Axxcess Wealth Management LLC Boosts Stock Position in McDonald’s Co. (NYSE:MCD)

Axxcess Wealth Management LLC lifted its position in McDonald’s Co. (NYSE:MCD) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,477 shares of the fast-food giant’s stock after purchasing an additional 885 shares during the quarter. Axxcess Wealth Management LLC’s holdings in McDonald’s were worth $8,062,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCD. Hara Capital LLC purchased a new stake in shares of McDonald’s in the 3rd quarter valued at $44,000. Kings Path Partners LLC purchased a new stake in McDonald’s in the second quarter valued at $38,000. Opal Wealth Advisors LLC acquired a new stake in McDonald’s during the 2nd quarter worth about $59,000. Bbjs Financial Advisors LLC purchased a new position in shares of McDonald’s during the 2nd quarter valued at about $65,000. Finally, Macroview Investment Management LLC lifted its holdings in shares of McDonald’s by 433.3% in the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after buying an additional 208 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $298.97 on Friday. The business’s 50 day moving average price is $299.08 and its 200 day moving average price is $276.64. The company has a market cap of $214.46 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 3.91 and a beta of 0.74. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the firm earned $3.19 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.37%. McDonald’s’s dividend payout ratio is 58.65%.

Analysts Set New Price Targets

MCD has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price target on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. Wells Fargo & Company boosted their target price on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $320.00 to $290.00 in a report on Wednesday, October 23rd. TD Cowen reaffirmed a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a report on Tuesday, October 29th. Finally, Truist Financial lowered their target price on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $319.46.

Insider Transactions at McDonald’s

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,596 shares of company stock worth $10,698,289 in the last 90 days. Insiders own 0.23% of the company’s stock.

About McDonald’s

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.