Meridian Wealth Management LLC Has $2.25 Million Stake in McDonald’s Corporation (NYSE:MCD)

Meridian Wealth Management LLC decreased its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,209 shares of the fast-food giant’s stock after selling 153 shares during the quarter. Meridian Wealth Management LLC’s holdings in McDonald’s were worth $2,252,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in MCD. First American Trust FSB lifted its stake in shares of McDonald’s by 55.9% during the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock worth $11,532,000 after buying an additional 13,234 shares during the last quarter. Red Door Wealth Management LLC lifted its stake in shares of McDonald’s by 1.9% during the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant’s stock worth $1,788,000 after buying an additional 109 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of McDonald’s by 5.6% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant’s stock worth $107,867,000 after buying an additional 18,393 shares during the last quarter. Sagespring Wealth Partners LLC lifted its stake in shares of McDonald’s by 22.9% during the 1st quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant’s stock worth $5,381,000 after buying an additional 3,212 shares during the last quarter. Finally, Segment Wealth Management LLC lifted its stake in shares of McDonald’s by 1.7% during the 1st quarter. Segment Wealth Management LLC now owns 54,672 shares of the fast-food giant’s stock worth $17,078,000 after buying an additional 937 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the sale, the executive vice president owned 8,754 shares in the company, valued at $2,713,740. This represents a 22.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 976 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $303.50, for a total transaction of $296,216.00. Following the completion of the sale, the chief marketing officer owned 7,882 shares of the company’s stock, valued at approximately $2,392,187. The trade was a 11.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,280 shares of company stock worth $2,215,178 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

McDonald’s Stock Down 0.3%

McDonald’s stock opened at $304.39 on Tuesday. McDonald’s Corporation has a 12-month low of $265.33 and a 12-month high of $326.32. The firm’s fifty day moving average is $298.39 and its 200 day moving average is $304.76. The company has a market capitalization of $217.21 billion, a PE ratio of 26.08, a PEG ratio of 3.12 and a beta of 0.52.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate 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 was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.97 earnings per share. Sell-side analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. McDonald’s’s payout ratio is presently 60.67%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. TD Securities reaffirmed a “hold” rating and set a $305.00 price target on shares of McDonald’s in a research report on Thursday, June 5th. Piper Sandler raised their target price on shares of McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. BMO Capital Markets reissued an “outperform” rating and issued a $350.00 target price (up from $345.00) on shares of McDonald’s in a report on Thursday, August 7th. Melius started coverage on shares of McDonald’s in a report on Monday, July 14th. They issued a “sell” rating and a $250.00 target price on the stock. Finally, Northcoast Research lowered shares of McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $326.87.

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.