Strong Tower Advisory Services Buys 425 Shares of McDonald’s Corporation $MCD

Strong Tower Advisory Services lifted its stake in McDonald’s Corporation (NYSE:MCD) by 5.2% during the second quarter, HoldingsChannel.com reports. The firm owned 8,547 shares of the fast-food giant’s stock after purchasing an additional 425 shares during the quarter. Strong Tower Advisory Services’ holdings in McDonald’s were worth $2,497,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in McDonald’s by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant’s stock worth $21,993,689,000 after acquiring an additional 239,753 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in McDonald’s by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after acquiring an additional 1,344,954 shares during the last quarter. Northern Trust Corp raised its holdings in McDonald’s by 1.1% in the 1st quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant’s stock worth $2,800,447,000 after acquiring an additional 97,966 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in McDonald’s by 2.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant’s stock valued at $1,606,354,000 after buying an additional 123,454 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in 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 buying an additional 815,768 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the transaction, the executive vice president owned 8,754 shares of the company’s stock, valued at $2,713,740. This represents a 22.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were 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 of the company’s stock, valued at $30,690. This trade represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,402 shares of company stock worth $1,973,407 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MCD shares. KeyCorp reiterated an “overweight” rating and set a $335.00 target price (up from $325.00) on shares of McDonald’s in a research note on Thursday, August 7th. Truist Financial boosted their target price on shares of McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. The Goldman Sachs Group upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 target price for the company in a research note on Thursday, July 10th. Piper Sandler boosted their target price on shares of McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Finally, Melius started coverage on McDonald’s in a research note on Monday, July 14th. They issued a “sell” rating and a $250.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $325.18.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $297.07 on Friday. The company has a market capitalization of $211.99 billion, a P/E ratio of 25.46, a P/E/G ratio of 3.09 and a beta of 0.50. The company has a fifty day moving average of $306.31 and a 200 day moving average of $305.79. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

McDonald’s (NYSE:MCD) last issued 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. The company 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%. McDonald’s’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.97 EPS. Analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

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

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.