Spire Wealth Management Increases Position in McDonald's Corporation (NYSE:MCD)

Spire Wealth Management boosted its position in McDonald's Corporation (NYSE:MCD - Free Report) by 8.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,826 shares of the fast-food giant's stock after purchasing an additional 1,037 shares during the period. Spire Wealth Management's holdings in McDonald's were worth $4,006,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in McDonald's by 21.6% during the fourth quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant's stock worth $2,692,000 after buying an additional 1,649 shares in the last quarter. Revolve Wealth Partners LLC increased its position in McDonald's by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant's stock worth $563,000 after buying an additional 52 shares in the last quarter. Bank Pictet & Cie Europe AG increased its position in McDonald's by 15.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 209,464 shares of the fast-food giant's stock worth $60,722,000 after buying an additional 27,774 shares in the last quarter. GHE LLC increased its position in McDonald's by 0.9% during the fourth quarter. GHE LLC now owns 14,677 shares of the fast-food giant's stock worth $4,255,000 after buying an additional 136 shares in the last quarter. Finally, FourThought Financial Partners LLC purchased a new position in McDonald's during the fourth quarter worth $981,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. BTIG Research reissued a "neutral" rating on shares of McDonald's in a research report on Tuesday, April 22nd. Redburn Atlantic reissued a "sell" rating and set a $260.00 price target (down previously from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. Erste Group Bank downgraded McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. KeyCorp raised their price objective on McDonald's from $335.00 to $340.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Finally, Piper Sandler raised their price objective on McDonald's from $292.00 to $314.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $321.79.

Insiders Place Their Bets

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $315.07, for a total transaction of $295,850.73. Following the transaction, the insider now owns 11,161 shares in the company, valued at $3,516,496.27. The trade was a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 2,817 shares of company stock worth $865,843 over the last quarter. 0.25% of the stock is owned by corporate insiders.

McDonald's Stock Performance

McDonald's stock traded up $6.31 during midday trading on Friday, reaching $291.94. The stock had a trading volume of 7,416,108 shares, compared to its average volume of 3,525,803. The stock's 50-day simple moving average is $308.26 and its 200 day simple moving average is $302.52. The stock has a market capitalization of $208.74 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 3.04 and a beta of 0.56. McDonald's Corporation has a twelve month low of $243.53 and a twelve month high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last issued 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. The company had revenue of $5.96 billion for the quarter, compared to analysts' expectations of $6.17 billion. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The firm's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.70 earnings per share. Equities analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald's's dividend payout ratio is presently 62.49%.

About McDonald's

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.