifted its holdings in McDonald’s by 1.3% in the 1st quarter. Independence Bank of Kentucky now owns 2,913 shares of the fast-food giant’s stock worth $821,000 after buying an additional 38 shares during the period. 70.29% of the stock is owned by institutional investors.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value 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 approximately $3,557,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on 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 owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The disclosure for this sale can be found here. Insiders have sold 23,958 shares of company stock valued at $7,032,111 over the last quarter. 0.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Bank of America reduced their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. BMO Capital Markets cut their target price on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Wedbush reissued an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. upped their target price on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.48.

McDonald’s Stock Up 0.1 %

Shares of NYSE:MCD opened at $300.53 on Thursday. The stock has a market capitalization of $215.58 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 3.99 and a beta of 0.72. The firm’s 50 day moving average price is $279.11 and its 200-day moving average price is $270.68. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $302.39.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share 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 during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the previous year, the business posted $3.17 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. Analysts expect that McDonald’s Co. will post 11.69 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Tuesday, September 3rd. McDonald’s’s payout ratio is 56.71%.

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.