Shira Ridge Wealth Management purchased a new stake in McDonald’s Co. (NYSE:MCD – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 693 shares of the fast-food giant’s stock, valued at approximately $207,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Fiduciary Investment Counsel Inc. lifted its position in shares of McDonald’s by 12.5% in the 1st quarter. First Fiduciary Investment Counsel Inc. now owns 900 shares of the fast-food giant’s stock worth $252,000 after acquiring an additional 100 shares during the period. MBE Wealth Management LLC boosted its stake in McDonald’s by 4.5% during the first quarter. MBE Wealth Management LLC now owns 1,825 shares of the fast-food giant’s stock worth $510,000 after buying an additional 79 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in McDonald’s by 20.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 43,252 shares of the fast-food giant’s stock valued at $12,094,000 after buying an additional 7,312 shares during the period. Litman Gregory Wealth Management LLC acquired a new position in shares of McDonald’s in the 1st quarter valued at $315,000. Finally, Park Avenue Securities LLC lifted its holdings in shares of McDonald’s by 0.3% during the 1st quarter. Park Avenue Securities LLC now owns 19,390 shares of the fast-food giant’s stock worth $5,422,000 after acquiring an additional 63 shares during the period. 67.60% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have commented on the stock. BTIG Research raised their price target on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. TD Cowen reiterated an “outperform” rating and issued a $326.00 price target on shares of McDonald’s in a research report on Thursday, July 27th. Jefferies Financial Group lifted their price objective on McDonald’s from $330.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Royal Bank of Canada increased their target price on shares of McDonald’s from $325.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Finally, Robert W. Baird raised their price objective on shares of McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $323.17.
In related news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $285.00, for a total value of $285,000.00. Following the sale, the chief marketing officer now owns 929 shares of the company’s stock, valued at approximately $264,765. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $285.00, for a total value of $285,000.00. Following the completion of the transaction, the chief marketing officer now owns 929 shares of the company’s stock, valued at $264,765. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Heidi B. Capozzi sold 688 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $282.54, for a total transaction of $194,387.52. Following the sale, the executive vice president now directly owns 20,019 shares in the company, valued at $5,656,168.26. The disclosure for this sale can be found here. Insiders have sold a total of 18,149 shares of company stock worth $5,257,201 over the last three months. Corporate insiders own 0.18% of the company’s stock.
McDonald’s Price Performance
NYSE MCD opened at $277.90 on Tuesday. McDonald’s Co. has a one year low of $230.58 and a one year high of $299.35. The firm has a market cap of $202.52 billion, a P/E ratio of 25.55, a P/E/G ratio of 2.71 and a beta of 0.64. The stock’s 50-day moving average is $287.27 and its 200-day moving average is $286.22.
McDonald’s (NYSE:MCD – Get Free Report) last announced its earnings results on Thursday, July 27th. The fast-food giant reported $3.17 EPS for the quarter, topping the consensus estimate of $2.77 by $0.40. McDonald’s had a net margin of 33.06% and a negative return on equity of 139.57%. The firm had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.30 billion. During the same period last year, the company posted $2.55 EPS. The business’s quarterly revenue was up 13.6% on a year-over-year basis. Equities analysts anticipate that McDonald’s Co. will post 11.49 EPS for the current year.
McDonald’s Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, September 18th. Shareholders of record on Friday, September 1st were paid a $1.52 dividend. This represents a $6.08 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Thursday, August 31st. McDonald’s’s dividend payout ratio is 55.93%.
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.
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