Moss Adams Wealth Advisors LLC Purchases 280 Shares of McDonald’s Co. (NYSE:MCD)

19 Oct 2024, 08:24 by Doug Wharley · The Cerbat Gem

Moss Adams Wealth Advisors LLC boosted its position in McDonald’s Co. (NYSE:MCD – Free Report) by 9.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,247 shares of the fast-food giant’s stock after purchasing an additional 280 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in McDonald’s were worth $989,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. bought a new position in McDonald’s during the first quarter worth about $28,000. Kings Path Partners LLC bought a new position in McDonald’s in the 2nd quarter worth approximately $38,000. Keener Financial Planning LLC grew its stake in McDonald’s by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after buying an additional 43 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in McDonald’s during the 2nd quarter valued at $59,000. Finally, Bbjs Financial Advisors LLC purchased a new position in McDonald’s during the 2nd quarter valued at about $65,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the transaction, the insider now owns 13,681 shares in the company, valued at $3,557,060. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock valued at $10,221,233 over the last three months. 0.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MCD has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Bank of America lowered their price target on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Guggenheim upped their price objective on shares of McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wedbush reiterated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Monday, July 29th. Finally, Jefferies Financial Group increased their price target on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $315.69.

Check Out Our Latest Stock Report on McDonald’s

McDonald’s Stock Performance

MCD opened at $316.53 on Friday. The stock has a market capitalization of $228.12 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.18. The company has a fifty day moving average of $294.62 and a 200 day moving average of $273.73.

McDonald’s (NYSE:MCD – Get Free Report) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the business posted $3.17 earnings per share. On average, equities research analysts forecast that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.24%. McDonald’s’s dividend payout ratio (DPR) is currently 60.10%.

About McDonald’s

(Free Report)

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.