Legend Financial Advisors Inc. Makes New Investment in McDonald’s Corporation $MCD

Legend Financial Advisors Inc. acquired a new stake in McDonald’s Corporation (NYSE:MCD) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 109 shares of the fast-food giant’s stock, valued at approximately $32,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MCD. WealthPlan Investment Management LLC raised its stake in shares of McDonald’s by 0.9% during the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock worth $1,134,000 after purchasing an additional 32 shares in the last quarter. Granite Bay Wealth Management LLC grew its stake in shares of McDonald’s by 3.5% in the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant’s stock valued at $309,000 after buying an additional 33 shares in the last quarter. CVA Family Office LLC increased its holdings in McDonald’s by 1.9% during the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant’s stock worth $560,000 after buying an additional 33 shares during the last quarter. Consilium Wealth Advisory LLC raised its position in McDonald’s by 2.5% during the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant’s stock worth $417,000 after acquiring an additional 33 shares in the last quarter. Finally, Security Financial Services INC. raised its position in McDonald’s by 0.7% during the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock worth $1,575,000 after acquiring an additional 33 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

NYSE:MCD opened at $302.29 on Friday. The company has a market cap of $215.72 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 3.10 and a beta of 0.50. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The stock has a fifty day moving average price of $306.31 and a 200-day moving average price of $306.15.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.McDonald’s’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business earned $2.97 earnings per share. Research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a $1.77 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. McDonald’s’s payout ratio is presently 60.67%.

Insider Activity

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the sale, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the sale, the executive vice president directly owned 8,754 shares in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,402 shares of company stock worth $2,273,407. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MCD shares. Evercore ISI boosted their price target on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Truist Financial raised their price target on McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Melius initiated coverage on shares of McDonald’s in a report on Monday, July 14th. They issued a “sell” rating and a $250.00 price objective on the stock. Bank of America lowered their price target on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Finally, KeyCorp restated an “overweight” rating and set a $335.00 price objective (up previously from $325.00) on shares of McDonald’s in a report on Thursday, August 7th. Eleven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $325.86.

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.