Concurrent Investment Advisors LLC Buys 701 Shares of McDonald’s Corporation $MCD

Concurrent Investment Advisors LLC boosted its stake in McDonald’s Corporation (NYSE:MCD) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,488 shares of the fast-food giant’s stock after acquiring an additional 701 shares during the period. Concurrent Investment Advisors LLC’s holdings in McDonald’s were worth $11,829,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Nova Wealth Management Inc. bought a new stake in McDonald’s in the first quarter worth about $26,000. HFM Investment Advisors LLC bought a new stake in shares of McDonald’s in the first quarter valued at approximately $26,000. Abound Financial LLC bought a new stake in shares of McDonald’s in the first quarter valued at approximately $30,000. GFG Capital LLC bought a new stake in shares of McDonald’s in the second quarter valued at approximately $29,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of McDonald’s in the first quarter valued at approximately $31,000. Institutional investors own 70.29% of the company’s stock.

Insider Activity 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 shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the transaction, the executive vice president owned 8,754 shares of the company’s stock, valued at $2,713,740. The trade was a 22.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the transaction, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This represents a 12.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,402 shares of company stock worth $1,973,407 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Bank of America lowered their price target on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. Piper Sandler boosted their price target on shares of McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Royal Bank Of Canada assumed coverage on shares of McDonald’s in a research report on Wednesday. They issued a “sector perform” rating and a $320.00 price target on the stock. The Goldman Sachs Group raised shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target on the stock in a research report on Thursday, July 10th. Finally, KeyCorp reissued an “overweight” rating and issued a $335.00 price target (up previously from $325.00) on shares of McDonald’s in a research report on Thursday, August 7th. Eleven analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, McDonald’s presently has a consensus rating of “Hold” and an average price target of $325.18.

McDonald’s Trading Up 1.1%

McDonald’s stock opened at $297.07 on Friday. The firm’s 50 day simple moving average is $306.31 and its 200 day simple moving average is $305.74. The firm has a market capitalization of $211.99 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 3.12 and a beta of 0.50. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping 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 business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the prior year, the firm posted $2.97 EPS. McDonald’s’s revenue was up 5.4% on a year-over-year basis. Research analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s 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.