Moss Adams Wealth Advisors LLC Buys 299 Shares of McDonald’s Corporation $MCD

Moss Adams Wealth Advisors LLC raised its stake in shares of McDonald’s Corporation (NYSE:MCD) by 8.7% in the second quarter, Holdings Channel reports. The fund owned 3,717 shares of the fast-food giant’s stock after acquiring an additional 299 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in McDonald’s were worth $1,086,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCD. Nuveen LLC bought a new position in shares of McDonald’s during the first quarter valued at $1,324,961,000. Price T Rowe Associates Inc. MD increased its position in McDonald’s by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after acquiring an additional 1,344,954 shares in the last quarter. Goldman Sachs Group Inc. increased its position in McDonald’s by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after acquiring an additional 815,768 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in McDonald’s by 732.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock valued at $203,211,000 after acquiring an additional 572,408 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in McDonald’s by 204.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock valued at $177,390,000 after acquiring an additional 407,982 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. The trade was a 22.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider owned 9,283 shares in the company, valued at $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,402 shares of company stock worth $2,273,407. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MCD. Citigroup lifted their price objective on McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. KeyCorp reiterated an “overweight” rating and issued a $335.00 price objective (up from $325.00) on shares of McDonald’s in a research report on Thursday, August 7th. Bank of America lowered their price objective on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research report on Friday, July 18th. Piper Sandler lifted their price objective on McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Finally, BMO Capital Markets boosted their target price on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Eleven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $325.86.

McDonald’s Price Performance

NYSE:MCD opened at $305.10 on Monday. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The stock has a market capitalization of $217.72 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 3.11 and a beta of 0.49. The business’s 50-day simple moving average is $306.48 and its 200-day simple moving average is $306.25.

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, beating the consensus estimate of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter in the previous year, the business posted $2.97 EPS. McDonald’s’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, research analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $1.77 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.3%. McDonald’s’s payout ratio is presently 60.67%.

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.