Meridian Wealth Management LLC Buys 445 Shares of McDonald’s Corporation $MCD

Meridian Wealth Management LLC raised its position in shares of McDonald’s Corporation (NYSE:MCD) by 6.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,654 shares of the fast-food giant’s stock after purchasing an additional 445 shares during the quarter. Meridian Wealth Management LLC’s holdings in McDonald’s were worth $2,236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nova Wealth Management Inc. bought a new position in McDonald’s in the 1st quarter worth $26,000. HFM Investment Advisors LLC purchased a new position in shares of McDonald’s in the first quarter valued at about $26,000. Decker Retirement Planning Inc. boosted its stake in shares of McDonald’s by 142.9% in the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after acquiring an additional 50 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of McDonald’s in the second quarter worth about $25,000. Finally, GFG Capital LLC bought a new stake in McDonald’s during the 2nd quarter valued at approximately $29,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Trading Down 0.3%

Shares of NYSE MCD opened at $306.74 on Friday. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The firm’s 50-day moving average price is $303.37 and its 200-day moving average price is $304.64. The stock has a market capitalization of $218.45 billion, a price-to-earnings ratio of 26.28, a P/E/G ratio of 3.23 and a beta of 0.50.

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

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $1.86 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, December 1st. McDonald’s’s payout ratio is currently 63.48%.

Insider Activity

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the sale, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at $2,160,270. This represents a 12.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Manuel Jm Steijaert sold 13,134 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the completion of the sale, the executive vice president directly owned 4,606 shares of the company’s stock, valued at approximately $1,383,734.52. The trade was a 74.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 15,134 shares of company stock valued at $4,570,716. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MCD. JPMorgan Chase & Co. boosted their price target on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. TD Cowen upped their target price on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, August 6th. Wells Fargo & Company lifted their price target on shares of McDonald’s from $340.00 to $345.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Citigroup dropped their price objective on shares of McDonald’s from $381.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, October 21st. Finally, Truist Financial reduced their target price on McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Eleven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $323.91.

McDonald’s 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.