Texas Capital Bank Wealth Management Services Inc Increases Stake in McDonald’s Corporation $MCD

Texas Capital Bank Wealth Management Services Inc increased its position in shares of McDonald’s Corporation (NYSE:MCD) by 28.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,590 shares of the fast-food giant’s stock after buying an additional 787 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in McDonald’s were worth $1,121,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Mascagni Wealth Management Inc. purchased a new position in shares of McDonald’s during the fourth quarter valued at $25,000. Pinney & Scofield Inc. purchased a new position in McDonald’s in the fourth quarter valued at about $29,000. Abound Financial LLC purchased a new position in McDonald’s in the first quarter valued at about $30,000. Copia Wealth Management purchased a new position in McDonald’s in the fourth quarter valued at about $31,000. Finally, Redmont Wealth Advisors LLC purchased a new position in McDonald’s in the first quarter valued at about $31,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Down 0.1%

McDonald’s stock opened at $308.71 on Tuesday. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The company has a market capitalization of $220.30 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 3.15 and a beta of 0.52. The stock has a 50-day moving average price of $298.14 and a 200 day moving average price of $305.31.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%. McDonald’s’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $2.97 earnings per share. Research analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a $1.77 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. McDonald’s’s payout ratio is 60.67%.

Insider Activity

In other news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the sale, the executive vice president owned 8,754 shares of the company’s stock, valued at $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,280 shares of company stock worth $2,215,178 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Evercore ISI lifted their target price on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Robert W. Baird lifted their target price on McDonald’s from $300.00 to $315.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Citigroup lifted their target price on McDonald’s from $364.00 to $365.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 target price on the stock in a research note on Thursday, July 10th. Finally, Morgan Stanley lifted their target price on McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $326.87.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.