McDonald's Corporation $MCD Shares Purchased by Biondo Investment Advisors LLC

Key Points

• Biondo Investment Advisors LLC raised its holdings in McDonald's Corporation by 2.7%, owning 41,777 shares valued at approximately $13.05 million as of the end of the last quarter.
• McDonald's announced a quarterly dividend of $1.77 per share, with an ex-dividend date of September 2nd, resulting in an annualized yield of 2.3%.
• Recent insider trading includes EVP Jonathan Banner selling 1,000 shares, resulting in a significant reduction of his holdings by 90.99%.

Biondo Investment Advisors LLC increased its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,777 shares of the fast-food giant's stock after purchasing an additional 1,088 shares during the period. McDonald's makes up 1.8% of Biondo Investment Advisors LLC's portfolio, making the stock its 18th largest holding. Biondo Investment Advisors LLC's holdings in McDonald's were worth $13,050,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Mascagni Wealth Management Inc. purchased a new stake in McDonald's in the 4th quarter valued at about $25,000. Pinney & Scofield Inc. purchased a new stake in McDonald's in the 4th quarter valued at about $29,000. Abound Financial LLC purchased a new stake in McDonald's in the 1st quarter valued at about $30,000. Copia Wealth Management purchased a new stake in McDonald's in the 4th quarter valued at about $31,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in McDonald's in the 1st quarter valued at about $31,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald's Stock Down 0.5%

Shares of NYSE:MCD traded down $1.42 during midday trading on Wednesday, reaching $311.52. The company's stock had a trading volume of 3,234,256 shares, compared to its average volume of 3,585,758. The firm has a market capitalization of $222.30 billion, a PE ratio of 26.69, a P/E/G ratio of 3.19 and a beta of 0.52. McDonald's Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The stock has a fifty day moving average of $299.77 and a 200 day moving average of $306.10.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping analysts' consensus estimates of $3.15 by $0.04. The firm had revenue of $6.84 billion for 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 business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.97 earnings per share. Sell-side analysts anticipate that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's dividend payout ratio (DPR) is presently 60.67%.

Analyst Upgrades and Downgrades

MCD has been the subject of several research reports. Guggenheim reissued a "neutral" rating on shares of McDonald's in a research report on Friday, August 8th. Piper Sandler boosted their price objective on shares of McDonald's from $314.00 to $325.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Truist Financial boosted 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. Morgan Stanley upped their price target on shares of McDonald's from $324.00 to $326.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Finally, Loop Capital cut shares of McDonald's from a "buy" rating to a "hold" rating and lowered their price target for the stock from $346.00 to $315.00 in a research report on Friday, June 6th. Thirteen analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, McDonald's presently has an average rating of "Hold" and an average target price of $326.38.

Insider Activity at McDonald's

In other McDonald's news, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction 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 of the company's stock, valued at $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares in the company, valued at approximately $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,341 shares of company stock valued at $2,229,327. 0.25% of the stock is currently owned by company insiders.

About McDonald's

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.