Fortune Financial Advisors LLC Increases Position in McDonald’s Co. (NYSE:MCD)

Fortune Financial Advisors LLC lifted its holdings in McDonald’s Co. (NYSE:MCD) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,314 shares of the fast-food giant’s stock after purchasing an additional 83 shares during the period. Fortune Financial Advisors LLC’s holdings in McDonald’s were worth $844,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MCD. Gilbert & Cook Inc. increased its stake in McDonald’s by 20.7% during the 4th quarter. Gilbert & Cook Inc. now owns 4,384 shares of the fast-food giant’s stock worth $1,300,000 after buying an additional 753 shares in the last quarter. Aveo Capital Partners LLC grew its position in shares of McDonald’s by 14.5% in the fourth quarter. Aveo Capital Partners LLC now owns 1,899 shares of the fast-food giant’s stock valued at $563,000 after purchasing an additional 240 shares in the last quarter. 9258 Wealth Management LLC grew its position in shares of McDonald’s by 4.2% in the fourth quarter. 9258 Wealth Management LLC now owns 2,796 shares of the fast-food giant’s stock valued at $829,000 after purchasing an additional 113 shares in the last quarter. Gryphon Financial Partners LLC grew its position in shares of McDonald’s by 99.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 5,892 shares of the fast-food giant’s stock valued at $1,722,000 after purchasing an additional 2,935 shares in the last quarter. Finally, M&G Investment Management Ltd. purchased a new stake in shares of McDonald’s in the fourth quarter valued at approximately $8,449,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MCD. TD Cowen lowered McDonald’s from a “buy” rating to a “hold” rating and dropped their price target for the company from $285.00 to $280.00 in a research report on Wednesday, July 31st. KeyCorp dropped their price target on McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Evercore ISI upped their price objective on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Monday, August 19th. BMO Capital Markets decreased their price objective on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Finally, Truist Financial decreased their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $304.41.

McDonald’s Trading Down 0.4 %

Shares of NYSE MCD opened at $290.14 on Thursday. The stock has a market cap of $209.10 billion, a P/E ratio of 24.63, a PEG ratio of 3.87 and a beta of 0.72. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $302.39. The business’s fifty day simple moving average is $271.14 and its 200-day simple moving average is $270.66.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.17 earnings per share. On average, equities analysts forecast that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s payout ratio is currently 56.71%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the transaction, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the transaction, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the transaction, the insider now directly owns 13,681 shares in the company, valued at approximately $3,557,060. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,291 shares of company stock worth $1,689,073. Corporate insiders own 0.23% of the company’s stock.

About McDonald’s

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.