McDonald’s Corporation $MCD Shares Bought by Florida Trust Wealth Management Co

Florida Trust Wealth Management Co boosted its stake in shares of McDonald’s Corporation (NYSE:MCD) by 7.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,681 shares of the fast-food giant’s stock after buying an additional 1,953 shares during the quarter. Florida Trust Wealth Management Co’s holdings in McDonald’s were worth $7,482,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Peterson Wealth Services boosted its position in shares of McDonald’s by 3,294.5% during the fourth quarter. Peterson Wealth Services now owns 11,779 shares of the fast-food giant’s stock worth $3,600,000 after buying an additional 11,432 shares during the period. Harbour Investments Inc. raised its holdings in shares of McDonald’s by 84.4% in the 4th quarter. Harbour Investments Inc. now owns 35,510 shares of the fast-food giant’s stock valued at $10,853,000 after buying an additional 16,252 shares during the period. Capital International Sarl raised its holdings in shares of McDonald’s by 10.4% in the 4th quarter. Capital International Sarl now owns 64,256 shares of the fast-food giant’s stock valued at $19,639,000 after buying an additional 6,079 shares during the period. North Dakota State Investment Board acquired a new position in McDonald’s during the 4th quarter worth about $7,493,000. Finally, Pittenger & Anderson Inc. lifted its stake in McDonald’s by 21.9% during the 4th quarter. Pittenger & Anderson Inc. now owns 21,487 shares of the fast-food giant’s stock worth $6,567,000 after acquiring an additional 3,866 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,763 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $278.36, for a total value of $769,108.68. Following the sale, the executive vice president directly owned 6,268 shares of the company’s stock, valued at approximately $1,744,760.48. This represents a 30.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 5,252 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $284.32, for a total transaction of $1,493,248.64. Following the completion of the sale, the insider owned 7,734 shares in the company, valued at $2,198,930.88. The trade was a 40.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,348 shares of company stock valued at $2,355,634 in the last quarter. 0.26% of the stock is owned by insiders.

McDonald’s Price Performance

Shares of NYSE MCD opened at $272.28 on Friday. The stock’s 50-day moving average is $273.95 and its two-hundred day moving average is $295.44. McDonald’s Corporation has a 1-year low of $260.96 and a 1-year high of $341.75. The company has a market cap of $192.68 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 3.09 and a beta of 0.41.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, August 4th. The fast-food giant reported $3.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.06. McDonald’s had a negative return on equity of 512.80% and a net margin of 31.72%.The business had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $7.13 billion. During the same quarter last year, the business posted $3.19 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that McDonald’s Corporation will post 12.88 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be issued a $1.86 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $7.44 annualized dividend and a yield of 2.7%. McDonald’s’s dividend payout ratio (DPR) is 60.44%.

Analyst Ratings Changes

MCD has been the subject of a number of research analyst reports. Barclays lowered their target price on McDonald’s from $380.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Weiss Ratings cut shares of McDonald’s from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Tigress Financial raised their price objective on shares of McDonald’s from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Evercore set a $320.00 price objective on shares of McDonald’s in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. cut their target price on shares of McDonald’s from $325.00 to $305.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and a consensus target price of $325.44.

Key Stories Impacting McDonald’s

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

• Positive Sentiment: Nationwide menu initiatives, including new energy-focused beverages, seven menu additions, and the limited-time Hello Kitty and Godzilla Happy Meal promotion, could support traffic, customer engagement, and comparable-sales growth. McDonald’s serving up new kind of energy boost on menus nationwide
• Positive Sentiment: Some analysts see potential upside toward the mid-$300s if McDonald’s improves U.S. same-store sales and executes its McDonald’s NEXT strategy effectively. The company also continues to benefit from its large franchise and real-estate platform. McDonald’s stock gets fair value trim as analysts split on U.S. execution

McDonald’s Profile

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.