NewEdge Wealth LLC Boosts Stock Position in McDonald’s Corporation $MCD

NewEdge Wealth LLC boosted its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 13.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,601 shares of the fast-food giant’s stock after acquiring an additional 3,341 shares during the quarter. NewEdge Wealth LLC’s holdings in McDonald’s were worth $8,741,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in McDonald’s by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 72,351,127 shares of the fast-food giant’s stock valued at $22,112,675,000 after acquiring an additional 703,458 shares during the period. State Street Corp boosted its holdings in McDonald’s by 0.6% during the 3rd quarter. State Street Corp now owns 35,024,857 shares of the fast-food giant’s stock valued at $10,643,704,000 after acquiring an additional 196,505 shares during the period. Legal & General Group Plc boosted its holdings in McDonald’s by 6.4% during the 3rd quarter. Legal & General Group Plc now owns 4,757,967 shares of the fast-food giant’s stock valued at $1,445,899,000 after acquiring an additional 286,284 shares during the period. Ameriprise Financial Inc. boosted its holdings in McDonald’s by 0.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,422,014 shares of the fast-food giant’s stock valued at $1,343,501,000 after acquiring an additional 21,168 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of McDonald’s by 36.6% in the 3rd quarter. Franklin Resources Inc. now owns 4,396,837 shares of the fast-food giant’s stock worth $1,336,155,000 after buying an additional 1,179,244 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Key Headlines Impacting McDonald’s

Here are the key news stories impacting McDonald’s this week:

• Positive Sentiment: McDonald’s beat Q1 earnings and revenue estimates, with EPS of $2.83 and revenue of $6.52 billion, helping reassure investors that the brand is still executing well in a tougher consumer environment. Article Title
• Positive Sentiment: Global comparable sales rose 3.8%, supported by value meals, loyalty spending, and new menu items such as the Big Arch burger and specialty drinks, showing McDonald’s value push is driving traffic and sales growth. Article Title
• Positive Sentiment: Several analysts kept bullish ratings even as they trimmed price targets, reflecting confidence that McDonald’s can keep gaining share and recover if consumer demand stabilizes. Article Title

Insiders Place Their Bets

In related news, CEO Christopher J. Kempczinski sold 26,277 shares of the company’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $331.35, for a total transaction of $8,706,883.95. Following the transaction, the chief executive officer directly owned 22,900 shares of the company’s stock, valued at $7,587,915. This represents a 53.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CMO Edith Morgan Flatley sold 4,692 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $331.00, for a total value of $1,553,052.00. Following the transaction, the chief marketing officer directly owned 6,200 shares in the company, valued at $2,052,200. This represents a 43.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 71,990 shares of company stock valued at $23,824,113. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Weiss Ratings cut McDonald’s from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, April 27th. Truist Financial upped their target price on McDonald’s from $356.00 to $370.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Rothschild & Co Redburn upgraded McDonald’s from a “sell” rating to a “neutral” rating and upped their target price for the stock from $260.00 to $306.00 in a report on Thursday, April 23rd. Jefferies Financial Group upped their target price on McDonald’s from $360.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Finally, JPMorgan Chase & Co. upped their target price on McDonald’s from $305.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, February 24th. Seventeen investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus target price of $335.14.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $275.62 on Monday. The business’s 50-day moving average is $311.40 and its 200 day moving average is $311.40. McDonald’s Corporation has a 1 year low of $274.83 and a 1 year high of $341.75. The firm has a market capitalization of $195.83 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.58 and a beta of 0.43.

McDonald’s (NYSE:MCD) last announced its earnings results on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.09. McDonald’s had a negative return on equity of 442.10% and a net margin of 31.62%.The company had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.47 billion. During the same period in the prior year, the company posted $2.67 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, analysts expect that McDonald’s Corporation will post 13.04 EPS for the current year.

McDonald’s 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.