HB Wealth Management LLC Buys 22,500 Shares of McDonald's Corporation (NYSE:MCD)

Key Points

• HB Wealth Management LLC increased its holdings in McDonald's Corporation by 35.7%, purchasing an additional 22,500 shares, and now owns a total of 85,452 shares valued at approximately $26.7 million.
• Notable changes in analyst ratings include Citigroup raising its price target from $364 to $365 with a "buy" rating, while Loop Capital downgraded its rating from "buy" to "hold" and lowered its target from $346 to $315.
• McDonald's declared a quarterly dividend of $1.77 per share, with an ex-dividend date set for September 2nd, reflecting a 2.37% yield for investors.

HB Wealth Management LLC lifted its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 35.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,452 shares of the fast-food giant's stock after purchasing an additional 22,500 shares during the quarter. HB Wealth Management LLC's holdings in McDonald's were worth $26,693,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in McDonald's by 39,039.7% during the 1st quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant's stock worth $1,092,645,000 after acquiring an additional 3,488,982 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in shares of McDonald's in the fourth quarter valued at about $350,935,000. Northern Trust Corp boosted its stake in McDonald's by 11.2% during the fourth quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant's stock worth $2,570,511,000 after buying an additional 895,896 shares in the last quarter. Franklin Resources Inc. boosted its stake in McDonald's by 24.4% in the 4th quarter. Franklin Resources Inc. now owns 4,054,387 shares of the fast-food giant's stock valued at $1,175,326,000 after buying an additional 794,536 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in McDonald's during the fourth quarter worth about $211,824,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald's Price Performance

Shares of MCD stock traded up $1.71 during trading hours on Wednesday, reaching $304.38. The company had a trading volume of 1,307,181 shares, compared to its average volume of 3,586,943. The company has a market cap of $217.64 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 3.13 and a beta of 0.53. McDonald's Corporation has a 12 month low of $262.40 and a 12 month high of $326.32. The business has a fifty day simple moving average of $300.22 and a 200-day simple moving average of $303.25.

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 the consensus estimate of $2.67. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. McDonald's's revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $2.70 EPS. On average, equities research analysts expect that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Tuesday, September 2nd. McDonald's's payout ratio is currently 62.49%.

Insider Buying and Selling at McDonald's

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 transaction of $300,000.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the transaction, the insider owned 9,283 shares of the company's stock, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,817 shares of company stock worth $1,147,992. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. KeyCorp dropped their price target on shares of McDonald's from $340.00 to $325.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Argus lowered McDonald's from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. Erste Group Bank lowered shares of McDonald's from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 24th. Redburn Atlantic restated a "sell" rating and set a $260.00 price objective (down from $319.00) on shares of McDonald's in a report on Tuesday, June 10th. Finally, Piper Sandler upped their target price on shares of McDonald's from $292.00 to $314.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, McDonald's has an average rating of "Hold" and a consensus target price of $322.00.

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.