Ritholtz Wealth Management Acquires 1,258 Shares of McDonald’s Co. (NYSE:MCD)

Ritholtz Wealth Management boosted its position in shares of McDonald’s Co. (NYSE:MCDGet Rating) by 18.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,034 shares of the fast-food giant’s stock after acquiring an additional 1,258 shares during the quarter. Ritholtz Wealth Management’s holdings in McDonald’s were worth $1,983,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gilman Hill Asset Management LLC raised its position in shares of McDonald’s by 379.1% in the second quarter. Gilman Hill Asset Management LLC now owns 6,818 shares of the fast-food giant’s stock valued at $1,683,000 after purchasing an additional 5,395 shares during the period. Acropolis Investment Management LLC raised its position in shares of McDonald’s by 1.9% in the second quarter. Acropolis Investment Management LLC now owns 2,250 shares of the fast-food giant’s stock valued at $555,000 after purchasing an additional 41 shares during the period. Five Oceans Advisors raised its position in shares of McDonald’s by 3.5% in the second quarter. Five Oceans Advisors now owns 1,748 shares of the fast-food giant’s stock valued at $432,000 after purchasing an additional 59 shares during the period. Rosenberg Matthew Hamilton grew its stake in shares of McDonald’s by 2.4% in the second quarter. Rosenberg Matthew Hamilton now owns 2,546 shares of the fast-food giant’s stock valued at $644,000 after acquiring an additional 60 shares in the last quarter. Finally, PDS Planning Inc grew its stake in shares of McDonald’s by 8.1% in the second quarter. PDS Planning Inc now owns 2,358 shares of the fast-food giant’s stock valued at $582,000 after acquiring an additional 177 shares in the last quarter. 67.27% of the stock is owned by institutional investors.

McDonald’s Trading Down 0.0 %

NYSE MCD traded down $0.12 during mid-day trading on Friday, hitting $247.82. The company’s stock had a trading volume of 36,833 shares, compared to its average volume of 2,372,805. The company’s 50 day simple moving average is $258.22 and its 200 day simple moving average is $249.50. McDonald’s Co. has a twelve month low of $217.68 and a twelve month high of $271.15. The firm has a market capitalization of $182.33 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 3.05 and a beta of 0.57.

McDonald’s (NYSE:MCDGet Rating) last released its earnings results on Tuesday, July 26th. The fast-food giant reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The company had revenue of $5.72 billion for the quarter, compared to analysts’ expectations of $5.82 billion. McDonald’s had a negative return on equity of 129.90% and a net margin of 25.77%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.37 EPS. As a group, research analysts forecast that McDonald’s Co. will post 9.83 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, September 1st were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Wednesday, August 31st. McDonald’s’s payout ratio is 67.98%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MCD. BMO Capital Markets increased their price objective on shares of McDonald’s from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 16th. Robert W. Baird set a $285.00 target price on shares of McDonald’s in a report on Tuesday, July 19th. Royal Bank of Canada increased their target price on shares of McDonald’s from $292.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Atlantic Securities upgraded shares of McDonald’s from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $245.00 to $278.00 in a report on Wednesday, June 29th. Finally, Truist Financial raised their price objective on shares of McDonald’s from $273.00 to $276.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Seven analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $285.39.

Insider Activity at McDonald’s

In related news, SVP Catherine A. Hoovel sold 2,371 shares of the business’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $255.62, for a total value of $606,075.02. Following the sale, the senior vice president now directly owns 1,184 shares in the company, valued at approximately $302,654.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other McDonald’s news, insider Ian Frederick Borden sold 5,320 shares of McDonald’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $265.00, for a total transaction of $1,409,800.00. Following the completion of the transaction, the insider now owns 7,131 shares of the company’s stock, valued at approximately $1,889,715. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Catherine A. Hoovel sold 2,371 shares of McDonald’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $255.62, for a total value of $606,075.02. Following the transaction, the senior vice president now directly owns 1,184 shares of the company’s stock, valued at approximately $302,654.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,191 shares of company stock worth $5,250,365. Company insiders own 0.25% of the company’s stock.

McDonald’s Profile

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McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.

See Also

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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