MGO One Seven LLC Increases Holdings in McDonald’s Corporation $MCD

MGO One Seven LLC increased its stake in shares of McDonald’s Corporation (NYSE:MCD) by 11.3% during the third quarter, HoldingsChannel.com reports. The firm owned 20,708 shares of the fast-food giant’s stock after buying an additional 2,098 shares during the period. MGO One Seven LLC’s holdings in McDonald’s were worth $6,293,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Citizens Financial Group Inc. RI lifted its holdings in shares of McDonald’s by 9.2% in the third quarter. Citizens Financial Group Inc. RI now owns 33,334 shares of the fast-food giant’s stock worth $10,130,000 after buying an additional 2,819 shares in the last quarter. Lodestone Wealth Management LLC increased its holdings in McDonald’s by 4.8% during the 3rd quarter. Lodestone Wealth Management LLC now owns 2,408 shares of the fast-food giant’s stock worth $732,000 after acquiring an additional 110 shares during the period. Tema Etfs LLC bought a new stake in McDonald’s during the 3rd quarter worth approximately $4,090,000. Evergreen Private Wealth LLC lifted its stake in McDonald’s by 162.5% in the 3rd quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock worth $26,000 after purchasing an additional 52 shares in the last quarter. Finally, Continuum Wealth Advisors LLC boosted its holdings in McDonald’s by 12.3% in the 3rd quarter. Continuum Wealth Advisors LLC now owns 914 shares of the fast-food giant’s stock valued at $278,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other news, CFO Ian Frederick Borden sold 17,134 shares of McDonald’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the sale, the chief financial officer owned 26,353 shares of the company’s stock, valued at approximately $8,169,430. The trade was a 39.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 3,195 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $305.82, for a total transaction of $977,094.90. Following the completion of the sale, the insider owned 6,088 shares of the company’s stock, valued at $1,861,832.16. This trade represents a 34.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 42,516 shares of company stock valued at $13,036,090. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MCD. Wells Fargo & Company upped their price target on shares of McDonald’s from $340.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Mizuho upgraded McDonald’s to a “hold” rating in a research note on Tuesday, October 28th. Truist Financial raised their price target on McDonald’s from $350.00 to $356.00 and gave the company a “buy” rating in a report on Thursday. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a report on Friday, October 24th. Finally, Cowen restated a “hold” rating on shares of McDonald’s in a research report on Thursday. Thirteen investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $328.88.

McDonald’s Stock Down 0.2%

Shares of MCD opened at $306.78 on Tuesday. The firm has a fifty day simple moving average of $308.14 and a two-hundred day simple moving average of $305.16. The stock has a market capitalization of $218.47 billion, a P/E ratio of 26.18, a PEG ratio of 3.05 and a beta of 0.53. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. The business had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.10 billion. During the same quarter in the prior year, the firm earned $3.23 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, December 1st. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s payout ratio is presently 63.48%.

McDonald’s Company Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.