FRG Family Wealth Advisors LLC Has $3.12 Million Stock Holdings in McDonald’s Corporation $MCD

FRG Family Wealth Advisors LLC trimmed its position in McDonald’s Corporation (NYSE:MCD) by 3.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 10,671 shares of the fast-food giant’s stock after selling 330 shares during the period. FRG Family Wealth Advisors LLC’s holdings in McDonald’s were worth $3,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HFM Investment Advisors LLC acquired a new position in McDonald’s in the 1st quarter valued at $26,000. Nova Wealth Management Inc. acquired a new position in McDonald’s in the 1st quarter valued at $26,000. GFG Capital LLC acquired a new position in McDonald’s in the 2nd quarter valued at $29,000. Abound Financial LLC acquired a new position in McDonald’s in the 1st quarter valued at $30,000. Finally, Redmont Wealth Advisors LLC acquired a new position in McDonald’s in the 1st quarter valued at $31,000. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Down 1.4%

Shares of MCD stock opened at $302.18 on Thursday. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The company has a market cap of $215.64 billion, a P/E ratio of 25.89, a P/E/G ratio of 3.28 and a beta of 0.50. The business has a fifty day simple moving average of $306.22 and a 200 day simple moving average of $305.66.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data 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 business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the prior year, the company earned $2.97 EPS. McDonald’s’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities research analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $1.86 per share. The ex-dividend date is Monday, December 1st. This represents a $7.44 annualized dividend and a dividend yield of 2.5%. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio is currently 60.67%.

Insider Buying and Selling

In related news, EVP Jonathan Banner sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the sale, the executive vice president directly owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company’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 sale, the chief marketing officer owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 5,463 shares of company stock worth $1,692,186 in the last ninety days. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MCD shares. Evercore ISI increased their target price on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. JPMorgan Chase & Co. increased their target price on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Truist Financial reduced their target price on McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. 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, October 21st. Finally, BMO Capital Markets increased their target price on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Eleven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $323.43.

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.