Abich Financial Wealth Management LLC Buys New Shares in McDonald’s Corporation $MCD

Abich Financial Wealth Management LLC purchased a new position in McDonald’s Corporation (NYSE:MCDFree Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,585 shares of the fast-food giant’s stock, valued at approximately $1,697,000. McDonald’s comprises 0.6% of Abich Financial Wealth Management LLC’s holdings, making the stock its 15th biggest holding.

Several other institutional investors also recently modified their holdings of MCD. Decker Retirement Planning Inc. boosted its position in shares of McDonald’s by 142.9% in the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of McDonald’s in the second quarter worth about $25,000. Evergreen Private Wealth LLC increased its position in shares of McDonald’s by 162.5% in the third quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock worth $26,000 after acquiring an additional 52 shares in the last quarter. Financial Gravity Companies Inc. acquired a new stake in shares of McDonald’s during the second quarter valued at approximately $29,000. Finally, Traub Capital Management LLC purchased a new stake in shares of McDonald’s in the 2nd quarter valued at approximately $29,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

McDonald’s stock opened at $331.78 on Friday. McDonald’s Corporation has a fifty-two week low of $283.47 and a fifty-two week high of $333.38. The firm has a fifty day moving average price of $312.69 and a two-hundred day moving average price of $308.07. The firm has a market cap of $236.28 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 3.26 and a beta of 0.52.

McDonald’s (NYSE:MCDGet Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The fast-food giant reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.05 by $0.07. McDonald’s had a negative return on equity of 313.07% and a net margin of 31.85%.The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period last year, the business posted $2.83 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $7.44 dividend on an annualized basis and a yield of 2.2%. McDonald’s’s payout ratio is 63.48%.

Key McDonald’s News

Here are the key news stories impacting McDonald’s this week:

Analyst Ratings Changes

Several research firms recently weighed in on MCD. TD Cowen reissued a “hold” rating and set a $320.00 price target on shares of McDonald’s in a research report on Thursday. BMO Capital Markets reaffirmed an “outperform” rating on shares of McDonald’s in a research report on Thursday, November 6th. Truist Financial upped their price objective on shares of McDonald’s from $356.00 to $370.00 and gave the company a “buy” rating in a research note on Thursday. Guggenheim lifted their target price on shares of McDonald’s from $310.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. Finally, Piper Sandler boosted their price target on shares of McDonald’s from $323.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday. Fourteen analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, McDonald’s currently has a consensus rating of “Hold” and a consensus target price of $335.63.

Get Our Latest Report on McDonald’s

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 2,626 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $325.25, for a total value of $854,106.50. Following the completion of the sale, the insider owned 5,398 shares in the company, valued at approximately $1,755,699.50. This trade represents a 32.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ian Frederick Borden sold 17,134 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $310.00, for a total value of $5,311,540.00. Following the transaction, the chief financial officer owned 26,353 shares in the company, valued at $8,169,430. This represents a 39.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 31,439 shares of company stock valued at $9,772,464 in the last 90 days. 0.25% of the stock is owned by company insiders.

McDonald’s Company Profile

(Free Report)

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.

See Also

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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