RMR Wealth Builders Purchases 521 Shares of McDonald’s Corporation $MCD
by Danessa Lincoln · The Markets DailyRMR Wealth Builders lifted its position in McDonald’s Corporation (NYSE:MCD – Free Report) by 7.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,104 shares of the fast-food giant’s stock after acquiring an additional 521 shares during the period. RMR Wealth Builders’ holdings in McDonald’s were worth $2,076,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in MCD. Nuveen LLC bought a new position in shares of McDonald’s in the first quarter valued at $1,324,961,000. GAMMA Investing LLC grew its stake in shares of McDonald’s by 39,039.7% in the first quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant’s stock valued at $1,092,645,000 after buying an additional 3,488,982 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of McDonald’s by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after buying an additional 1,344,954 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of McDonald’s by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after buying an additional 815,768 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of McDonald’s in the fourth quarter valued at $211,824,000. 70.29% of the stock is owned by institutional investors.
McDonald’s Stock Down 1.0%
MCD stock opened at $305.49 on Monday. The company has a market cap of $218.00 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 3.11 and a beta of 0.49. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The business has a 50-day simple moving average of $305.33 and a 200 day simple moving average of $306.57.
McDonald’s (NYSE:MCD – Get Free Report) last issued its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.97 earnings per share. On average, analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.
McDonald’s Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. McDonald’s’s payout ratio is 60.67%.
Insider Transactions at McDonald’s
In other news, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,341 shares of company stock valued at $2,544,327. 0.25% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of research firms have commented on MCD. Truist Financial lifted their price objective on shares of McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Evercore ISI lifted their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Loop Capital cut shares of McDonald’s from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $346.00 to $315.00 in a research report on Friday, June 6th. The Goldman Sachs Group raised shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective for the company in a research report on Thursday, July 10th. Finally, TD Securities reaffirmed a “hold” rating and set a $305.00 price objective on shares of McDonald’s in a research report on Thursday, June 5th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $325.14.
Get Our Latest Research Report on McDonald’s
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.
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