RMG Wealth Management LLC Purchases Shares of 2,617 McDonald’s Corporation $MCD

RMG Wealth Management LLC purchased a new stake in McDonald’s Corporation (NYSE:MCD) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,617 shares of the fast-food giant’s stock, valued at approximately $778,000. McDonald’s comprises about 0.1% of RMG Wealth Management LLC’s holdings, making the stock its 22nd biggest holding.

Other hedge funds have also recently bought and sold shares of the company. Seamount Financial Group Inc. raised its holdings in shares of McDonald’s by 2.9% in the second quarter. Seamount Financial Group Inc. now owns 2,324 shares of the fast-food giant’s stock valued at $679,000 after purchasing an additional 65 shares during the last quarter. Motiv8 Investments LLC increased its stake in McDonald’s by 10.6% in the 2nd quarter. Motiv8 Investments LLC now owns 4,484 shares of the fast-food giant’s stock valued at $1,310,000 after buying an additional 430 shares during the last quarter. KPP Advisory Services LLC lifted its position in shares of McDonald’s by 0.7% during the 2nd quarter. KPP Advisory Services LLC now owns 5,668 shares of the fast-food giant’s stock worth $1,656,000 after buying an additional 38 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in shares of McDonald’s by 30.5% in the 2nd quarter. Belpointe Asset Management LLC now owns 18,170 shares of the fast-food giant’s stock worth $5,309,000 after buying an additional 4,245 shares during the last quarter. Finally, PUREfi Wealth LLC grew its holdings in shares of McDonald’s by 19.4% in the second quarter. PUREfi Wealth LLC now owns 2,902 shares of the fast-food giant’s stock valued at $848,000 after acquiring an additional 471 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Trading Down 1.6%

Shares of McDonald’s stock opened at $296.09 on Tuesday. The company’s 50-day moving average price is $306.87 and its 200-day moving average price is $306.09. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The company has a market cap of $211.29 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 3.07 and a beta of 0.50.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating the consensus estimate of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter in the previous year, the company earned $2.97 earnings per share. McDonald’s’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, 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 disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MCD shares. The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target on the stock in a report on Thursday, July 10th. Barclays lifted their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Truist Financial increased their target price on shares of McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Redburn Atlantic restated a “sell” rating and set a $260.00 price target (down previously from $319.00) on shares of McDonald’s in a research note on Tuesday, June 10th. Finally, Melius assumed coverage on McDonald’s in a research report on Monday, July 14th. They issued a “sell” rating and a $250.00 target price for the company. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $325.86.

Insiders Place Their Bets

In other news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the sale, the chief marketing officer owned 6,858 shares in the company, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction that occurred 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 transaction, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,402 shares of company stock worth $2,273,407 over the last three months. Corporate insiders own 0.25% of the company’s stock.

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.