Modera Wealth Management LLC Grows Stake in McDonald’s Corporation $MCD

Modera Wealth Management LLC raised its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 6.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,558 shares of the fast-food giant’s stock after purchasing an additional 1,945 shares during the period. Modera Wealth Management LLC’s holdings in McDonald’s were worth $9,220,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MCD. Nova Wealth Management Inc. acquired a new stake in McDonald’s in the first quarter worth about $26,000. HFM Investment Advisors LLC acquired a new position in shares of McDonald’s during the first quarter valued at about $26,000. GFG Capital LLC purchased a new position in shares of McDonald’s in the 2nd quarter valued at approximately $29,000. Financial Gravity Asset Management Inc. acquired a new stake in McDonald’s in the 1st quarter worth approximately $31,000. Finally, 1248 Management LLC purchased a new stake in McDonald’s during the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Up 0.4%

McDonald’s stock opened at $299.71 on Friday. The business’s 50-day moving average price is $304.39 and its 200 day moving average price is $305.13. The firm has a market cap of $213.88 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.11). The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.10 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.23 EPS. Equities analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.5%. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Monday, December 1st. McDonald’s’s payout ratio is currently 63.48%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of McDonald’s from $340.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday. Weiss Ratings restated a “buy (b-)” rating on shares of McDonald’s in a research note on Friday, October 31st. Guggenheim dropped their price target on McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a research note on Friday, October 10th. Morgan Stanley set a $335.00 target price on McDonald’s in a report on Friday, October 17th. Finally, Barclays cut their price target on shares of McDonald’s from $362.00 to $358.00 and set an “overweight” rating on the stock in a report on Thursday. Eleven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $323.91.

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 shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the transaction, the chief marketing officer owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 15,134 shares of company stock worth $4,570,716. 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.