RKL Wealth Management LLC Purchases 562 Shares of McDonald’s Corporation $MCD

RKL Wealth Management LLC increased its position in shares of McDonald’s Corporation (NYSE:MCD) by 5.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,146 shares of the fast-food giant’s stock after acquiring an additional 562 shares during the period. RKL Wealth Management LLC’s holdings in McDonald’s were worth $2,964,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCD. Nuveen LLC bought a new position in shares of McDonald’s in the 1st quarter worth $1,324,961,000. Price T Rowe Associates Inc. MD grew its holdings in shares of McDonald’s by 16.8% during the 1st 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 purchasing an additional 1,344,954 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of McDonald’s by 19.6% during the 1st 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 purchasing an additional 815,768 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of McDonald’s by 732.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock valued at $203,211,000 after purchasing an additional 572,408 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of McDonald’s by 204.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock valued at $177,390,000 after purchasing an additional 407,982 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Down 1.0%

Shares of MCD stock opened at $300.81 on Thursday. The company has a 50 day moving average price of $306.78 and a 200-day moving average price of $306.21. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The firm has a market capitalization of $214.66 billion, a PE ratio of 25.78, a P/E/G ratio of 3.09 and a beta of 0.51.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same period in the previous year, the business posted $2.97 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s payout ratio is 60.67%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the transaction, the insider owned 9,283 shares of the company’s stock, valued at $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. This represents a 22.12% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,402 shares of company stock valued at $2,273,407. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MCD shares. Truist Financial increased their price target on shares of McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Morgan Stanley raised their target price on shares of McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. BMO Capital Markets raised their target price on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. TD Securities reaffirmed a “hold” rating and issued a $305.00 target price on shares of McDonald’s in a research report on Thursday, June 5th. Finally, The Goldman Sachs Group upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target for the company in a research note on Thursday, July 10th. 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 data from MarketBeat, the company has an average rating of “Hold” and an average price target of $325.86.

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.