Oppenheimer Asset Management Inc. Boosts Stock Holdings in McDonald’s Corporation $MCD

Oppenheimer Asset Management Inc. grew its holdings in McDonald’s Corporation (NYSE:MCD) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,438 shares of the fast-food giant’s stock after purchasing an additional 46 shares during the period. Oppenheimer Asset Management Inc.’s holdings in McDonald’s were worth $4,218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MCD. Nova Wealth Management Inc. purchased a new stake in shares of McDonald’s in the first quarter worth about $26,000. HFM Investment Advisors LLC purchased a new stake in McDonald’s in the 1st quarter worth approximately $26,000. Abound Financial LLC bought a new position in McDonald’s in the 1st quarter valued at $30,000. GFG Capital LLC purchased a new position in shares of McDonald’s during the 2nd quarter valued at $29,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of McDonald’s during the 1st quarter valued at $31,000. 70.29% of the stock is owned by institutional investors.

McDonald’s Price Performance

Shares of MCD opened at $306.79 on Wednesday. The firm has a market cap of $218.93 billion, a P/E ratio of 26.29, a P/E/G ratio of 3.31 and a beta of 0.50. The stock has a 50 day simple moving average of $306.44 and a two-hundred day simple moving average of $305.71. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly 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. 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 last year, the firm posted $2.97 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. On average, equities 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 declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $1.86 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, December 1st. McDonald’s’s payout ratio is presently 60.67%.

Insider Buying and Selling at McDonald’s

In related news, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the transaction, the executive vice president directly owned 99 shares in the company, valued at $30,690. This trade represents a 90.99% decrease in their position. The transaction was disclosed in a legal filing 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 stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,463 shares of company stock worth $1,692,186 over the last three months. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MCD. Citigroup lowered their price objective on McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, October 21st. Wells Fargo & Company lowered their price target on McDonald’s from $350.00 to $340.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Piper Sandler reissued a “neutral” rating and set a $325.00 price objective on shares of McDonald’s in a report on Wednesday, October 22nd. KeyCorp reaffirmed an “overweight” rating and issued a $335.00 target price on shares of McDonald’s in a research note on Monday, October 20th. Finally, Royal Bank Of Canada initiated coverage on shares of McDonald’s in a research report on Wednesday, October 8th. They set a “sector perform” rating and a $320.00 target price for the company. Eleven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, McDonald’s has an average rating of “Hold” and a consensus target price of $323.43.

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.