ForthRight Wealth Management LLC Makes New $243,000 Investment in McDonald’s Co. (NYSE:MCD)

ForthRight Wealth Management LLC acquired a new position in McDonald’s Co. (NYSE:MCD) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 777 shares of the fast-food giant’s stock, valued at approximately $243,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in McDonald’s by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant’s stock worth $20,341,391,000 after purchasing an additional 526,466 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of McDonald’s by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant’s stock worth $4,652,768,000 after acquiring an additional 157,458 shares in the last quarter. Capital Research Global Investors increased its stake in shares of McDonald’s by 5.2% in the 4th quarter. Capital Research Global Investors now owns 10,652,445 shares of the fast-food giant’s stock worth $3,088,037,000 after acquiring an additional 531,070 shares in the last quarter. Norges Bank bought a new position in shares of McDonald’s in the 4th quarter worth about $2,725,190,000. Finally, Northern Trust Corp increased its stake in shares of McDonald’s by 11.2% in the 4th quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant’s stock worth $2,570,511,000 after acquiring an additional 895,896 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Up 0.5%

Shares of NYSE MCD opened at $301.93 on Thursday. The firm’s 50-day moving average price is $311.84 and its 200-day moving average price is $302.83. The company has a market cap of $215.89 billion, a PE ratio of 26.51, a PEG ratio of 3.10 and a beta of 0.56. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.67. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The firm’s revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.70 earnings per share. As a group, equities research analysts anticipate that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Monday, June 2nd. McDonald’s’s payout ratio is 62.49%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Robert W. Baird increased their price target on shares of McDonald’s from $300.00 to $315.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Barclays increased their price target on shares of McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Erste Group Bank lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 24th. Truist Financial set a $350.00 price target on shares of McDonald’s in a research note on Friday, May 2nd. Finally, Northcoast Research lowered shares of McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $321.79.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $315.07, for a total value of $295,850.73. Following the transaction, the insider now owns 11,161 shares of the company’s stock, valued at approximately $3,516,496.27. This trade represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by 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.