Biltmore Family Office LLC Increases Position in McDonald's Corporation (NYSE:MCD)

Key Points

• Biltmore Family Office LLC increased its stake in McDonald's by 47.6% in the first quarter, now holding $1.45 million worth of shares.
• McDonald's reported better-than-expected earnings with $3.19 EPS for the quarter, exceeding the estimate of $3.15, alongside a 5.4% increase in revenue from the previous year.
• The company declared a quarterly dividend of $1.77, with an annualized payout of $7.08, representing a dividend yield of 2.3%.

Biltmore Family Office LLC increased its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 47.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,652 shares of the fast-food giant's stock after buying an additional 1,500 shares during the quarter. Biltmore Family Office LLC's holdings in McDonald's were worth $1,453,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Mascagni Wealth Management Inc. acquired a new stake in shares of McDonald's in the 4th quarter valued at $25,000. Pinney & Scofield Inc. acquired a new stake in shares of McDonald's during the 4th quarter valued at $29,000. GKV Capital Management Co. Inc. acquired a new stake in shares of McDonald's during the 4th quarter valued at $30,000. Abound Financial LLC acquired a new stake in shares of McDonald's during the 1st quarter valued at $30,000. Finally, Copia Wealth Management acquired a new stake in shares of McDonald's during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 70.29% of the company's stock.

Insider Buying and Selling at McDonald's

In other McDonald's news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the transaction, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. The trade was a 22.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the transaction, the chief marketing officer owned 8,858 shares in the company, valued at $2,657,400. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,280 shares of company stock worth $2,215,178. Insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Piper Sandler raised their price objective on McDonald's from $314.00 to $325.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Truist Financial raised their price objective on McDonald's from $356.00 to $360.00 and gave the company a "buy" rating in a report on Thursday, August 7th. KeyCorp reissued an "overweight" rating and set a $335.00 price objective (up previously from $325.00) on shares of McDonald's in a report on Thursday, August 7th. BTIG Research reissued a "neutral" rating on shares of McDonald's in a report on Tuesday, April 22nd. Finally, Morgan Stanley raised their target price on McDonald's from $324.00 to $326.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $326.87.

McDonald's Price Performance

Shares of MCD traded down $2.73 during trading hours on Tuesday, hitting $301.63. The stock had a trading volume of 3,438,206 shares, compared to its average volume of 3,433,888. The firm has a 50 day simple moving average of $298.17 and a 200-day simple moving average of $304.74. The firm has a market capitalization of $215.24 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 3.11 and a beta of 0.52. McDonald's Corporation has a 1-year low of $267.54 and a 1-year high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last issued its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating the consensus estimate of $3.15 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $2.97 EPS. Equities analysts predict that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $1.77 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. McDonald's's payout ratio is 60.67%.

McDonald's 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.