Wealthspire Advisors LLC Boosts Stake in McDonald's Corporation (NYSE:MCD)

Key Points

• Wealthspire Advisors LLC increased its holdings in McDonald's Corporation by 88.7%, acquiring an additional 15,579 shares during the 1st quarter, bringing their total to 33,150 shares valued at $10,355,000.
• McDonald's announced a quarterly dividend of $1.77 per share, which will be paid on September 16th, representing an annualized dividend of $7.08 and a yield of 2.3%.
• Institutional investors own 70.29% of McDonald's stock, with notable increases in holdings by several firms including GAMMA Investing LLC, which soared by 39,039.7% during the 1st quarter.

Wealthspire Advisors LLC boosted its position in McDonald's Corporation (NYSE:MCD - Free Report) by 88.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,150 shares of the fast-food giant's stock after acquiring an additional 15,579 shares during the quarter. Wealthspire Advisors LLC's holdings in McDonald's were worth $10,355,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MCD. Mascagni Wealth Management Inc. bought a new stake in shares of McDonald's during the fourth quarter worth $25,000. Pinney & Scofield Inc. bought a new stake in shares of McDonald's during the fourth quarter worth $29,000. GKV Capital Management Co. Inc. bought a new stake in shares of McDonald's during the fourth quarter worth $30,000. Abound Financial LLC bought a new stake in shares of McDonald's during the first quarter worth $30,000. Finally, Copia Wealth Management bought a new stake in shares of McDonald's during the fourth quarter worth $31,000. 70.29% of the stock is owned by institutional investors.

McDonald's Trading Down 0.7%

Shares of MCD traded down $2.29 on Friday, reaching $305.62. The company's stock had a trading volume of 2,621,959 shares, 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 stock has a market capitalization of $218.09 billion, a PE ratio of 26.19, a PEG ratio of 3.21 and a beta of 0.52. The firm has a fifty day moving average of $298.57 and a 200-day moving average of $304.33.

McDonald's (NYSE:MCD - Get Free Report) last posted 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 company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the prior year, the business posted $2.97 EPS. The firm's revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have weighed in on MCD. Northcoast Research cut shares of McDonald's from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. Redburn Atlantic reissued a "sell" rating and issued a $260.00 price objective (down previously from $319.00) on shares of McDonald's in a research note on Tuesday, June 10th. Citigroup boosted their price objective on shares of McDonald's from $364.00 to $365.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Bank of America reduced their price objective on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of McDonald's from $305.00 to $310.00 and gave the stock an "overweight" rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $326.87.

Insider Buying and Selling

In other McDonald's news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the sale, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 976 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $303.50, for a total transaction of $296,216.00. Following the completion of the sale, the chief marketing officer owned 7,882 shares of the company's stock, valued at approximately $2,392,187. This trade represents a 11.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,280 shares of company stock worth $2,215,178 in the last quarter. 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.