Midland Wealth Advisors LLC Purchases 105,148 Shares of McDonald’s Co. (NYSE:MCD)

Midland Wealth Advisors LLC lifted its holdings in McDonald’s Co. (NYSE:MCD) by 533.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 124,841 shares of the fast-food giant’s stock after buying an additional 105,148 shares during the period. McDonald’s comprises approximately 1.9% of Midland Wealth Advisors LLC’s holdings, making the stock its 13th largest position. Midland Wealth Advisors LLC’s holdings in McDonald’s were worth $31,814,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in McDonald’s by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock worth $20,473,811,000 after purchasing an additional 599,745 shares during the period. Norges Bank acquired a new stake in shares of McDonald’s in the 4th quarter valued at about $2,684,899,000. Price T Rowe Associates Inc. MD increased its position in McDonald’s by 15.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after buying an additional 987,099 shares in the last quarter. Gallagher Fiduciary Advisors LLC raised its stake in McDonald’s by 141,160.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after buying an additional 5,609,736 shares during the period. Finally, Capital Research Global Investors raised its stake in McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after buying an additional 2,193,769 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Evercore ISI boosted their price objective on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Citigroup reduced their price target on shares of McDonald’s from $280.00 to $275.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. JPMorgan Chase & Co. lowered their price objective on shares of McDonald’s from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Truist Financial reduced their price objective on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Finally, Guggenheim boosted their target price on shares of McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $303.71.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 completion of the transaction, the insider now directly owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The disclosure for this sale can be found here. Insiders sold 4,793 shares of company stock valued at $1,260,106 over the last ninety days. 0.23% of the stock is currently owned by insiders.

McDonald’s Stock Down 0.5 %

MCD traded down $1.48 during trading on Tuesday, hitting $287.18. 663,077 shares of the company traded hands, compared to its average volume of 3,502,318. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39. The stock’s fifty day moving average is $266.19 and its 200 day moving average is $270.74. The firm has a market cap of $206.01 billion, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 3.86 and a beta of 0.71.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the previous year, the firm earned $3.17 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. On average, equities research analysts forecast that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

McDonald’s Profile

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.