Grimes & Company Inc. Has $3.68 Million Holdings in McDonald’s Corporation $MCD

Grimes & Company Inc. boosted its stake in McDonald’s Corporation (NYSE:MCD) by 5.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,585 shares of the fast-food giant’s stock after buying an additional 615 shares during the quarter. Grimes & Company Inc.’s holdings in McDonald’s were worth $3,677,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in McDonald’s by 21.6% during the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock valued at $2,692,000 after purchasing an additional 1,649 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings 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 buying an additional 52 shares in the last quarter. Quotient Wealth Partners LLC raised its stake in shares of McDonald’s by 10.9% in the first quarter. Quotient Wealth Partners LLC now owns 2,616 shares of the fast-food giant’s stock valued at $817,000 after acquiring an additional 258 shares during the last quarter. First Affirmative Financial Network acquired a new position in shares of McDonald’s in the 1st quarter worth approximately $250,000. Finally, Sivia Capital Partners LLC boosted its holdings in shares of McDonald’s by 4.1% in the 1st quarter. Sivia Capital Partners LLC now owns 1,811 shares of the fast-food giant’s stock worth $566,000 after acquiring an additional 72 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Price Performance

MCD opened at $300.72 on Monday. The firm has a 50 day simple moving average of $306.93 and a 200 day simple moving average of $306.15. 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 $214.59 billion, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 3.07 and a beta of 0.50.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $2.97 earnings per share. As a group, analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

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

Insider Buying and Selling

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president owned 8,754 shares of the company’s stock, valued at $2,713,740. This trade represents a 22.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief marketing officer directly owned 8,858 shares of the company’s stock, valued at $2,657,400. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,402 shares of company stock worth $2,273,407 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MCD has been the subject of several research analyst reports. Bank of America cut their price objective on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research report on Friday, July 18th. BMO Capital Markets raised their target price on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Piper Sandler lifted their price target on McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. TD Cowen upped their price target on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, August 6th. Finally, Stifel Nicolaus raised their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research report on Friday, August 22nd. Twelve analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $325.86.

About McDonald’s

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.