Brighton Jones LLC Purchases 350 Shares of McDonald’s Corporation $MCD

Brighton Jones LLC raised its position in McDonald’s Corporation (NYSE:MCD) by 3.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,128 shares of the fast-food giant’s stock after acquiring an additional 350 shares during the period. Brighton Jones LLC’s holdings in McDonald’s were worth $3,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. First American Trust FSB raised its stake in shares of McDonald’s by 55.9% in the first quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock valued at $11,532,000 after buying an additional 13,234 shares during the period. Banque Transatlantique SA grew its position in shares of McDonald’s by 58.0% in the first quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock valued at $71,829,000 after purchasing an additional 91,313 shares in the last quarter. Hamilton Capital LLC grew its holdings in McDonald’s by 35.2% during the 1st quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock valued at $982,000 after buying an additional 819 shares in the last quarter. Welch Group LLC grew its holdings in McDonald’s by 1.1% during the 2nd quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock valued at $60,188,000 after buying an additional 2,180 shares in the last quarter. Finally, Red Door Wealth Management LLC grew its holdings in McDonald’s by 1.9% during the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant’s stock valued at $1,788,000 after buying an additional 109 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. KeyCorp reaffirmed an “overweight” rating and set a $335.00 target price on shares of McDonald’s in a report on Monday, October 20th. Guggenheim reduced their target price on McDonald’s from $310.00 to $295.00 and set a “neutral” rating for the company in a report on Friday, October 10th. The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 target price for the company in a research report on Thursday, July 10th. Piper Sandler restated a “neutral” rating and set a $325.00 target price on shares of McDonald’s in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Eleven equities research 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 stock has an average rating of “Hold” and a consensus target price of $324.50.

Insider Transactions at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their position. 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 company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the transaction, the executive vice president owned 99 shares of the company’s stock, valued at $30,690. The trade was a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,463 shares of company stock worth $1,692,186. 0.25% of the stock is currently owned by corporate insiders.

McDonald’s Trading Down 0.3%

MCD opened at $306.05 on Monday. The stock has a 50-day moving average price of $306.49 and a 200-day moving average price of $305.67. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The stock has a market capitalization of $218.39 billion, a P/E ratio of 26.23, a PEG ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data 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. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the prior year, the business earned $2.97 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, December 1st. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

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.