Modera Wealth Management LLC Purchases 5,717 Shares of McDonald’s Co. (NYSE:MCD)

Modera Wealth Management LLC grew its holdings in McDonald’s Co. (NYSE:MCD) by 27.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,268 shares of the fast-food giant’s stock after acquiring an additional 5,717 shares during the quarter. Modera Wealth Management LLC’s holdings in McDonald’s were worth $7,999,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vicus Capital bought a new position in McDonald’s in the first quarter valued at approximately $336,000. Founders Financial Securities LLC boosted its position in shares of McDonald’s by 32.6% during the first quarter. Founders Financial Securities LLC now owns 4,555 shares of the fast-food giant’s stock worth $1,284,000 after buying an additional 1,119 shares during the period. Trilogy Capital Inc. grew its holdings in shares of McDonald’s by 133.8% during the first quarter. Trilogy Capital Inc. now owns 1,665 shares of the fast-food giant’s stock worth $469,000 after buying an additional 953 shares in the last quarter. Breakwater Capital Group raised its position in McDonald’s by 27.5% in the 1st quarter. Breakwater Capital Group now owns 1,213 shares of the fast-food giant’s stock valued at $342,000 after buying an additional 262 shares during the last quarter. Finally, SteelPeak Wealth LLC lifted its stake in McDonald’s by 40.2% in the 1st quarter. SteelPeak Wealth LLC now owns 8,158 shares of the fast-food giant’s stock valued at $2,300,000 after acquiring an additional 2,341 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $292.61 on Friday. The stock has a market capitalization of $210.88 billion, a P/E ratio of 24.84, a PEG ratio of 4.13 and a beta of 0.73. The stock’s fifty day moving average is $297.78 and its 200 day moving average is $274.91. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the prior year, the business earned $3.17 earnings per share. McDonald’s’s quarterly revenue was down .1% compared to the same quarter last year. Equities research analysts forecast that McDonald’s Co. will post 11.73 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is currently 60.10%.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the transaction, the insider now owns 10,385 shares in the company, valued at approximately $3,036,366.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the sale, the insider now directly owns 10,385 shares in the company, valued at approximately $3,036,366.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock worth $10,256,818 over the last three months. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MCD shares. KeyCorp raised their price target on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. lifted their price target on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. BMO Capital Markets cut their price target on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Truist Financial raised their price objective on McDonald’s from $295.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, The Goldman Sachs Group increased their price target on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Thirteen investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $318.22.

About McDonald’s

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.