Wealthfront Advisers LLC grew its holdings in shares of McDonald’s Corporation (NYSE:MCD – Free Report) by 2.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,804 shares of the fast-food giant’s stock after acquiring an additional 2,246 shares during the period. Wealthfront Advisers LLC’s holdings in McDonald’s were worth $28,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of MCD. Your Advocates Ltd. LLP bought a new stake in McDonald’s during the fourth quarter valued at about $27,000. Park Place Capital Corp boosted its stake in shares of McDonald’s by 95.7% in the fourth quarter. Park Place Capital Corp now owns 92 shares of the fast-food giant’s stock worth $28,000 after acquiring an additional 45 shares during the period. IFC & Insurance Marketing Inc. bought a new position in shares of McDonald’s in the fourth quarter worth about $29,000. Abound Financial LLC purchased a new stake in shares of McDonald’s during the fourth quarter worth about $30,000. Finally, DecisionPoint Financial LLC grew its position in shares of McDonald’s by 1,616.7% during the fourth quarter. DecisionPoint Financial LLC now owns 103 shares of the fast-food giant’s stock worth $31,000 after purchasing an additional 97 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.
McDonald’s Price Performance
Shares of MCD stock opened at $264.88 on Thursday. The company has a market cap of $188.20 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 2.79 and a beta of 0.41. McDonald’s Corporation has a 1 year low of $264.09 and a 1 year high of $341.75. The stock’s 50 day simple moving average is $277.44 and its two-hundred day simple moving average is $300.82.
McDonald’s Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, June 2nd. McDonald’s’s dividend payout ratio (DPR) is currently 61.34%.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. Weiss Ratings cut shares of McDonald’s from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Morgan Stanley set a $322.00 target price on shares of McDonald’s in a research report on Wednesday. Robert W. Baird set a $305.00 target price on shares of McDonald’s in a research note on Thursday, May 7th. Erste Group Bank downgraded shares of McDonald’s from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, KeyCorp restated an “overweight” rating on shares of McDonald’s in a research report on Wednesday. Fifteen analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $336.35.
View Our Latest Research Report on McDonald’s
Trending Headlines about McDonald’s
Here are the key news stories impacting McDonald’s this week:
- Positive Sentiment: McDonald’s is rolling out several limited-time menu items, including new chicken products and a Caesar sauce, which could boost customer traffic and add to sales momentum. McDonald’s Is Releasing 4 New Menu Items for a Limited Time
- Positive Sentiment: The new Caesar sauce and related chicken sandwich/snack wrap offerings signal continued menu innovation, which investors may view as a way to defend market share in a mixed restaurant environment. McDonald’s upcoming Caesar sauce brings a new sandwich and snack wrap to the summer menu
- Positive Sentiment: The BT21 Happy Meal promotion adds a collectible, marketing-driven sales event that could attract families and drive near-term visits. How Long Will the BT21 Happy Meal Be Available at McDonald’s?
- Neutral Sentiment: Some coverage focuses on the new PlayPlace design and toy promotions, which are good for brand buzz but are unlikely to materially change fundamentals on their own. People Are Talking About McDonald’s New “See-Through” PlayPlace Design
- Neutral Sentiment: Analyst and valuation-related articles suggest MCD may look attractive on a long-term basis, but they do not appear to be major catalysts by themselves. MCD at $268, Starbucks at $106: Buy, Sell or Hold?
- Negative Sentiment: Citigroup trimmed its price target on McDonald’s, which may temper enthusiasm even though it kept a buy rating. Benzinga report on Citigroup price target cut
Insider Transactions at McDonald’s
In other news, insider Joseph M. Erlinger sold 5,252 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $284.32, for a total transaction of $1,493,248.64. Following the transaction, the insider directly owned 7,734 shares of the company’s stock, valued at approximately $2,198,930.88. This trade represents a 40.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 2,763 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $278.36, for a total value of $769,108.68. Following the transaction, the executive vice president owned 6,268 shares in the company, valued at approximately $1,744,760.48. This represents a 30.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,681 shares of company stock valued at $2,456,440 in the last quarter. 0.26% of the stock is currently owned by company insiders.
About McDonald’s
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.
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