Cohen Investment Advisors LLC Raises Stake in McDonald’s Corporation $MCD

Cohen Investment Advisors LLC boosted its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 2.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 11,827 shares of the fast-food giant’s stock after purchasing an additional 295 shares during the period. McDonald’s makes up 1.8% of Cohen Investment Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Cohen Investment Advisors LLC’s holdings in McDonald’s were worth $3,455,000 as of its most recent SEC filing.

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

McDonald’s Stock Performance

McDonald’s stock opened at $294.44 on Thursday. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The firm has a 50 day moving average price of $306.56 and a 200 day moving average price of $305.94. The company has a market cap of $210.11 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 3.02 and a beta of 0.50.

McDonald’s (NYSE:MCD) last released its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the previous year, the firm earned $2.97 earnings per share. McDonald’s’s revenue was up 5.4% compared to the same quarter last year. Sell-side analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

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

Insider Activity at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s stock in a transaction that occurred 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 directly owned 8,754 shares in the company, valued at approximately $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business’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 owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,402 shares of company stock valued at $1,973,407 in the last ninety days. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MCD. Morgan Stanley lifted their target price on shares of McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. The Goldman Sachs Group upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 target price for the company in a research report on Thursday, July 10th. Argus cut shares of McDonald’s from a “buy” rating to a “hold” rating in a research report on Friday, June 13th. Evercore ISI lifted their target price on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, Truist Financial lifted their target price on shares of McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, McDonald’s currently has a consensus rating of “Hold” and an average price target of $324.73.

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.