Taylor Financial Group Inc. Raises Holdings in McDonald’s Corporation $MCD

Taylor Financial Group Inc. lifted its stake in McDonald’s Corporation (NYSE:MCD) by 4.1% during the second quarter, Holdings Channel reports. The institutional investor owned 2,564 shares of the fast-food giant’s stock after acquiring an additional 100 shares during the quarter. Taylor Financial Group Inc.’s holdings in McDonald’s were worth $749,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Nova Wealth Management Inc. acquired a new stake in McDonald’s during the first quarter valued at $26,000. HFM Investment Advisors LLC purchased a new stake in shares of McDonald’s during the 1st quarter worth about $26,000. Abound Financial LLC purchased a new stake in shares of McDonald’s during the 1st quarter worth about $30,000. GFG Capital LLC purchased a new stake in shares of McDonald’s during the 2nd quarter worth about $29,000. Finally, Redmont Wealth Advisors LLC acquired a new position in McDonald’s in the 1st quarter worth about $31,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the transaction, the executive vice president directly owned 99 shares of the company’s stock, valued at approximately $30,690. The trade was a 90.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,463 shares of company stock worth $1,692,186 in the last quarter. 0.25% of the stock is owned by company insiders.

McDonald’s Stock Performance

Shares of MCD stock opened at $309.97 on Tuesday. The stock has a market capitalization of $221.19 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50. The company has a 50 day moving average price of $306.52 and a 200 day moving average price of $305.71. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating 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 company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter last year, the company posted $2.97 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, research analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $1.86 dividend. The ex-dividend date is Monday, December 1st. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. McDonald’s’s payout ratio is 60.67%.

Analyst Ratings Changes

A number of research firms recently weighed in on MCD. Truist Financial reduced their price target on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Melius assumed coverage on shares of McDonald’s in a research report on Monday, July 14th. They issued a “sell” rating and a $250.00 target price for the company. Wells Fargo & Company dropped their price objective on shares of McDonald’s from $350.00 to $340.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Evercore ISI upped their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Piper Sandler restated a “neutral” rating and set a $325.00 target price on shares of McDonald’s in a report on Wednesday, October 22nd. Eleven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $323.43.

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.