McDonald's Corporation $MCD Shares Bought by Canvas Wealth Advisors LLC

Key Points

• Canvas Wealth Advisors LLC increased its holdings in McDonald's shares by 37.1% in the 2nd quarter, owning a total of 3,531 shares valued at approximately $1,056,000.
• McDonald's recently reported quarterly earnings of $3.19 EPS, exceeding consensus estimates by $0.04, with revenues of $6.84 billion compared to expectations of $6.68 billion.
• The firm announced a quarterly dividend of $1.77 per share, representing an annualized dividend of $7.08 and a yield of 2.3%, with a payout ratio of 60.67%.

Canvas Wealth Advisors LLC lifted its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 37.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,531 shares of the fast-food giant's stock after buying an additional 956 shares during the period. Canvas Wealth Advisors LLC's holdings in McDonald's were worth $1,056,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MCD. WealthPlan Investment Management LLC raised its stake in shares of McDonald's by 0.9% during the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant's stock worth $1,134,000 after purchasing an additional 32 shares during the last quarter. Security Financial Services INC. grew its position in McDonald's by 0.7% in the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock valued at $1,575,000 after buying an additional 33 shares during the last quarter. Ascent Wealth Partners LLC increased its stake in McDonald's by 0.3% in the 1st quarter. Ascent Wealth Partners LLC now owns 11,588 shares of the fast-food giant's stock valued at $3,620,000 after buying an additional 34 shares during the period. Platform Technology Partners raised its position in McDonald's by 0.4% during the 1st quarter. Platform Technology Partners now owns 8,617 shares of the fast-food giant's stock worth $2,692,000 after buying an additional 35 shares during the last quarter. Finally, Alexander Labrunerie & CO. Inc. lifted its stake in shares of McDonald's by 3.4% in the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 1,070 shares of the fast-food giant's stock worth $334,000 after acquiring an additional 35 shares during the period. Hedge funds and other institutional investors own 70.29% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MCD shares. Piper Sandler boosted their price target on shares of McDonald's from $314.00 to $325.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Bank of America dropped their target price on McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Melius initiated coverage on McDonald's in a research note on Monday, July 14th. They set a "sell" rating and a $250.00 target price for the company. Citigroup raised their price target on McDonald's from $373.00 to $381.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. Finally, Evercore ISI upped their price objective on McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Eleven research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $324.68.

McDonald's Price Performance

MCD opened at $308.02 on Monday. McDonald's Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The stock has a market cap of $219.80 billion, a P/E ratio of 26.39, a P/E/G ratio of 3.25 and a beta of 0.50. The stock's 50 day simple moving average is $306.29 and its 200 day simple moving average is $305.41.

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

McDonald's Dividend Announcement

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

Insider Buying and Selling at McDonald's

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the firm's 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 completion of the transaction, the chief marketing officer directly owned 6,858 shares in the company, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the company's stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 6,402 shares of company stock valued at $1,973,407 in the last quarter. Insiders own 0.25% of the company's stock.

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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