Cyndeo Wealth Partners LLC Raises Stake in McDonald's Corporation $MCD

Key Points

• Cyndeo Wealth Partners LLC increased its stake in McDonald's by 5.2% during the second quarter, resulting in a total of 27,314 shares valued at approximately $7.98 million.
• Multiple research firms have issued updates on McDonald's, with Evercore ISI raising its price target from $350 to $360 and the Goldman Sachs Group upgrading its rating to "buy" with a target price of $345.
• McDonald's recently announced a quarterly dividend of $1.77 per share, translating to an annualized dividend of $7.08 and a dividend yield of 2.4%.

Cyndeo Wealth Partners LLC boosted its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 5.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 27,314 shares of the fast-food giant's stock after purchasing an additional 1,357 shares during the period. Cyndeo Wealth Partners LLC's holdings in McDonald's were worth $7,980,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. WealthPlan Investment Management LLC grew its stake in McDonald's by 0.9% during the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant's stock worth $1,134,000 after buying an additional 32 shares during the period. CVA Family Office LLC grew its stake in McDonald's by 1.9% during the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock worth $560,000 after buying an additional 33 shares during the period. Consilium Wealth Advisory LLC grew its stake in McDonald's by 2.5% during the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock worth $417,000 after buying an additional 33 shares during the period. Security Financial Services INC. grew its stake in McDonald's by 0.7% during the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock worth $1,575,000 after buying an additional 33 shares during the period. Finally, Stockman Wealth Management Inc. grew its stake in McDonald's by 1.8% during the first quarter. Stockman Wealth Management Inc. now owns 1,964 shares of the fast-food giant's stock worth $613,000 after buying an additional 34 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MCD. Evercore ISI boosted their price objective on shares of McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. The Goldman Sachs Group upgraded shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 target price for the company in a research note on Thursday, July 10th. JPMorgan Chase & Co. upped their target price on shares of McDonald's from $305.00 to $310.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Piper Sandler upped their target price on shares of McDonald's from $314.00 to $325.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, Bank of America decreased their target price on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, McDonald's has a consensus rating of "Hold" and an average price target of $324.73.

Insider Buying and Selling at McDonald's

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the sale, the chief marketing officer directly owned 6,858 shares of the company's stock, valued at approximately $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the sale, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,402 shares of company stock valued at $1,973,407 over the last three months. 0.25% of the stock is currently owned by company insiders.

McDonald's Price Performance

NYSE MCD opened at $293.76 on Friday. McDonald's Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The company has a market capitalization of $209.63 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 3.00 and a beta of 0.50. The company's fifty day moving average price is $306.43 and its two-hundred day moving average price is $305.86.

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

McDonald's Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald's's dividend 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.

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