Financial Advisory Corp Buys New Shares in McDonald’s Co. (NYSE:MCD)

Financial Advisory Corp bought a new stake in shares of McDonald’s Co. (NYSE:MCD) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 682 shares of the fast-food giant’s stock, valued at approximately $213,000.

A number of other institutional investors also recently modified their holdings of the stock. Granite Bay Wealth Management LLC lifted its position in shares of McDonald’s by 3.5% during the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant’s stock valued at $309,000 after acquiring an additional 33 shares during the period. Northeast Financial Consultants Inc raised its holdings in McDonald’s by 0.5% during the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant’s stock worth $2,170,000 after buying an additional 34 shares during the last quarter. Tealwood Asset Management Inc. raised its holdings in McDonald’s by 0.4% during the first quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant’s stock worth $2,535,000 after buying an additional 34 shares during the last quarter. Pettee Investors Inc. raised its holdings in McDonald’s by 0.7% during the fourth quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock worth $1,566,000 after buying an additional 35 shares during the last quarter. Finally, Covestor Ltd raised its holdings in McDonald’s by 4.1% during the fourth quarter. Covestor Ltd now owns 899 shares of the fast-food giant’s stock worth $261,000 after buying an additional 35 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $315.07, for a total value of $295,850.73. Following the completion of the transaction, the insider now directly owns 11,161 shares in the company, valued at $3,516,496.27. This trade represents a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on MCD. Bank of America upped their price objective on shares of McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. upped their price objective on shares of McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Piper Sandler upped their price objective on shares of McDonald’s from $292.00 to $314.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Erste Group Bank downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 24th. Finally, BTIG Research reiterated a “neutral” rating on shares of McDonald’s in a report on Tuesday, April 22nd. Thirteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $324.96.

McDonald’s Price Performance

MCD stock opened at $307.44 on Friday. The company has a market capitalization of $219.83 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 3.10 and a beta of 0.56. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $326.32. The business has a 50 day simple moving average of $312.29 and a two-hundred day simple moving average of $302.66.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting the consensus estimate of $2.67. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. McDonald’s’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.70 EPS. Sell-side analysts anticipate that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.30%. The ex-dividend date is Monday, June 2nd. McDonald’s’s dividend payout ratio is presently 62.49%.

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.