Concord Asset Management LLC VA Acquires 1,111 Shares of McDonald's Corporation $MCD

Key Points

• Concord Asset Management LLC VA increased its stake in McDonald's Corporation by 17.9% during the second quarter, acquiring an additional 1,111 shares for a total of 7,310 shares valued at approximately $2.14 million.
• McDonald's reported earnings of $3.19 per share in its last quarterly earnings, which exceeded analysts' expectations of $3.15, along with a 5.4% increase in revenue year-over-year.
• The company has declared a quarterly dividend of $1.77 per share, yielding 2.4% annually, with a dividend payout ratio of 60.67%.

Concord Asset Management LLC VA increased its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 17.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,310 shares of the fast-food giant's stock after acquiring an additional 1,111 shares during the quarter. Concord Asset Management LLC VA's holdings in McDonald's were worth $2,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

McDonald's Stock Performance

Shares of MCD opened at $297.07 on Monday. The company's fifty day moving average is $306.31 and its 200 day moving average is $305.69. McDonald's Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The stock has a market capitalization of $211.99 billion, a PE ratio of 25.46, a P/E/G ratio of 3.12 and a beta of 0.50.

McDonald's (NYSE:MCD - Get Free Report) 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 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 business posted $2.97 earnings per share. The business's revenue was up 5.4% compared to the same quarter last year. As a group, research analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid 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 dividend payout ratio (DPR) is presently 60.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MCD shares. Bank of America decreased their target price on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Royal Bank Of Canada began coverage on shares of McDonald's in a research note on Wednesday. They set a "sector perform" rating and a $320.00 target price on the stock. Evercore ISI lifted their price objective on shares of McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Truist Financial lifted their price objective on shares of McDonald's from $356.00 to $360.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of McDonald's from $305.00 to $310.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $325.18.

Insiders Place Their Bets

In other McDonald's news, EVP Desiree Ralls-Morrison sold 2,487 shares of the business'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 transaction, the executive vice president owned 8,754 shares in the company, valued at $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan Banner sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the transaction, the executive vice president owned 99 shares of the company's stock, valued at $30,690. This trade represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,402 shares of company stock worth $1,973,407 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

McDonald's Company 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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