Apollon Wealth Management LLC Grows Stock Holdings in McDonald's Corporation $MCD

Key Points

• Apollon Wealth Management LLC increased its holdings in McDonald's by 2.7%, owning a total of 54,647 shares worth approximately $15.97 million after acquiring additional shares in the second quarter.
• Analysts have adjusted their price targets for McDonald's, with BMO Capital Markets and Evercore ISI raising their target to $360, indicating an overall favorable outlook for the stock despite a mix of ratings from different firms.
• McDonald's recently announced a quarterly dividend of $1.77 per share, which contributes to an annualized dividend yield of 2.4% and reflects a payout ratio of 60.67%.

Apollon Wealth Management LLC raised its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,647 shares of the fast-food giant's stock after buying an additional 1,448 shares during the period. Apollon Wealth Management LLC's holdings in McDonald's were worth $15,966,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

A number of analysts have issued reports on MCD shares. BMO Capital Markets lifted their price target on McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Melius started coverage on McDonald's in a report on Monday, July 14th. They set a "sell" rating and a $250.00 price target for the company. Evercore ISI lifted their price target on McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Piper Sandler lifted their price target on McDonald's from $314.00 to $325.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of McDonald's in a report on Wednesday. Eleven analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $325.18.

McDonald's Stock Performance

MCD opened at $297.07 on Friday. The business's 50-day simple moving average is $306.31 and its 200-day simple moving average is $305.79. McDonald's Corporation has a one year low of $276.53 and a one year high of $326.32. The stock has a market capitalization of $211.99 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 3.09 and a beta of 0.50.

McDonald's (NYSE:MCD - Get Free Report) last posted its earnings results 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. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.The business had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $6.68 billion. During the same quarter in the previous year, the firm earned $2.97 earnings per share. The business's revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts forecast that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a dividend of $1.77 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.4%. McDonald's's payout ratio is 60.67%.

Insider Transactions at McDonald's

In other McDonald's news, EVP Desiree Ralls-Morrison sold 2,487 shares of the company'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 transaction of $770,970.00. Following the completion of the sale, the executive vice president directly owned 8,754 shares of the company's stock, valued at $2,713,740. This represents a 22.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, the insider owned 9,283 shares in the company, valued at $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,402 shares of company stock worth $1,973,407 over the last three months. 0.25% of the stock is currently 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.

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