TriaGen Wealth Management LLC Has $4.27 Million Stake in McDonald’s Corporation $MCD

TriaGen Wealth Management LLC increased its stake in McDonald’s Corporation (NYSE:MCD) by 1.1% in the second quarter, Holdings Channel.com reports. The firm owned 14,597 shares of the fast-food giant’s stock after purchasing an additional 153 shares during the quarter. McDonald’s makes up approximately 1.3% of TriaGen Wealth Management LLC’s investment portfolio, making the stock its 16th largest position. TriaGen Wealth Management LLC’s holdings in McDonald’s were worth $4,265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCD. Brighton Jones LLC boosted its holdings in McDonald’s by 21.6% during the fourth quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock worth $2,692,000 after purchasing an additional 1,649 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in McDonald’s by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock valued at $563,000 after buying an additional 52 shares during the last quarter. Quotient Wealth Partners LLC lifted its position in McDonald’s by 10.9% during the 1st quarter. Quotient Wealth Partners LLC now owns 2,616 shares of the fast-food giant’s stock worth $817,000 after buying an additional 258 shares in the last quarter. Sherman Asset Management Inc. boosted its stake in shares of McDonald’s by 4.4% during the 1st quarter. Sherman Asset Management Inc. now owns 2,010 shares of the fast-food giant’s stock worth $628,000 after buying an additional 85 shares during the last quarter. Finally, First Citizens Bank & Trust Co. grew its holdings in shares of McDonald’s by 0.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 14,055 shares of the fast-food giant’s stock valued at $4,390,000 after acquiring an additional 63 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the topic of several analyst reports. 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. BMO Capital Markets upped their price objective on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Barclays increased their price objective on McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Truist Financial boosted their target price on shares of McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $335.00 price target (up from $325.00) on shares of McDonald’s in a research report on Thursday, August 7th. Twelve analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $325.86.

McDonald’s Trading Down 1.6%

MCD stock opened at $296.09 on Tuesday. The firm has a market capitalization of $211.29 billion, a PE ratio of 25.37, a PEG ratio of 3.07 and a beta of 0.50. The business’s 50 day simple moving average is $306.87 and its 200 day simple moving average is $306.09. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32.

McDonald’s (NYSE:MCD) last announced 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 negative return on equity of 225.52% and a net margin of 32.21%.The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter last year, the company earned $2.97 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

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

Insider Activity

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the sale, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’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 transaction of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,402 shares of company stock worth $2,273,407. 0.25% of the stock is 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.