Armstrong Fleming & Moore Inc Purchases New Holdings in McDonald’s Corporation $MCD

Armstrong Fleming & Moore Inc purchased a new stake in McDonald’s Corporation (NYSE:MCD) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 830 shares of the fast-food giant’s stock, valued at approximately $243,000.

Several other hedge funds have also made changes to their positions in the company. Fulton Breakefield Broenniman LLC lifted its position in shares of McDonald’s by 0.4% in the 2nd quarter. Fulton Breakefield Broenniman LLC now owns 72,890 shares of the fast-food giant’s stock valued at $21,296,000 after acquiring an additional 290 shares in the last quarter. InTrack Investment Management Inc lifted its position in shares of McDonald’s by 7.1% in the 2nd quarter. InTrack Investment Management Inc now owns 4,952 shares of the fast-food giant’s stock valued at $1,447,000 after acquiring an additional 330 shares in the last quarter. Values Added Financial LLC lifted its position in shares of McDonald’s by 18.4% in the 2nd quarter. Values Added Financial LLC now owns 967 shares of the fast-food giant’s stock valued at $283,000 after acquiring an additional 150 shares in the last quarter. Cohen Investment Advisors LLC lifted its position in shares of McDonald’s by 2.6% in the 2nd quarter. Cohen Investment Advisors LLC now owns 11,827 shares of the fast-food giant’s stock valued at $3,455,000 after acquiring an additional 295 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its position in shares of McDonald’s by 49.3% in the 2nd quarter. Vontobel Holding Ltd. now owns 51,815 shares of the fast-food giant’s stock valued at $15,139,000 after acquiring an additional 17,113 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of MCD opened at $294.44 on Thursday. The company has a market capitalization of $210.11 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 3.02 and a beta of 0.50. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32. The company’s fifty day moving average price is $306.56 and its 200 day moving average price is $305.94.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $2.97 EPS. Analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction 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 sale, 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 document filed with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the sale, the insider owned 9,283 shares in the company, valued at $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,402 shares of company stock valued at $1,973,407. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the subject of a number of research reports. Weiss Ratings reissued a “buy (b)” rating on shares of McDonald’s in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Truist Financial lifted 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. Stifel Nicolaus lifted their target price on shares of McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Friday, August 22nd. Finally, BMO Capital Markets lifted their target price on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Eleven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $324.73.

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.