122 Shares in McDonald’s Corporation $MCD Acquired by Mid American Wealth Advisory Group Inc.

Mid American Wealth Advisory Group Inc. bought a new stake in McDonald’s Corporation (NYSE:MCD) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 122 shares of the fast-food giant’s stock, valued at approximately $36,000.

Several other large investors have also modified their holdings of MCD. Nova Wealth Management Inc. purchased a new stake in McDonald’s in the 1st quarter valued at about $26,000. HFM Investment Advisors LLC acquired a new stake in shares of McDonald’s during the first quarter valued at about $26,000. Abound Financial LLC purchased a new stake in shares of McDonald’s in the 1st quarter valued at approximately $30,000. GFG Capital LLC acquired a new position in shares of McDonald’s in the 2nd quarter worth approximately $29,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of McDonald’s in the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analysts Set New Price Targets

MCD has been the subject of several research reports. Piper Sandler lifted their target price on shares of McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Stifel Nicolaus lifted their price objective on McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Friday, August 22nd. TD Cowen increased their target price on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. raised their target price on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, BMO Capital Markets lifted their target price on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Eleven analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, McDonald’s currently has a consensus rating of “Hold” and a consensus price target of $324.68.

Insider Activity

In related news, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the transaction, the executive vice president owned 99 shares in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. This trade represents a 22.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,402 shares of company stock worth $1,973,407 over the last three months. Insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

MCD opened at $307.94 on Tuesday. The business has a fifty day moving average price of $306.36 and a 200 day moving average price of $305.47. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The stock has a market capitalization of $219.75 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 3.25 and a beta of 0.50.

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

About McDonald’s

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.