8,264 Shares in McDonald’s Corporation $MCD Purchased by Trinity Legacy Partners LLC

Trinity Legacy Partners LLC bought a new position in shares of McDonald’s Corporation (NYSE:MCD) in the 2nd quarter, Holdings Channel.com reports. The firm bought 8,264 shares of the fast-food giant’s stock, valued at approximately $2,470,000.

Several other institutional investors have also recently made changes to their positions in MCD. Brighton Jones LLC grew its position in shares of McDonald’s by 21.6% during the fourth quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock worth $2,692,000 after purchasing an additional 1,649 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of McDonald’s by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock worth $563,000 after purchasing an additional 52 shares in the last quarter. Quotient Wealth Partners LLC grew its position in shares of McDonald’s by 10.9% during the first quarter. Quotient Wealth Partners LLC now owns 2,616 shares of the fast-food giant’s stock worth $817,000 after purchasing an additional 258 shares in the last quarter. Clare Market Investments LLC grew its position in shares of McDonald’s by 14.8% during the first quarter. Clare Market Investments LLC now owns 1,987 shares of the fast-food giant’s stock worth $621,000 after purchasing an additional 256 shares in the last quarter. Finally, Matrix Trust Co grew its position in shares of McDonald’s by 1.1% during the first quarter. Matrix Trust Co now owns 7,571 shares of the fast-food giant’s stock worth $2,365,000 after purchasing an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

MCD has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Redburn Atlantic reissued a “sell” rating and set a $260.00 price target (down from $319.00) on shares of McDonald’s in a research note on Tuesday, June 10th. Stifel Nicolaus increased their price target on McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Friday, August 22nd. Piper Sandler increased their price target on McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Finally, Bank of America dropped their price target on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $325.86.

Insiders Place Their Bets

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was 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 in the company, valued at $30,690. The trade was a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,402 shares of company stock valued at $2,273,407. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $300.09 on Friday. The business’s 50 day moving average price is $306.88 and its 200-day moving average price is $306.19. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The company has a market cap of $214.15 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 3.06 and a beta of 0.50.

McDonald’s (NYSE:MCD) last issued its quarterly 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 negative return on equity of 225.52% and a net margin of 32.21%.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 business posted $2.97 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

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

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.