McDonald's Corporation (NYSE:MCD) Shares Purchased by Solidarity Wealth LLC

Key Points

• Solidarity Wealth LLC increased its stake in McDonald's Corporation by 3.4%, now owning 37,820 shares valued at approximately $11.8 million, making it the firm's 11th largest position.
• Recent analysis shows that 13 analysts rate McDonald's stock with a "hold", while two have a sell rating and fourteen have a buy rating, with a consensus price target of $322.00.
• McDonald's announced a quarterly dividend of $1.77 per share, which will be paid on September 16th, representing a dividend yield of 2.37%.

Solidarity Wealth LLC raised its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,820 shares of the fast-food giant's stock after acquiring an additional 1,239 shares during the quarter. McDonald's makes up about 2.9% of Solidarity Wealth LLC's portfolio, making the stock its 11th biggest position. Solidarity Wealth LLC's holdings in McDonald's were worth $11,814,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of MCD. Mascagni Wealth Management Inc. bought a new stake in shares of McDonald's in the 4th quarter valued at about $25,000. Pinney & Scofield Inc. acquired a new stake in McDonald's in the fourth quarter valued at approximately $29,000. GKV Capital Management Co. Inc. acquired a new stake in McDonald's in the fourth quarter valued at approximately $30,000. Abound Financial LLC acquired a new stake in McDonald's in the first quarter valued at approximately $30,000. Finally, Copia Wealth Management acquired a new stake in McDonald's in the fourth quarter valued at approximately $31,000. Institutional investors own 70.29% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Erste Group Bank cut McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. KeyCorp lowered their price target on McDonald's from $340.00 to $325.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Morgan Stanley lifted their target price on shares of McDonald's from $324.00 to $326.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Truist Financial lifted their price target on McDonald's from $350.00 to $356.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Argus cut McDonald's from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $323.39.

McDonald's Stock Down 0.5%

Shares of McDonald's stock traded down $1.61 during mid-day trading on Thursday, reaching $302.00. 1,407,990 shares of the stock traded hands, compared to its average volume of 3,581,698. The business has a 50-day moving average of $299.96 and a 200 day moving average of $303.25. McDonald's Corporation has a fifty-two week low of $262.40 and a fifty-two week high of $326.32. The stock has a market capitalization of $215.94 billion, a PE ratio of 26.66, a PEG ratio of 3.17 and a beta of 0.53.

McDonald's (NYSE:MCD - Get Free Report) last issued its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting analysts' consensus estimates of $2.67. The business had revenue of $5.96 billion during the quarter, compared to analysts' expectations of $6.17 billion. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The company's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.70 earnings per share. On average, equities research analysts expect that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a $1.77 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.34%. McDonald's's dividend payout ratio is presently 62.49%.

Insider Activity at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider directly owned 9,283 shares of the company's stock, valued at $2,780,165.67. This trade represents a 9.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the sale, the chief marketing officer owned 8,858 shares of the company's stock, valued at approximately $2,657,400. The trade was a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,817 shares of company stock valued at $1,147,992. Insiders own 0.25% of the company's stock.

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.