Farther Finance Advisors LLC Purchases 5,377 Shares of McDonald's Corporation $MCD

Key Points

• Farther Finance Advisors LLC increased its stake in McDonald's by 31.7% during the second quarter, now holding a total of 22,353 shares valued at approximately $6.53 million.
• Analysts have set new price targets for McDonald's, with Evercore ISI raising it to $360.00 and Goldman Sachs upgrading the rating to buy with a target of $345.00.
• McDonald's recently reported a quarterly earnings per share of $3.19, surpassing estimates, and announced a $1.77 quarterly dividend, yielding 2.3% annually.

Farther Finance Advisors LLC increased its position in McDonald's Corporation (NYSE:MCD - Free Report) by 31.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,353 shares of the fast-food giant's stock after acquiring an additional 5,377 shares during the period. Farther Finance Advisors LLC's holdings in McDonald's were worth $6,531,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Butensky & Cohen Financial Security Inc. grew its position in McDonald's by 3.2% in the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 17,564 shares of the fast-food giant's stock valued at $5,132,000 after buying an additional 539 shares in the last quarter. Marshall & Sullivan Inc. WA bought a new position in McDonald's in the 2nd quarter valued at about $90,000. My Legacy Advisors LLC grew its position in McDonald's by 3.5% in the 2nd quarter. My Legacy Advisors LLC now owns 4,968 shares of the fast-food giant's stock valued at $1,482,000 after buying an additional 166 shares in the last quarter. AA Financial Advisors LLC grew its position in McDonald's by 26.8% in the 2nd quarter. AA Financial Advisors LLC now owns 3,682 shares of the fast-food giant's stock valued at $1,076,000 after buying an additional 779 shares in the last quarter. Finally, Phillips Wealth Planners LLC grew its position in McDonald's by 2.9% in the 2nd quarter. Phillips Wealth Planners LLC now owns 3,970 shares of the fast-food giant's stock valued at $1,158,000 after buying an additional 111 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MCD. Redburn Atlantic reiterated a "sell" rating and issued a $260.00 target price (down previously from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. TD Securities restated a "hold" rating and set a $305.00 price objective on shares of McDonald's in a research report on Thursday, June 5th. Guggenheim restated a "neutral" rating on shares of McDonald's in a research report on Friday, August 8th. BMO Capital Markets raised 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 Thursday, September 4th. Finally, Truist Financial raised 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. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $325.86.

McDonald's Stock Performance

Shares of NYSE MCD traded up $1.09 during mid-day trading on Monday, reaching $303.47. The company had a trading volume of 3,637,178 shares, compared to its average volume of 3,553,417. The stock has a fifty day moving average of $306.06 and a two-hundred day moving average of $306.41. The company has a market capitalization of $216.56 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 3.08 and a beta of 0.50. McDonald's Corporation has a 12-month low of $276.53 and a 12-month high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.15 by $0.04. The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The firm's revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.97 earnings per share. Sell-side analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald's's dividend payout ratio is 60.67%.

Insider Activity at McDonald's

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction that occurred on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan Banner sold 1,000 shares of the firm'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 transaction of $310,000.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 7,402 shares of company stock valued at $2,273,407 over the last ninety days. 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.