PUREfi Wealth LLC Has $848,000 Position in McDonald’s Corporation $MCD

PUREfi Wealth LLC lifted its position in shares of McDonald’s Corporation (NYSE:MCD) by 19.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,902 shares of the fast-food giant’s stock after purchasing an additional 471 shares during the quarter. PUREfi Wealth LLC’s holdings in McDonald’s were worth $848,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nova Wealth Management Inc. acquired a new position in shares of McDonald’s during the first quarter worth about $26,000. HFM Investment Advisors LLC acquired a new position in shares of McDonald’s during the first quarter worth about $26,000. Abound Financial LLC bought a new stake in McDonald’s during the first quarter worth about $30,000. Redmont Wealth Advisors LLC bought a new stake in McDonald’s during the first quarter worth about $31,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in McDonald’s during the first quarter worth about $31,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MCD. BMO Capital Markets upped their target price on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Bank of America dropped their target price on McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 target price on the stock in a report on Thursday, July 10th. KeyCorp reiterated an “overweight” rating and set a $335.00 target price (up previously from $325.00) on shares of McDonald’s in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their target price on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Twelve 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $325.86.

McDonald’s Stock Up 0.3%

NYSE:MCD opened at $300.72 on Monday. The stock’s 50 day moving average price is $306.93 and its two-hundred day moving average price is $306.15. The firm has a market capitalization of $214.59 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 3.07 and a beta of 0.50. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32.

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

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $1.77 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

Insider Transactions at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the transaction, the chief marketing officer owned 8,858 shares in the company, valued at approximately $2,657,400. This trade represents a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,402 shares of company stock worth $2,273,407 in the last ninety days. 0.25% of the stock is currently owned by company insiders.

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.