Waterfront Wealth Inc. Sells 95 Shares of McDonald’s Corporation $MCD

Waterfront Wealth Inc. decreased its position in McDonald’s Corporation (NYSE:MCD) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,482 shares of the fast-food giant’s stock after selling 95 shares during the period. Waterfront Wealth Inc.’s holdings in McDonald’s were worth $1,602,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MCD. Citigroup dropped their price objective on McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, October 21st. Evercore ISI upped their price objective on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Melius started coverage on McDonald’s in a report on Monday, July 14th. They issued a “sell” rating and a $250.00 price objective on the stock. Bank of America reduced their target price on McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Finally, Royal Bank Of Canada initiated coverage on McDonald’s in a report on Wednesday, October 8th. They set a “sector perform” rating and a $320.00 target price on the stock. Eleven research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, McDonald’s presently has a consensus rating of “Hold” and a consensus price target of $323.43.

Insiders Place Their Bets

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction that occurred on Wednesday, August 6th. The stock was 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 owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 5,463 shares of company stock worth $1,692,186. 0.25% of the stock is owned by corporate insiders.

McDonald’s Trading Down 1.0%

Shares of MCD stock opened at $306.79 on Wednesday. The business’s 50-day moving average price is $306.44 and its 200-day moving average price is $305.71. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The firm has a market capitalization of $218.93 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 3.31 and a beta of 0.50.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.97 earnings per share. On average, sell-side analysts predict that McDonald’s Corporation will post 12.25 earnings per share 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. Investors of record on Monday, December 1st will be paid a $1.86 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, December 1st. McDonald’s’s payout ratio is presently 60.67%.

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.