Avaii Wealth Management LLC raised its holdings in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 3.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,348 shares of the fast-food giant’s stock after acquiring an additional 47 shares during the quarter. Avaii Wealth Management LLC’s holdings in McDonald’s were worth $402,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of MCD. Dfpg Investments LLC boosted its position in McDonald’s by 10.9% during the 2nd quarter. Dfpg Investments LLC now owns 10,807 shares of the fast-food giant’s stock worth $3,179,000 after purchasing an additional 1,062 shares during the period. First Fiduciary Investment Counsel Inc. lifted its stake in shares of McDonald’s by 12.5% during the first quarter. First Fiduciary Investment Counsel Inc. now owns 900 shares of the fast-food giant’s stock worth $252,000 after purchasing an additional 100 shares in the last quarter. Northwest Bancshares Inc. boosted its position in shares of McDonald’s by 1.8% in the second quarter. Northwest Bancshares Inc. now owns 4,056 shares of the fast-food giant’s stock worth $1,210,000 after buying an additional 70 shares during the period. MBE Wealth Management LLC grew its stake in shares of McDonald’s by 4.5% in the first quarter. MBE Wealth Management LLC now owns 1,825 shares of the fast-food giant’s stock valued at $510,000 after buying an additional 79 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in shares of McDonald’s by 20.3% during 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. 67.60% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other McDonald’s news, CEO Christopher J. Kempczinski sold 5,606 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $280.00, for a total transaction of $1,569,680.00. Following the completion of the transaction, the chief executive officer now directly owns 29,031 shares of the company’s stock, valued at approximately $8,128,680. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Christopher J. Kempczinski sold 5,606 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $280.00, for a total transaction of $1,569,680.00. Following the completion of the sale, the chief executive officer now directly owns 29,031 shares of the company’s stock, valued at $8,128,680. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $264,765. The disclosure for this sale can be found here. Insiders sold 24,443 shares of company stock valued at $6,916,994 over the last 90 days. 0.27% of the stock is currently owned by company insiders.
McDonald’s Stock Up 0.2 %
NYSE MCD traded up $0.45 during trading hours on Tuesday, hitting $250.39. The company had a trading volume of 492,699 shares, compared to its average volume of 2,578,131. McDonald’s Co. has a fifty-two week low of $245.73 and a fifty-two week high of $299.35. The firm has a market cap of $182.47 billion, a P/E ratio of 22.99, a price-to-earnings-growth ratio of 2.43 and a beta of 0.65. The business has a fifty day simple moving average of $273.47 and a 200-day simple moving average of $284.96.
McDonald’s (NYSE:MCD – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The fast-food giant reported $3.17 earnings per share for the quarter, beating 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 firm posted $2.55 EPS. McDonald’s’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities analysts forecast that McDonald’s Co. will post 11.52 EPS for the current fiscal year.
McDonald’s Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, November 30th. This is a positive change from McDonald’s’s previous quarterly dividend of $1.52. McDonald’s’s payout ratio is 61.45%.
Wall Street Analyst Weigh In
Several analysts have issued reports on MCD shares. Truist Financial lowered their price objective on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday, September 20th. Barclays boosted their price objective on shares of McDonald’s from $330.00 to $345.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. Tigress Financial raised their target price on McDonald’s from $330.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, September 13th. KeyCorp lifted their target price on McDonald’s from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday, July 21st. Finally, BMO Capital Markets raised their price objective on McDonald’s from $325.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Five research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $321.50.
View Our Latest Analysis on McDonald’s
McDonald’s Company Profile
(Free Report)
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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