CFM Wealth Partners LLC Purchases 146 Shares of McDonald’s Corporation $MCD

CFM Wealth Partners LLC boosted its position in shares of McDonald’s Corporation (NYSE:MCD) by 0.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 19,530 shares of the fast-food giant’s stock after acquiring an additional 146 shares during the quarter. CFM Wealth Partners LLC’s holdings in McDonald’s were worth $5,706,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Nova Wealth Management Inc. purchased a new position in shares of McDonald’s during the first quarter worth approximately $26,000. HFM Investment Advisors LLC purchased a new stake in McDonald’s during the first quarter valued at approximately $26,000. Abound Financial LLC purchased a new stake in McDonald’s during the first quarter valued at approximately $30,000. Redmont Wealth Advisors LLC purchased a new stake in McDonald’s during the first quarter valued at approximately $31,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of McDonald’s during the first quarter valued at $31,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

McDonald’s stock opened at $296.09 on Tuesday. The company’s 50 day simple moving average is $306.87 and its 200-day simple moving average is $306.09. The company has a market capitalization of $211.29 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 3.07 and a beta of 0.50. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year 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, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the prior year, the firm earned $2.97 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts expect 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 paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s dividend payout ratio is presently 60.67%.

Analysts Set New Price Targets

A number of analysts have commented on MCD shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of McDonald’s in a research report on Saturday, September 27th. Truist Financial raised 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. Evercore ISI lifted their target price on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Morgan Stanley lifted their target price on shares of McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a research report on Monday, July 14th. Finally, Melius initiated coverage on shares of McDonald’s in a research report on Monday, July 14th. They set a “sell” rating and a $250.00 price target on the stock. Twelve analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $325.86.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider directly owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 transaction, the chief marketing officer owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. The trade was a 12.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,402 shares of company stock valued at $2,273,407. 0.25% of the stock is currently owned by company insiders.

About McDonald’s

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.