Boyd Watterson Asset Management LLC OH Has $83,000 Holdings in McDonald’s Corporation $MCD

by · The Cerbat Gem

Boyd Watterson Asset Management LLC OH reduced its holdings in McDonald’s Corporation (NYSE:MCD – Free Report) by 18.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284 shares of the fast-food giant’s stock after selling 66 shares during the quarter. Boyd Watterson Asset Management LLC OH’s holdings in McDonald’s were worth $83,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. HFM Investment Advisors LLC acquired a new position in shares of McDonald’s in the 1st quarter worth approximately $26,000. Nova Wealth Management Inc. acquired a new position in McDonald’s during the 1st quarter worth $26,000. GFG Capital LLC acquired a new position in McDonald’s during the 2nd quarter worth $29,000. Abound Financial LLC acquired a new position in McDonald’s during the 1st quarter worth $30,000. Finally, Redmont Wealth Advisors LLC acquired a new position in McDonald’s during the 1st quarter worth $31,000. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Up 1.4%

MCD stock opened at $309.97 on Tuesday. The business’s fifty day moving average is $306.52 and its 200-day moving average is $305.71. The company has a market cap of $221.19 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32.

McDonald’s (NYSE:MCD – Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share 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 the consensus estimate of $6.68 billion. During the same quarter in the prior year, the business posted $2.97 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. Research analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a $1.86 dividend. The ex-dividend date is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio is currently 60.67%.

Insider Activity at McDonald’s

In related news, EVP Jonathan Banner sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the sale, the chief marketing officer owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This represents a 12.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,463 shares of company stock worth $1,692,186 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MCD. Citigroup reduced their price objective on McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, October 21st. Truist Financial reduced their price objective on McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Royal Bank Of Canada began coverage on McDonald’s in a report on Wednesday, October 8th. They set a “sector perform” rating and a $320.00 price objective on the stock. Morgan Stanley set a $335.00 price objective on McDonald’s in a report on Friday, October 17th. Finally, Bank of America cut their price target on 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, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, McDonald’s presently has an average rating of “Hold” and an average price target of $323.43.

Get Our Latest Analysis on MCD

McDonald’s Company Profile

(Free Report)

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.

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