Mission Wealth Management LP lessened its stake in shares of McDonald’s Co. (NYSE:MCD – Get Rating) by 2.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,126 shares of the fast-food giant’s stock after selling 451 shares during the quarter. Mission Wealth Management LP’s holdings in McDonald’s were worth $3,988,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in MCD. Norwood Financial Corp purchased a new position in shares of McDonald’s during the 4th quarter worth $27,000. Artemis Wealth Advisors LLC purchased a new position in McDonald’s during the first quarter worth about $28,000. Castle Financial & Retirement Planning Associates Inc. acquired a new stake in McDonald’s in the 4th quarter worth about $34,000. Conrad Siegel Investment Advisors Inc. purchased a new stake in McDonald’s in the 1st quarter valued at about $37,000. Finally, Horan Securities Inc. acquired a new position in shares of McDonald’s during the 4th quarter valued at about $45,000. 68.44% of the stock is owned by institutional investors.
MCD has been the topic of a number of research analyst reports. Atlantic Securities upgraded shares of McDonald’s from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $245.00 to $278.00 in a report on Wednesday, June 29th. Oppenheimer decreased their price target on shares of McDonald’s from $290.00 to $280.00 in a research report on Monday, March 14th. Truist Financial cut their price objective on McDonald’s from $280.00 to $273.00 and set a “buy” rating on the stock in a research report on Wednesday, May 25th. Morgan Stanley decreased their target price on McDonald’s from $294.00 to $287.00 and set an “overweight” rating for the company in a research report on Thursday, March 17th. Finally, Piper Sandler dropped their target price on McDonald’s from $282.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, March 28th. Six investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and an average target price of $280.68.
McDonald’s (NYSE:MCD – Get Rating) last released its earnings results on Thursday, April 28th. The fast-food giant reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.10. The firm had revenue of $5.67 billion during the quarter, compared to analyst estimates of $5.57 billion. McDonald’s had a net margin of 29.93% and a negative return on equity of 131.20%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.92 earnings per share. As a group, equities research analysts predict that McDonald’s Co. will post 9.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 20th. Stockholders of record on Monday, June 6th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Friday, June 3rd. This represents a $5.52 annualized dividend and a dividend yield of 2.19%. McDonald’s’s dividend payout ratio is currently 58.29%.
In other news, insider Joseph M. Erlinger sold 5,892 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $249.23, for a total transaction of $1,468,463.16. Following the completion of the transaction, the insider now owns 8,187 shares in the company, valued at $2,040,446.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.
McDonald’s Profile (Get Rating)
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.
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