GoalVest Advisory LLC Increases Stock Holdings in McDonald’s Corporation $MCD

GoalVest Advisory LLC boosted its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 5.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,377 shares of the fast-food giant’s stock after purchasing an additional 336 shares during the quarter. GoalVest Advisory LLC’s holdings in McDonald’s were worth $1,863,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MCD. Nuveen LLC purchased a new stake in McDonald’s during the 1st quarter worth approximately $1,324,961,000. Price T Rowe Associates Inc. MD increased its holdings in McDonald’s by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after purchasing an additional 1,344,954 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in McDonald’s by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after purchasing an additional 815,768 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in McDonald’s by 732.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock worth $203,211,000 after purchasing an additional 572,408 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in McDonald’s by 204.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock worth $177,390,000 after purchasing an additional 407,982 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Price Performance

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

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the previous year, the firm posted $2.97 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $1.86 per share. The ex-dividend date is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s payout ratio is presently 60.67%.

Analyst Ratings Changes

Several brokerages have recently commented on MCD. KeyCorp reiterated an “overweight” rating and issued a $335.00 target price on shares of McDonald’s in a research report on Monday, October 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of McDonald’s in a research report on Wednesday, October 8th. Piper Sandler reiterated a “neutral” rating and issued a $325.00 target price on shares of McDonald’s in a research report on Wednesday. Evercore ISI lifted their target price on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, Guggenheim decreased their target price on McDonald’s from $310.00 to $295.00 and set a “neutral” rating for the company in a research report on Friday, October 10th. Eleven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $324.50.

Insider Activity at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the sale, the chief marketing officer owned 6,858 shares of the company’s stock, valued at $2,160,270. The trade was a 12.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. The trade was a 22.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,463 shares of company stock worth $1,692,186 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

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.