Seamount Financial Group Inc. Purchases 65 Shares of McDonald’s Corporation $MCD

Seamount Financial Group Inc. increased its position in shares of McDonald’s Corporation (NYSE:MCD) by 2.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,324 shares of the fast-food giant’s stock after purchasing an additional 65 shares during the period. Seamount Financial Group Inc.’s holdings in McDonald’s were worth $679,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. acquired a new stake in shares of McDonald’s in the first quarter valued at approximately $26,000. HFM Investment Advisors LLC bought a new stake in McDonald’s in the 1st quarter valued at $26,000. Abound Financial LLC acquired a new stake in McDonald’s during the 1st quarter valued at $30,000. Redmont Wealth Advisors LLC bought a new position in McDonald’s during the first quarter worth $31,000. Finally, Financial Gravity Asset Management Inc. bought a new position in McDonald’s during the first quarter worth $31,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MCD shares. Truist Financial increased their price objective 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 reissued a “sell” rating and issued a $260.00 price target (down from $319.00) on shares of McDonald’s in a report on Tuesday, June 10th. Stifel Nicolaus boosted their price objective on McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Friday, August 22nd. Melius started coverage on McDonald’s in a research report on Monday, July 14th. They issued a “sell” rating and a $250.00 target price on the stock. Finally, Morgan Stanley lifted their price target on McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a report on Monday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $325.86.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, the insider directly owned 9,283 shares in the company, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,402 shares of company stock worth $2,273,407 in the last ninety days. 0.25% of the stock is owned by company insiders.

McDonald’s Trading Down 1.6%

Shares of MCD opened at $296.09 on Tuesday. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The firm’s 50 day moving average is $306.87 and its 200-day moving average is $306.09. The stock has a market capitalization of $211.29 billion, a PE ratio of 25.37, a P/E/G ratio of 3.07 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the prior year, the business posted $2.97 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

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

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.