ForthRight Wealth Management LLC Buys Shares of 777 McDonald’s Co. (NYSE:MCD)

ForthRight Wealth Management LLC bought a new stake in McDonald’s Co. (NYSE:MCD) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 777 shares of the fast-food giant’s stock, valued at approximately $243,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its position in shares of McDonald’s by 21.6% in the fourth quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock valued at $2,692,000 after purchasing an additional 1,649 shares during the period. Union Bancaire Privee UBP SA bought a new stake in shares of McDonald’s in the fourth quarter valued at approximately $64,805,000. Revolve Wealth Partners LLC increased its holdings in McDonald’s by 2.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock worth $563,000 after acquiring an additional 52 shares during the period. Sovran Advisors LLC bought a new stake in McDonald’s during the 4th quarter worth approximately $520,000. Finally, Quent Capital LLC increased its holdings in McDonald’s by 8.2% during the 4th quarter. Quent Capital LLC now owns 3,321 shares of the fast-food giant’s stock worth $963,000 after acquiring an additional 253 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Up 0.5%

Shares of MCD opened at $301.93 on Thursday. The stock has a market capitalization of $215.89 billion, a P/E ratio of 26.51, a PEG ratio of 3.10 and a beta of 0.56. The firm has a fifty day simple moving average of $311.84 and a two-hundred day simple moving average of $302.83. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $326.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting the consensus estimate of $2.67. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.17 billion. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.70 EPS. Sell-side analysts expect that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.34%. McDonald’s’s payout ratio is currently 62.49%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $315.07, for a total value of $295,850.73. Following the completion of the transaction, the insider now directly owns 11,161 shares in the company, valued at approximately $3,516,496.27. This represents a 7.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Loop Capital lowered shares of McDonald’s from a “buy” rating to a “hold” rating and decreased their target price for the stock from $346.00 to $315.00 in a report on Friday, June 6th. BMO Capital Markets reaffirmed an “outperform” rating and set a $345.00 target price (up previously from $340.00) on shares of McDonald’s in a report on Monday, May 5th. Northcoast Research lowered shares of McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. Truist Financial set a $350.00 target price on shares of McDonald’s in a report on Friday, May 2nd. Finally, BTIG Research reaffirmed a “neutral” rating on shares of McDonald’s in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $321.79.

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.