Rainey & Randall Wealth Advisors Inc. Grows Stock Position in McDonald’s Corporation $MCD

Rainey & Randall Wealth Advisors Inc. boosted its position in McDonald’s Corporation (NYSE:MCD) by 0.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 11,828 shares of the fast-food giant’s stock after purchasing an additional 111 shares during the period. McDonald’s makes up approximately 0.6% of Rainey & Randall Wealth Advisors Inc.’s holdings, making the stock its 19th largest holding. Rainey & Randall Wealth Advisors Inc.’s holdings in McDonald’s were worth $3,456,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. HFM Investment Advisors LLC purchased a new stake in McDonald’s in the first quarter worth $26,000. Nova Wealth Management Inc. purchased a new stake in McDonald’s in the first quarter worth $26,000. Abound Financial LLC purchased a new stake in McDonald’s in the first quarter worth $30,000. Redmont Wealth Advisors LLC purchased a new stake in McDonald’s in the first quarter worth $31,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of McDonald’s in the first quarter valued at $31,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

NYSE:MCD opened at $300.09 on Friday. The firm has a market capitalization of $214.15 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 3.06 and a beta of 0.50. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The stock has a fifty day moving average of $306.88 and a 200 day moving average of $306.19.

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

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a dividend of $1.77 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares of the company’s stock, valued at $30,690. The trade was a 90.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president directly owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,402 shares of company stock worth $2,273,407. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MCD shares. Piper Sandler lifted their price target on McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Evercore ISI lifted their price target on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Loop Capital cut McDonald’s from a “buy” rating to a “hold” rating and reduced their price target for the company from $346.00 to $315.00 in a research report on Friday, June 6th. JPMorgan Chase & Co. lifted their price target on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Finally, Truist Financial lifted their price target on McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Eleven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $325.86.

McDonald’s Company 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.