PUREfi Wealth LLC Has $759,000 Stake in McDonald's Corporation (NYSE:MCD)

PUREfi Wealth LLC boosted its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 81.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,431 shares of the fast-food giant's stock after purchasing an additional 1,088 shares during the period. McDonald's accounts for approximately 0.8% of PUREfi Wealth LLC's holdings, making the stock its 29th largest holding. PUREfi Wealth LLC's holdings in McDonald's were worth $759,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Granite Bay Wealth Management LLC increased its holdings in shares of McDonald's by 3.5% in the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock worth $309,000 after acquiring an additional 33 shares in the last quarter. CVA Family Office LLC increased its holdings in shares of McDonald's by 1.9% in the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock worth $560,000 after acquiring an additional 33 shares in the last quarter. Consilium Wealth Advisory LLC increased its holdings in shares of McDonald's by 2.5% in the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock worth $417,000 after acquiring an additional 33 shares in the last quarter. Northeast Financial Consultants Inc increased its holdings in shares of McDonald's by 0.5% in the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock worth $2,170,000 after acquiring an additional 34 shares in the last quarter. Finally, Tealwood Asset Management Inc. increased its holdings in shares of McDonald's by 0.4% in the first quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant's stock worth $2,535,000 after acquiring an additional 34 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total value of $295,850.73. Following the completion of the sale, the insider now directly owns 11,161 shares of the company's stock, valued at $3,516,496.27. This trade represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MCD. Morgan Stanley restated an "equal weight" rating and issued a $324.00 price target (down from $329.00) on shares of McDonald's in a report on Monday, June 9th. Loop Capital downgraded McDonald's from a "buy" rating to a "hold" rating and lowered their price target for the stock from $346.00 to $315.00 in a report on Friday, June 6th. Truist Financial set a $350.00 price target on McDonald's in a report on Friday, May 2nd. Barclays increased their price objective on McDonald's from $347.00 to $355.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Finally, Redburn Atlantic reiterated 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. One research 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 MarketBeat, McDonald's currently has a consensus rating of "Hold" and an average price target of $321.79.

McDonald's Stock Down 1.3%

MCD stock opened at $292.35 on Wednesday. The business has a 50 day moving average price of $311.66 and a two-hundred day moving average price of $302.95. The company has a market cap of $209.04 billion, a price-to-earnings ratio of 25.80, a P/E/G ratio of 3.09 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 posted its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting analysts' consensus estimates of $2.67. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The business's revenue was down 3.5% compared to the same quarter last year. During the same period last year, the company earned $2.70 earnings per share. On average, equities research analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $1.77 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.42%. McDonald's's payout ratio is 62.49%.

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.

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