Legacy Financial Strategies LLC Acquires Shares of 732 McDonald’s Corporation $MCD

Legacy Financial Strategies LLC bought a new position in shares of McDonald’s Corporation (NYSE:MCD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 732 shares of the fast-food giant’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also modified their holdings of MCD. Mascagni Wealth Management Inc. purchased a new stake in shares of McDonald’s during the fourth quarter worth about $25,000. HFM Investment Advisors LLC acquired a new position in McDonald’s during the first quarter worth about $26,000. Nova Wealth Management Inc. acquired a new position in McDonald’s during the first quarter worth about $26,000. Pinney & Scofield Inc. acquired a new position in McDonald’s during the fourth quarter worth about $29,000. Finally, Abound Financial LLC acquired a new position in McDonald’s during the first quarter worth about $30,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other news, EVP Jonathan Banner sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the transaction, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. This represents a 90.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the sale, the chief marketing officer directly owned 6,858 shares in the company, valued at approximately $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,341 shares of company stock valued at $2,544,327. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Erste Group Bank lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 24th. TD Securities reiterated a “hold” rating and issued a $305.00 target price on shares of McDonald’s in a report on Thursday, June 5th. Redburn Atlantic reiterated a “sell” rating and issued a $260.00 target price (down from $319.00) on shares of McDonald’s in a report on Tuesday, June 10th. Guggenheim reiterated a “neutral” rating on shares of McDonald’s in a report on Friday, August 8th. Finally, Loop Capital lowered shares of McDonald’s from a “buy” rating to a “hold” rating and decreased their target price for the company from $346.00 to $315.00 in a report on Friday, June 6th. Eleven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $325.86.

McDonald’s Stock Performance

Shares of MCD stock opened at $301.19 on Friday. The firm’s 50 day moving average price is $306.01 and its 200-day moving average price is $306.47. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32. The firm has a market cap of $214.93 billion, a P/E ratio of 25.81, a P/E/G ratio of 3.11 and a beta of 0.50.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same period in the prior year, the business posted $2.97 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s dividend payout ratio is currently 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.