Angeles Wealth Management LLC Has $766,000 Stake in McDonald’s Co. (NYSE:MCD)

Angeles Wealth Management LLC grew its stake in McDonald’s Co. (NYSE:MCD) by 5.6% during the second quarter, HoldingsChannel reports. The firm owned 3,005 shares of the fast-food giant’s stock after buying an additional 159 shares during the quarter. Angeles Wealth Management LLC’s holdings in McDonald’s were worth $766,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s during the first quarter worth $28,000. Clear Investment Research LLC bought a new stake in McDonald’s during the 4th quarter worth $38,000. Atlantic Edge Private Wealth Management LLC acquired a new position in McDonald’s in the 4th quarter worth about $39,000. Kings Path Partners LLC bought a new position in McDonald’s in the second quarter valued at about $38,000. Finally, Accent Capital Management LLC acquired a new stake in shares of McDonald’s during the fourth quarter valued at about $44,000. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the transaction, the insider now owns 13,681 shares in the company, valued at approximately $3,557,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The disclosure for this sale can be found here. Insiders have sold a total of 6,291 shares of company stock worth $1,689,073 in the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

MCD has been the subject of several recent research reports. Bank of America lowered their price objective on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Morgan Stanley decreased their price target on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. JPMorgan Chase & Co. cut their price target on shares of McDonald’s from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Wedbush restated an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a report on Monday, July 29th. Finally, Truist Financial cut their target price on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and an average price target of $304.41.

McDonald’s Trading Down 0.0 %

Shares of NYSE MCD opened at $291.27 on Wednesday. The firm has a market capitalization of $209.91 billion, a P/E ratio of 24.73, a P/E/G ratio of 3.87 and a beta of 0.72. The firm’s 50-day moving average price is $270.34 and its 200-day moving average price is $270.52. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $302.39.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.17 earnings per share. Equities research analysts forecast that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

McDonald’s Profile

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.