Smith Chas P & Associates PA Cpas Buys 1,589 Shares of McDonald's Corporation $MCD

Key Points

• Smith Chas P & Associates PA Cpas increased its stake in McDonald's Corporation by 0.9% during the second quarter, now owning 176,983 shares valued at $51.7 million.
• McDonald's recently declared a quarterly dividend of $1.77 per share, with an annualized yield of 2.3% and a payout ratio of 60.67%.
• Analysts have set various price targets for McDonald's shares, with a consensus rating of "Hold" and an average price target of $325.86.

Smith Chas P & Associates PA Cpas increased its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,983 shares of the fast-food giant's stock after buying an additional 1,589 shares during the quarter. McDonald's comprises approximately 2.9% of Smith Chas P & Associates PA Cpas' holdings, making the stock its 9th largest position. Smith Chas P & Associates PA Cpas' holdings in McDonald's were worth $51,709,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. HFM Investment Advisors LLC acquired a new stake in shares of McDonald's in the first quarter valued at approximately $26,000. Nova Wealth Management Inc. acquired a new stake in McDonald's in the 1st quarter valued at approximately $26,000. Abound Financial LLC bought a new stake in McDonald's during the 1st quarter valued at $30,000. Redmont Wealth Advisors LLC bought a new position in shares of McDonald's in the first quarter worth $31,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in McDonald's during the 1st quarter valued at about $31,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McDonald's

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer owned 8,858 shares of the company's stock, valued at $2,657,400. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jonathan Banner sold 1,000 shares of the 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 completion of the transaction, the executive vice president owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,402 shares of company stock worth $2,273,407. Insiders own 0.25% of the company's stock.

McDonald's Price Performance

Shares of McDonald's stock opened at $305.10 on Monday. The firm has a market cap of $217.72 billion, a price-to-earnings ratio of 26.14, a P/E/G ratio of 3.11 and a beta of 0.49. The stock has a 50-day simple moving average of $306.48 and a 200-day simple moving average of $306.25. McDonald's Corporation has a 52-week low of $276.53 and a 52-week high of $326.32.

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

McDonald's Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. McDonald's's payout ratio is currently 60.67%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MCD. Barclays upped their price target on shares of McDonald's from $355.00 to $360.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Truist Financial increased their price target on McDonald's from $356.00 to $360.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. KeyCorp reiterated an "overweight" rating and issued a $335.00 price target (up from $325.00) on shares of McDonald's in a research report on Thursday, August 7th. Bank of America lowered their price objective 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. Finally, Melius began coverage on shares of McDonald's in a research report on Monday, July 14th. They issued a "sell" rating and a $250.00 price target on the stock. Eleven investment 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. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $325.86.

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.

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