HBK Sorce Advisory LLC Has $6.84 Million Stock Position in McDonald’s Corporation $MCD

HBK Sorce Advisory LLC boosted its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 48.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,242 shares of the fast-food giant’s stock after acquiring an additional 7,637 shares during the quarter. HBK Sorce Advisory LLC’s holdings in McDonald’s were worth $6,842,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of McDonald’s by 1.3% during the second quarter. Vanguard Group Inc. now owns 71,331,031 shares of the fast-food giant’s stock worth $20,840,787,000 after purchasing an additional 921,936 shares during the period. State Street Corp increased its stake in McDonald’s by 0.8% in the 2nd quarter. State Street Corp now owns 34,828,352 shares of the fast-food giant’s stock valued at $10,175,800,000 after buying an additional 272,139 shares during the period. Geode Capital Management LLC lifted its position in McDonald’s by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 16,828,420 shares of the fast-food giant’s stock worth $4,901,595,000 after buying an additional 276,065 shares in the last quarter. Norges Bank acquired a new stake in shares of McDonald’s during the 2nd quarter valued at $2,780,712,000. Finally, Laurel Wealth Advisors LLC grew its holdings in shares of McDonald’s by 29,382.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock valued at $1,676,339,000 after acquiring an additional 5,718,087 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity

In other news, EVP Manuel Jm Steijaert sold 6,567 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $305.50, for a total value of $2,006,218.50. Following the sale, the executive vice president directly owned 4,606 shares of the company’s stock, valued at approximately $1,407,133. This trade represents a 58.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,486 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $320.00, for a total value of $795,520.00. Following the transaction, the executive vice president directly owned 6,268 shares of the company’s stock, valued at $2,005,760. This represents a 28.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 42,516 shares of company stock valued at $13,036,090 over the last three months. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on MCD. Citigroup cut their price objective on McDonald’s from $381.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, October 21st. Wells Fargo & Company lifted their price target on McDonald’s from $340.00 to $345.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a research note on Friday, October 24th. BMO Capital Markets reaffirmed an “outperform” rating on shares of McDonald’s in a research report on Thursday, November 6th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of McDonald’s in a research note on Wednesday, December 10th. Eleven analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $324.57.

McDonald’s Stock Up 0.2%

Shares of McDonald’s stock opened at $316.38 on Tuesday. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The stock has a 50 day moving average price of $307.51 and a two-hundred day moving average price of $303.87. The stock has a market capitalization of $225.31 billion, a P/E ratio of 26.99, a PEG ratio of 3.51 and a beta of 0.52.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The firm had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.10 billion. McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.23 EPS. Sell-side analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date was Monday, December 1st. McDonald’s’s dividend payout ratio is currently 63.48%.

McDonald’s Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.