Groesbeck Investment Management Corp NJ Increases Position in McDonald’s Co. (NYSE:MCD)

Groesbeck Investment Management Corp NJ boosted its holdings in shares of McDonald’s Co. (NYSE:MCD) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,620 shares of the fast-food giant’s stock after purchasing an additional 40 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in McDonald’s were worth $480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Independent Wealth Network Inc. raised its position in shares of McDonald’s by 4.2% in the fourth quarter. Independent Wealth Network Inc. now owns 863 shares of the fast-food giant’s stock worth $256,000 after acquiring an additional 35 shares during the period. Paragon Capital Management Ltd raised its position in shares of McDonald’s by 2.7% during the 4th quarter. Paragon Capital Management Ltd now owns 1,374 shares of the fast-food giant’s stock worth $407,000 after purchasing an additional 36 shares during the last quarter. Unique Wealth LLC raised its position in shares of McDonald’s by 1.2% during the 4th quarter. Unique Wealth LLC now owns 3,249 shares of the fast-food giant’s stock worth $963,000 after purchasing an additional 38 shares during the last quarter. Patron Partners LLC raised its position in shares of McDonald’s by 0.7% during the 4th quarter. Patron Partners LLC now owns 5,158 shares of the fast-food giant’s stock worth $1,529,000 after purchasing an additional 38 shares during the last quarter. Finally, Wagner Wealth Management LLC raised its position in shares of McDonald’s by 4.4% during the 4th quarter. Wagner Wealth Management LLC now owns 906 shares of the fast-food giant’s stock worth $269,000 after purchasing an additional 38 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total transaction of $312,533.62. Following the sale, the insider now directly owns 18,075 shares in the company, valued at approximately $5,140,168.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is owned by company insiders.

McDonald’s Price Performance

Shares of MCD traded up $0.20 during midday trading on Thursday, reaching $270.15. The stock had a trading volume of 1,094,897 shares, compared to its average volume of 3,216,908. McDonald’s Co. has a 1-year low of $245.73 and a 1-year high of $302.39. The company’s fifty day simple moving average is $283.86 and its two-hundred day simple moving average is $280.69. The company has a market cap of $194.78 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 2.88 and a beta of 0.71.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, February 5th. The fast-food giant reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.12. McDonald’s had a net margin of 33.22% and a negative return on equity of 171.96%. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same period last year, the business earned $2.59 EPS. The company’s revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts forecast that McDonald’s Co. will post 12.34 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $1.67 per share. The ex-dividend date was Thursday, February 29th. This represents a $6.68 annualized dividend and a yield of 2.47%. McDonald’s’s dividend payout ratio is currently 57.74%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Truist Financial reduced their price target on shares of McDonald’s from $345.00 to $340.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. HSBC assumed coverage on shares of McDonald’s in a research report on Wednesday, December 20th. They set a “buy” rating and a $317.00 price target for the company. Oppenheimer reaffirmed a “market perform” rating on shares of McDonald’s in a research note on Friday, January 5th. Barclays dropped their price objective on shares of McDonald’s from $343.00 to $340.00 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Finally, UBS Group dropped their price objective on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Nine analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $319.72.

McDonald’s 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.