Family Legacy Financial Solutions LLC Purchases New Position in McDonald’s Corporation $MCD

Family Legacy Financial Solutions LLC acquired a new position in McDonald’s Corporation (NYSE:MCD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 111 shares of the fast-food giant’s stock, valued at approximately $32,000.

Several other hedge funds have also recently made changes to their positions in MCD. WealthPlan Investment Management LLC raised its holdings in McDonald’s by 0.9% in the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock worth $1,134,000 after purchasing an additional 32 shares in the last quarter. Granite Bay Wealth Management LLC raised its position in shares of McDonald’s by 3.5% in the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant’s stock worth $309,000 after acquiring an additional 33 shares in the last quarter. CVA Family Office LLC boosted its position in shares of McDonald’s by 1.9% during the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant’s stock valued at $560,000 after purchasing an additional 33 shares in the last quarter. Consilium Wealth Advisory LLC grew its stake in McDonald’s by 2.5% in the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant’s stock worth $417,000 after purchasing an additional 33 shares during the period. Finally, Security Financial Services INC. raised its holdings in McDonald’s by 0.7% in the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock worth $1,575,000 after purchasing an additional 33 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Up 0.4%

MCD stock opened at $304.51 on Thursday. The business’s 50-day moving average price is $305.96 and its 200-day moving average price is $306.49. The stock has a market cap of $217.30 billion, a P/E ratio of 26.09, a PEG ratio of 3.09 and a beta of 0.50. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32.

McDonald’s (NYSE:MCD) last released its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.97 EPS. On average, equities research analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $1.77 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

Analyst Ratings Changes

MCD has been the topic of a number of research reports. TD Cowen boosted their target price on shares of McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, August 6th. Piper Sandler boosted their price objective on shares of McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Truist Financial upped their price objective on shares of McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Evercore ISI lifted their target price on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, TD Securities restated a “hold” rating and issued a $305.00 price target on shares of McDonald’s in a research note on Thursday, June 5th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $325.86.

Insiders Place Their Bets

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the sale, the executive vice president directly owned 99 shares of the company’s stock, valued at $30,690. This trade represents a 90.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction 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 directly owned 9,283 shares in the company, valued at $2,780,165.67. This trade represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,341 shares of company stock worth $2,544,327. Company insiders own 0.25% of the company’s stock.

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.