Drive Wealth Management LLC Purchases 3,399 Shares of McDonald's Corporation (NYSE:MCD)

Key Points

• Drive Wealth Management LLC increased its holdings in McDonald's by 167.8%, acquiring an additional 3,399 shares, bringing its total ownership to 5,425 shares valued at approximately $1.7 million.
• Analysts have mixed views on McDonald's, with Piper Sandler and Citigroup raising their price targets, while others, like Redburn Atlantic, have downgraded their ratings.
• The company has announced a quarterly dividend of $1.77 per share, with an annualized yield of 2.40%, to be paid on September 16th.

Drive Wealth Management LLC raised its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 167.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,425 shares of the fast-food giant's stock after purchasing an additional 3,399 shares during the period. Drive Wealth Management LLC's holdings in McDonald's were worth $1,695,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Caliber Wealth Management LLC KS bought a new stake in shares of McDonald's in the 1st quarter valued at about $641,000. Assetmark Inc. increased its stake in shares of McDonald's by 1.5% in the 1st quarter. Assetmark Inc. now owns 69,072 shares of the fast-food giant's stock valued at $21,576,000 after acquiring an additional 999 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of McDonald's by 5.5% in the 1st quarter. Cetera Investment Advisers now owns 309,589 shares of the fast-food giant's stock valued at $96,707,000 after acquiring an additional 16,071 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in shares of McDonald's by 5.7% in the 1st quarter. Avantax Advisory Services Inc. now owns 109,173 shares of the fast-food giant's stock valued at $34,102,000 after acquiring an additional 5,913 shares during the last quarter. Finally, Hamilton Point Investment Advisors LLC increased its stake in shares of McDonald's by 56.4% in the 1st quarter. Hamilton Point Investment Advisors LLC now owns 1,719 shares of the fast-food giant's stock valued at $537,000 after acquiring an additional 620 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald's Price Performance

MCD stock traded up $2.35 during midday trading on Tuesday, reaching $301.57. 961,406 shares of the company were exchanged, compared to its average volume of 3,587,372. The business has a 50-day moving average price of $300.56 and a two-hundred day moving average price of $303.25. McDonald's Corporation has a one year low of $260.31 and a one year high of $326.32. The firm has a market capitalization of $215.63 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 3.12 and a beta of 0.53.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting analysts' consensus estimates of $2.67. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The firm had revenue of $5.96 billion during the quarter, compared to analysts' expectations of $6.17 billion. During the same period in the previous year, the business posted $2.70 earnings per share. The company's revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, analysts anticipate that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Tuesday, September 2nd. McDonald's's dividend payout ratio is currently 62.49%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Bank of America lowered their price target on McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Piper Sandler upped their price target on McDonald's from $292.00 to $314.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. KeyCorp dropped their target price on shares of McDonald's from $340.00 to $325.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Erste Group Bank downgraded shares of McDonald's from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Robert W. Baird raised their target price on shares of McDonald's from $300.00 to $315.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, McDonald's has an average rating of "Hold" and an average price target of $322.00.

Insiders Place Their Bets

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $2,657,400. The trade was a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, the insider directly owned 9,283 shares of the company's stock, valued at approximately $2,780,165.67. This trade represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,817 shares of company stock valued at $1,147,992 in the last three months. Insiders own 0.25% of the company's stock.

McDonald's Company 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.