Modera Wealth Management LLC Acquires 1,945 Shares of McDonald’s Corporation $MCD

Modera Wealth Management LLC lifted its holdings in McDonald’s Corporation (NYSE:MCD) by 6.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,558 shares of the fast-food giant’s stock after acquiring an additional 1,945 shares during the period. Modera Wealth Management LLC’s holdings in McDonald’s were worth $9,220,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Paladin Advisory Group LLC boosted its position in shares of McDonald’s by 56.0% during the 2nd quarter. Paladin Advisory Group LLC now owns 418 shares of the fast-food giant’s stock valued at $122,000 after acquiring an additional 150 shares during the last quarter. Washington Trust Bank lifted its holdings in shares of McDonald’s by 34.5% in the 2nd quarter. Washington Trust Bank now owns 5,506 shares of the fast-food giant’s stock valued at $1,609,000 after acquiring an additional 1,413 shares during the last quarter. Achmea Investment Management B.V. grew its position in McDonald’s by 312.0% in the second quarter. Achmea Investment Management B.V. now owns 56,767 shares of the fast-food giant’s stock worth $16,585,000 after acquiring an additional 42,987 shares in the last quarter. HORAN Wealth LLC bought a new stake in McDonald’s during the second quarter worth approximately $206,000. Finally, SouthState Corp grew its holdings in McDonald’s by 2.3% during the 2nd quarter. SouthState Corp now owns 14,928 shares of the fast-food giant’s stock valued at $4,362,000 after purchasing an additional 342 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MCD has been the topic of a number of analyst reports. Melius began coverage on McDonald’s in a research note on Monday, July 14th. They set a “sell” rating and a $250.00 target price on the stock. TD Cowen upped their price objective on McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, August 6th. Mizuho upgraded McDonald’s to a “hold” rating in a research note on Tuesday, October 28th. BMO Capital Markets reissued an “outperform” rating on shares of McDonald’s in a research note on Thursday. Finally, Bank of America reduced their price target on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a research note on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $323.91.

McDonald’s Trading Up 0.4%

Shares of McDonald’s stock opened at $299.71 on Friday. The stock’s fifty day moving average price is $304.39 and its 200-day moving average price is $305.13. The firm has a market cap of $213.88 billion, a P/E ratio of 25.68, a P/E/G ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same period last year, the company earned $3.23 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. Analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $1.86 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, December 1st. McDonald’s’s payout ratio is 63.48%.

Insider Activity at McDonald’s

In other news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the transaction, the chief marketing officer directly owned 6,858 shares in the company, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the transaction, the executive vice president directly owned 99 shares of the company’s stock, valued at approximately $30,690. The trade was a 90.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,134 shares of company stock valued at $4,570,716 over the last ninety days. 0.25% of the stock is owned by company insiders.

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.