Onyx Bridge Wealth Group LLC Grows Stake in McDonald’s Co. (NYSE:MCD)

Onyx Bridge Wealth Group LLC increased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 16.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,238 shares of the fast-food giant’s stock after purchasing an additional 171 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in McDonald’s were worth $367,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Shulman DeMeo Asset Management LLC grew its holdings in McDonald’s by 12.2% during the 4th quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock valued at $312,000 after buying an additional 114 shares in the last quarter. Beaumont Financial Advisors LLC grew its holdings in McDonald’s by 0.6% during the 3rd quarter. Beaumont Financial Advisors LLC now owns 80,441 shares of the fast-food giant’s stock valued at $21,191,000 after buying an additional 450 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services grew its holdings in McDonald’s by 2.8% during the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock valued at $3,269,000 after buying an additional 301 shares in the last quarter. Mengis Capital Management Inc. grew its holdings in McDonald’s by 7.9% during the 3rd quarter. Mengis Capital Management Inc. now owns 4,522 shares of the fast-food giant’s stock valued at $1,191,000 after buying an additional 331 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC grew its holdings in McDonald’s by 7.7% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 1,227 shares of the fast-food giant’s stock valued at $323,000 after buying an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the transaction, the insider now directly owns 18,075 shares in the company, valued at approximately $5,140,168.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MCD. Truist Financial dropped their target price on McDonald’s from $345.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Stifel Nicolaus dropped their target price on McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, April 11th. Citigroup dropped their target price on McDonald’s from $312.00 to $297.00 and set a “neutral” rating for the company in a report on Tuesday. Oppenheimer reiterated a “market perform” rating on shares of McDonald’s in a report on Friday, January 5th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $330.00 target price on shares of McDonald’s in a report on Wednesday, March 27th. Nine research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $319.72.

McDonald’s Stock Performance

NYSE MCD traded up $1.01 on Friday, reaching $271.99. 3,017,097 shares of the stock traded hands, compared to its average volume of 3,163,395. The company has a fifty day moving average price of $283.10 and a 200-day moving average price of $280.72. The company has a market cap of $196.11 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 2.98 and a beta of 0.71. McDonald’s Co. has a 12 month low of $245.73 and a 12 month high of $302.39.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, February 5th. The fast-food giant reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.12. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. The business had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same period last year, the business posted $2.59 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. As a group, research analysts anticipate that McDonald’s Co. will post 12.33 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $1.67 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.46%. McDonald’s’s dividend payout ratio is presently 57.74%.

About McDonald’s

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.