McDonald’s Corporation $MCD Shares Acquired by NewSquare Capital LLC

NewSquare Capital LLC increased its position in McDonald’s Corporation (NYSE:MCD) by 80.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 528 shares of the fast-food giant’s stock after acquiring an additional 235 shares during the period. NewSquare Capital LLC’s holdings in McDonald’s were worth $154,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. HFM Investment Advisors LLC purchased a new position in McDonald’s during the first quarter worth approximately $26,000. Nova Wealth Management Inc. acquired a new stake in shares of McDonald’s during the 1st quarter worth $26,000. GFG Capital LLC acquired a new stake in shares of McDonald’s during the 2nd quarter worth $29,000. Abound Financial LLC acquired a new stake in shares of McDonald’s during the 1st quarter worth $30,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of McDonald’s during the 1st quarter worth $31,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Up 0.9%

MCD opened at $299.18 on Wednesday. The company has a market cap of $213.50 billion, a P/E ratio of 25.64, a P/E/G ratio of 3.23 and a beta of 0.50. The company has a 50 day moving average of $305.07 and a two-hundred day moving average of $305.25. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32.

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

McDonald’s Increases Dividend

The firm 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 dividend of $1.86 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, December 1st. McDonald’s’s payout ratio is 63.75%.

Analysts Set New Price Targets

A number of analysts have recently commented on MCD shares. Wells Fargo & Company dropped their price objective on McDonald’s from $350.00 to $340.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective for the company in a report on Thursday, July 10th. KeyCorp reiterated an “overweight” rating and set a $335.00 price objective on shares of McDonald’s in a research note on Monday, October 20th. BTIG Research reiterated a “neutral” rating on shares of McDonald’s in a research note on Friday, October 24th. Finally, Truist Financial decreased their price objective on shares of McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, McDonald’s has a consensus rating of “Hold” and a consensus price target of $323.43.

Insider Activity

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was 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 directly owned 6,858 shares in the company, valued at $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the sale, the executive vice president owned 99 shares of the company’s stock, valued at $30,690. This represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is owned by company insiders.

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.