Access Investment Management LLC Buys New Stake in McDonald’s Corporation $MCD

Access Investment Management LLC bought a new stake in shares of McDonald’s Corporation (NYSE:MCD) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 700 shares of the fast-food giant’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nova Wealth Management Inc. purchased a new stake in McDonald’s in the 1st quarter worth approximately $26,000. HFM Investment Advisors LLC acquired a new stake in shares of McDonald’s during the first quarter worth $26,000. Abound Financial LLC purchased a new stake in shares of McDonald’s in the first quarter valued at $30,000. GFG Capital LLC acquired a new position in McDonald’s in the second quarter valued at $29,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in McDonald’s during the first quarter worth about $31,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction dated 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 directly owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. The trade was a 22.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the 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 sale, the executive vice president owned 99 shares in the company, valued at approximately $30,690. This trade represents a 90.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 4,487 shares of company stock valued at $1,395,970. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a research note on Friday. Evercore ISI upped their price target 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. KeyCorp reiterated an “overweight” rating and issued a $335.00 price target on shares of McDonald’s in a report on Monday, October 20th. Piper Sandler restated a “neutral” rating and set a $325.00 price objective on shares of McDonald’s in a report on Wednesday, October 22nd. Finally, Bank of America lowered their price target 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. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $323.43.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $298.44 on Monday. The company has a market cap of $212.97 billion, a P/E ratio of 25.57, a PEG ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32. The business’s 50-day simple moving average is $305.70 and its 200 day simple moving average is $305.44.

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

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, December 1st. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s payout ratio is 63.75%.

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.