Waycross Partners LLC Acquires 10,354 Shares of McDonald's Corporation (NYSE:MCD)

Key Points

• Waycross Partners LLC increased its stake in McDonald's Corporation by 20.9%, owning 59,799 shares after purchasing an additional 10,354 shares, which valued at approximately $18.68 million.
• Several institutional investors, including Granite Bay Wealth Management LLC and CVA Family Office LLC, also modified their holdings, reflecting a trend of increased investments in McDonald's stock.
• McDonald's announced a quarterly dividend of $1.77 per share, with a yield of 2.3%, highlighting its ongoing commitment to returning value to shareholders amidst fluctuating stock performance.

Waycross Partners LLC raised its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 20.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,799 shares of the fast-food giant's stock after acquiring an additional 10,354 shares during the quarter. McDonald's comprises 2.1% of Waycross Partners LLC's holdings, making the stock its 22nd largest position. Waycross Partners LLC's holdings in McDonald's were worth $18,679,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Altfest L J & Co. Inc. raised its holdings in McDonald's by 3.3% in the 1st quarter. Altfest L J & Co. Inc. now owns 1,609 shares of the fast-food giant's stock valued at $502,000 after acquiring an additional 52 shares during the period. Chicago Partners Investment Group LLC raised its holdings in McDonald's by 6.6% in the 1st quarter. Chicago Partners Investment Group LLC now owns 20,151 shares of the fast-food giant's stock valued at $6,411,000 after acquiring an additional 1,241 shares during the period. Pinney & Scofield Inc. raised its holdings in McDonald's by 132.0% in the 1st quarter. Pinney & Scofield Inc. now owns 232 shares of the fast-food giant's stock valued at $72,000 after acquiring an additional 132 shares during the period. ASR Vermogensbeheer N.V. bought a new position in shares of McDonald's during the first quarter worth approximately $24,638,000. Finally, Citizens Financial Group Inc. RI increased its holdings in shares of McDonald's by 6.8% during the first quarter. Citizens Financial Group Inc. RI now owns 28,023 shares of the fast-food giant's stock worth $8,754,000 after purchasing an additional 1,774 shares during the period. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction 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 completion of the sale, the insider directly owned 9,283 shares of the company's stock, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the sale, the executive vice president directly owned 8,754 shares of the company's stock, valued at approximately $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 7,280 shares of company stock valued at $2,215,178 over the last quarter. Insiders own 0.25% of the company's stock.

McDonald's Stock Performance

Shares of NYSE:MCD traded down $2.29 during mid-day trading on Friday, reaching $305.62. 2,621,959 shares of the company's stock were exchanged, compared to its average volume of 3,681,905. McDonald's Corporation has a twelve month low of $265.33 and a twelve month high of $326.32. The business's fifty day moving average price is $298.57 and its 200-day moving average price is $304.33. The firm has a market capitalization of $218.09 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 3.21 and a beta of 0.52.

McDonald's (NYSE:MCD - Get Free Report) last announced its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping 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 business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter last year, the firm earned $2.97 earnings per share. McDonald's's quarterly revenue was up 5.4% on a year-over-year basis. Analysts predict that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's dividend payout ratio (DPR) is currently 60.67%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MCD shares. Truist Financial raised their target price on shares of McDonald's from $356.00 to $360.00 and gave the stock a "buy" rating in a report on Thursday. Melius started coverage on shares of McDonald's in a report on Monday, July 14th. They set a "sell" rating and a $250.00 target price on the stock. Piper Sandler raised their target price on shares of McDonald's from $314.00 to $325.00 and gave the stock a "neutral" rating in a report on Thursday. The Goldman Sachs Group raised shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 target price on the stock in a report on Thursday, July 10th. Finally, Erste Group Bank cut shares of McDonald's from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, McDonald's presently has an average rating of "Hold" and a consensus price target of $326.87.

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.