Perennial Investment Advisors LLC Has $396,000 Stake in McDonald’s Co. (NYSE:MCD)

Perennial Investment Advisors LLC increased its stake in shares of McDonald’s Co. (NYSE:MCD) by 5.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,555 shares of the fast-food giant’s stock after acquiring an additional 86 shares during the quarter. Perennial Investment Advisors LLC’s holdings in McDonald’s were worth $396,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s during the 1st quarter worth about $28,000. Clear Investment Research LLC bought a new position in McDonald’s in the fourth quarter worth approximately $38,000. Kings Path Partners LLC acquired a new stake in McDonald’s in the second quarter valued at approximately $38,000. Accent Capital Management LLC bought a new stake in shares of McDonald’s during the fourth quarter valued at approximately $44,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of McDonald’s during the fourth quarter valued at approximately $45,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCD has been the subject of several research reports. Morgan Stanley reduced their price target on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Tigress Financial boosted their target price on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. BMO Capital Markets dropped their price target on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Bank of America cut their price target on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Finally, Truist Financial lowered their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $306.11.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the transaction, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the sale, the insider now directly owns 14,780 shares in the company, valued at approximately $3,842,800. The disclosure for this sale can be found here. Insiders have sold 6,291 shares of company stock valued at $1,689,073 in the last 90 days. 0.23% of the stock is currently owned by company insiders.

McDonald’s Price Performance

Shares of NYSE MCD opened at $293.73 on Wednesday. The stock has a market capitalization of $211.69 billion, a PE ratio of 24.93, a P/E/G ratio of 3.88 and a beta of 0.72. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39. The business’s fifty day moving average price is $274.83 and its 200-day moving average price is $270.53.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period last year, the company earned $3.17 earnings per share. McDonald’s’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities analysts expect that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $1.67 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.27%. McDonald’s’s dividend payout ratio is 56.71%.

McDonald’s Company Profile

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.