Peterson Wealth Services Acquires Shares of 11,546 McDonald’s Corporation $MCD

Peterson Wealth Services purchased a new stake in shares of McDonald’s Corporation (NYSE:MCD) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,546 shares of the fast-food giant’s stock, valued at approximately $3,373,000.

A number of other large investors have also recently made changes to their positions in the business. HFM Investment Advisors LLC purchased a new position in shares of McDonald’s during the 1st quarter worth approximately $26,000. Nova Wealth Management Inc. purchased a new position in shares of McDonald’s in the first quarter worth $26,000. GFG Capital LLC purchased a new position in McDonald’s in the 2nd quarter worth about $29,000. Abound Financial LLC bought a new stake in shares of McDonald’s in the first quarter worth $30,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of McDonald’s during the 1st quarter valued at $31,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Down 0.3%

NYSE MCD opened at $306.05 on Friday. The company has a fifty day moving average of $306.49 and a two-hundred day moving average of $305.61. The firm has a market capitalization of $218.39 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 3.24 and a beta of 0.50. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating the consensus estimate of $3.15 by $0.04. The company had revenue of $6.84 billion for 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 firm’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.97 EPS. Equities research analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

Analysts Set New Price Targets

MCD has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of McDonald’s from $350.00 to $340.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Royal Bank Of Canada began coverage on shares of McDonald’s in a report on Wednesday, October 8th. They set a “sector perform” rating and a $320.00 price objective for the company. Citigroup reduced their target price on McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday. Weiss Ratings reissued a “buy (b)” rating on shares of McDonald’s in a research note on Wednesday, October 8th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of McDonald’s in a research note on Friday. Eleven equities research 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $324.50.

Insiders Place Their Bets

In other news, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the transaction, the executive vice president owned 99 shares of the company’s stock, valued at $30,690. The trade was a 90.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the transaction, the chief marketing officer owned 6,858 shares in the company, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,463 shares of company stock worth $1,692,186 in the last three months. Corporate insiders own 0.25% of the company’s stock.

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.