Icon Wealth Advisors LLC Grows Holdings in McDonald’s Co. (NYSE:MCD)

Icon Wealth Advisors LLC grew its stake in McDonald’s Co. (NYSE:MCD) by 10.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 14,329 shares of the fast-food giant’s stock after acquiring an additional 1,343 shares during the period. Icon Wealth Advisors LLC’s holdings in McDonald’s were worth $4,040,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of McDonald’s in the 1st quarter valued at approximately $28,000. Signature Resources Capital Management LLC acquired a new position in McDonald’s during the 4th quarter worth approximately $31,000. Clear Investment Research LLC acquired a new position in McDonald’s during the 4th quarter worth approximately $38,000. Keener Financial Planning LLC acquired a new position in McDonald’s during the 4th quarter worth approximately $39,000. Finally, Atlantic Edge Private Wealth Management LLC purchased a new position in shares of McDonald’s in the 4th quarter valued at $39,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

NYSE:MCD traded up $5.10 during mid-day trading on Tuesday, hitting $266.52. 4,924,469 shares of the company’s stock traded hands, compared to its average volume of 3,527,371. The firm’s 50 day simple moving average is $255.33 and its 200 day simple moving average is $273.10. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $302.39. The company has a market cap of $192.08 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 2.92 and a beta of 0.71.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter last year, the business posted $3.17 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. On average, research analysts expect that McDonald’s Co. will post 12.05 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.51%. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Insider Transactions at McDonald’s

In other news, EVP Jonathan Banner sold 800 shares of McDonald’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $275.02, for a total transaction of $220,016.00. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at $5,225.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the sale, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan Banner sold 800 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at $5,225.38. The disclosure for this sale can be found here. Insiders sold a total of 5,594 shares of company stock worth $1,454,507 over the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Stifel Nicolaus dropped their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. TD Cowen reiterated a “buy” rating and set a $285.00 price target on shares of McDonald’s in a research note on Monday. Jefferies Financial Group decreased their price target on shares of McDonald’s from $320.00 to $310.00 and set a “buy” rating for the company in a research note on Monday. Bank of America decreased their price target on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Truist Financial decreased their price target on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $302.82.

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.