Forum Financial Management LP Has $2.93 Million Stock Holdings in McDonald’s Corporation $MCD

Forum Financial Management LP lifted its stake in shares of McDonald’s Corporation (NYSE:MCD) by 4.7% during the second quarter, Holdings Channel reports. The firm owned 10,022 shares of the fast-food giant’s stock after purchasing an additional 447 shares during the quarter. Forum Financial Management LP’s holdings in McDonald’s were worth $2,928,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Nova Wealth Management Inc. acquired a new position in McDonald’s during the first quarter valued at $26,000. HFM Investment Advisors LLC acquired a new position in McDonald’s during the first quarter valued at $26,000. Abound Financial LLC acquired a new position in McDonald’s during the first quarter valued at $30,000. GFG Capital LLC bought a new stake in shares of McDonald’s during the 2nd quarter worth about $29,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of McDonald’s during the 1st quarter worth about $31,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on MCD. Guggenheim decreased their price target on McDonald’s from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Friday, October 10th. Wells Fargo & Company decreased their price target on McDonald’s from $350.00 to $340.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Bank of America decreased their price target on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. JPMorgan Chase & Co. raised their target price on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $325.00 price target on shares of McDonald’s in a research report on Wednesday. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $324.50.

McDonald’s Price Performance

Shares of MCD stock opened at $310.01 on Thursday. The stock’s fifty day simple moving average is $306.58 and its 200 day simple moving average is $305.51. The firm has a market cap of $221.22 billion, a price-to-earnings ratio of 26.56, a P/E/G ratio of 3.25 and a beta of 0.50. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating the consensus estimate of $3.15 by $0.04. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.McDonald’s’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.97 EPS. On average, research analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

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

Insider Activity

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