McDonald’s Corporation $MCD Shares Bought by Sunbelt Securities Inc.

Sunbelt Securities Inc. boosted its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 30.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,385 shares of the fast-food giant’s stock after buying an additional 3,158 shares during the quarter. Sunbelt Securities Inc.’s holdings in McDonald’s were worth $4,068,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Evergreen Private Wealth LLC raised its holdings in shares of McDonald’s by 162.5% during the third quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock worth $26,000 after purchasing an additional 52 shares during the last quarter. Financial Gravity Companies Inc. purchased a new stake in McDonald’s in the second quarter valued at $29,000. Traub Capital Management LLC purchased a new stake in McDonald’s in the second quarter valued at $29,000. Davis Capital Management acquired a new stake in McDonald’s during the 3rd quarter worth about $37,000. Finally, Miller Wealth Advisors LLC acquired a new stake in McDonald’s during the 3rd quarter worth about $38,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 2,626 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $328.34, for a total value of $862,220.84. Following the transaction, the insider owned 8,733 shares in the company, valued at $2,867,393.22. This trade represents a 23.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jonathan Banner sold 6,201 shares of McDonald’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $333.29, for a total value of $2,066,731.29. Following the completion of the sale, the executive vice president directly owned 2,291 shares in the company, valued at $763,567.39. This represents a 73.02% 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 71,657 shares of company stock valued at $23,722,204. 0.25% of the stock is currently owned by corporate insiders.

McDonald’s Stock Performance

McDonald’s stock opened at $326.38 on Wednesday. The company’s fifty day moving average price is $321.29 and its 200 day moving average price is $311.70. McDonald’s Corporation has a 1 year low of $283.47 and a 1 year high of $341.75. The stock has a market capitalization of $231.86 billion, a P/E ratio of 27.31, a P/E/G ratio of 2.90 and a beta of 0.51.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, February 11th. The fast-food giant reported $3.12 earnings per share for the quarter, topping analysts’ consensus estimates of $3.05 by $0.07. The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.81 billion. McDonald’s had a net margin of 31.85% and a negative return on equity of 343.90%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.83 earnings per share. Sell-side analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd were paid a $1.86 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $7.44 dividend on an annualized basis and a yield of 2.3%. McDonald’s’s dividend payout ratio (DPR) is currently 62.26%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MCD. BTIG Research boosted their price objective on McDonald’s from $360.00 to $370.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Wells Fargo & Company raised their target price on McDonald’s from $345.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. TD Cowen reiterated a “hold” rating and set a $320.00 price target on shares of McDonald’s in a research report on Thursday, February 12th. Guggenheim decreased their price target on McDonald’s from $325.00 to $320.00 and set a “neutral” rating for the company in a report on Friday, February 13th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $340.00 price objective on shares of McDonald’s in a research note on Thursday, February 12th. Seventeen research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $339.69.

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.