McDonald’s Co. (NYSE:MCD) Shares Acquired by Brighton Jones LLC

Brighton Jones LLC lifted its holdings in shares of McDonald’s Co. (NYSE:MCD) by 8.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,291 shares of the fast-food giant’s stock after buying an additional 646 shares during the period. Brighton Jones LLC’s holdings in McDonald’s were worth $2,113,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. UP Strategic Wealth Investment Advisors LLC boosted its position in shares of McDonald’s by 8.8% during the second quarter. UP Strategic Wealth Investment Advisors LLC now owns 1,387 shares of the fast-food giant’s stock worth $353,000 after buying an additional 112 shares during the period. Optimist Retirement Group LLC boosted its position in shares of McDonald’s by 4.5% during the second quarter. Optimist Retirement Group LLC now owns 6,876 shares of the fast-food giant’s stock worth $1,752,000 after buying an additional 296 shares during the period. Miramar Capital LLC boosted its position in shares of McDonald’s by 26.0% during the second quarter. Miramar Capital LLC now owns 53,691 shares of the fast-food giant’s stock worth $13,683,000 after buying an additional 11,081 shares during the period. SkyOak Wealth LLC boosted its position in shares of McDonald’s by 2.7% during the second quarter. SkyOak Wealth LLC now owns 6,750 shares of the fast-food giant’s stock worth $1,720,000 after buying an additional 177 shares during the period. Finally, CCLA Investment Management boosted its position in shares of McDonald’s by 11.0% during the second quarter. CCLA Investment Management now owns 400,080 shares of the fast-food giant’s stock worth $103,095,000 after buying an additional 39,743 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MCD. JPMorgan Chase & Co. upped their target price on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. KeyCorp cut their target price on McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. BMO Capital Markets cut their target price on McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Truist Financial cut their target price on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Finally, Morgan Stanley cut their target price on McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $306.11.

Insider Activity

In related news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. The disclosure for this sale can be found here. Insiders have sold a total of 5,193 shares of company stock worth $1,403,593 in the last ninety days. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Up 1.0 %

McDonald’s stock opened at $296.77 on Friday. The company’s fifty day simple moving average is $277.30 and its 200-day simple moving average is $270.88. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39. The stock has a market cap of $213.88 billion, a P/E ratio of 25.19, a P/E/G ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the prior year, the firm earned $3.17 earnings per share. The company’s revenue was down .1% on a year-over-year basis. On average, equities research analysts expect that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Tuesday, September 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

McDonald’s Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.