McDonald’s Corporation $MCD Shares Acquired by Wealthspire Advisors LLC

Wealthspire Advisors LLC lifted its position in McDonald’s Corporation (NYSE:MCD) by 1.7% in the second quarter, Holdings Channel reports. The firm owned 33,702 shares of the fast-food giant’s stock after acquiring an additional 552 shares during the period. Wealthspire Advisors LLC’s holdings in McDonald’s were worth $9,847,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in MCD. Nova Wealth Management Inc. acquired a new stake in shares of McDonald’s in the first quarter valued at approximately $26,000. HFM Investment Advisors LLC purchased a new stake in McDonald’s in the 1st quarter valued at $26,000. Decker Retirement Planning Inc. raised its position in McDonald’s by 142.9% in the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in McDonald’s during the 2nd quarter worth $25,000. Finally, GFG Capital LLC purchased a new position in McDonald’s during the 2nd quarter worth $29,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MCD. BTIG Research reiterated a “neutral” rating on shares of McDonald’s in a research note on Friday, October 24th. Guggenheim upped their price objective on McDonald’s from $295.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday. TD Cowen lifted their target price on McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research note on Wednesday, August 6th. Citigroup dropped their target price on McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, October 21st. Finally, Evercore ISI upped their price target on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Eleven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $324.57.

Insiders Place Their Bets

In related news, EVP Manuel Jm Steijaert sold 13,134 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total value of $3,945,716.28. Following the sale, the executive vice president directly owned 4,606 shares in the company, valued at $1,383,734.52. The trade was a 74.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the sale, the chief marketing officer directly owned 6,858 shares in the company, valued at approximately $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 17,329 shares of company stock worth $5,237,811. 0.25% of the stock is owned by corporate insiders.

McDonald’s Stock Down 0.0%

Shares of MCD opened at $304.83 on Wednesday. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The company has a 50-day simple moving average of $303.05 and a 200-day simple moving average of $304.42. The company has a market capitalization of $217.08 billion, a PE ratio of 26.12, a P/E/G ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last issued its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the previous year, the company posted $3.23 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, research analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $1.86 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, December 1st. McDonald’s’s payout ratio is presently 63.48%.

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.