McDonald’s Corporation $MCD Stock Position Lifted by SteelPeak Wealth LLC

SteelPeak Wealth LLC boosted its stake in McDonald’s Corporation (NYSE:MCD) by 14.8% in the third quarter, Holdings Channel reports. The institutional investor owned 28,888 shares of the fast-food giant’s stock after acquiring an additional 3,725 shares during the quarter. SteelPeak Wealth LLC’s holdings in McDonald’s were worth $8,779,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MCD. Retirement Guys Formula LLC grew its holdings in shares of McDonald’s by 3.3% during the 3rd quarter. Retirement Guys Formula LLC now owns 4,505 shares of the fast-food giant’s stock valued at $1,369,000 after acquiring an additional 145 shares in the last quarter. Relyea Zuckerberg Hanson LLC boosted its position in McDonald’s by 4.4% during the third quarter. Relyea Zuckerberg Hanson LLC now owns 6,440 shares of the fast-food giant’s stock valued at $1,957,000 after purchasing an additional 273 shares during the last quarter. Sterling Investment Counsel LLC grew its stake in McDonald’s by 70.8% in the third quarter. Sterling Investment Counsel LLC now owns 3,827 shares of the fast-food giant’s stock valued at $1,163,000 after purchasing an additional 1,586 shares in the last quarter. Three Magnolias Financial Advisors LLC increased its position in McDonald’s by 27.2% in the 3rd quarter. Three Magnolias Financial Advisors LLC now owns 1,403 shares of the fast-food giant’s stock worth $426,000 after purchasing an additional 300 shares during the last quarter. Finally, Braun Stacey Associates Inc. raised its stake in shares of McDonald’s by 10.4% during the 3rd quarter. Braun Stacey Associates Inc. now owns 11,505 shares of the fast-food giant’s stock worth $3,496,000 after purchasing an additional 1,080 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on MCD shares. Citigroup cut their price objective on shares of McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, October 21st. Barclays cut their price target on shares of McDonald’s from $362.00 to $358.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Truist Financial decreased their price objective on shares of McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Piper Sandler restated a “neutral” rating and set a $325.00 target price on shares of McDonald’s in a report on Wednesday, October 22nd. Finally, Morgan Stanley set a $335.00 price target on McDonald’s in a research note on Friday, October 17th. Eleven research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $324.57.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $305.65 on Friday. The stock’s 50-day moving average is $307.93 and its 200-day moving average is $304.21. The company has a market cap of $217.67 billion, a P/E ratio of 26.08, a P/E/G ratio of 3.40 and a beta of 0.53. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32.

McDonald’s (NYSE:MCD) last issued 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). McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The business had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same quarter last year, the firm earned $3.23 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

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

Insider Activity at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 2,486 shares of McDonald’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $320.00, for a total transaction of $795,520.00. Following the sale, the executive vice president owned 6,268 shares of the company’s stock, valued at approximately $2,005,760. This trade represents a 28.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 3,195 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $305.82, for a total value of $977,094.90. Following the sale, the insider owned 6,088 shares in the company, valued at approximately $1,861,832.16. This represents a 34.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 42,516 shares of company stock worth $13,036,090. 0.25% of the stock is owned by company insiders.

About McDonald’s

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.