4,809 McDonald’s Corporation $MCD Shares Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC grew its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 1,054.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,265 shares of the fast-food giant’s stock after purchasing an additional 4,809 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in McDonald’s were worth $1,216,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in shares of McDonald’s during the 2nd quarter valued at approximately $1,359,276,000. Bessemer Group Inc. boosted its holdings in McDonald’s by 132.1% in the 1st quarter. Bessemer Group Inc. now owns 1,325,880 shares of the fast-food giant’s stock worth $412,071,000 after buying an additional 754,596 shares during the period. State Street Corp grew its stake in McDonald’s by 1.8% in the 2nd quarter. State Street Corp now owns 36,080,505 shares of the fast-food giant’s stock valued at $9,752,921,000 after buying an additional 646,675 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in McDonald’s by 17.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,637,785 shares of the fast-food giant’s stock valued at $1,130,587,000 after buying an additional 533,448 shares in the last quarter. Finally, Ascentis Wealth Management LLC grew its stake in McDonald’s by 23,222.1% in the 2nd quarter. Ascentis Wealth Management LLC now owns 478,103 shares of the fast-food giant’s stock valued at $129,236,000 after buying an additional 476,053 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MCD. Loop Capital lowered their target price on shares of McDonald’s from $301.00 to $273.00 and set a “hold” rating on the stock in a report on Wednesday, August 5th. Piper Sandler set a $286.00 price target on McDonald’s in a report on Tuesday, August 4th. Argus reduced their price target on McDonald’s from $320.00 to $310.00 and set a “buy” rating for the company in a research report on Wednesday, August 26th. Royal Bank Of Canada decreased their price objective on McDonald’s from $290.00 to $285.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 24th. Finally, Needham & Company LLC reissued a “buy” rating on shares of McDonald’s in a report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $293.21.

McDonald’s Price Performance

NYSE MCD opened at $280.20 on Thursday. McDonald’s Corporation has a 1 year low of $229.20 and a 1 year high of $341.75. The stock has a market capitalization of $198.28 billion, a PE ratio of 22.76, a P/E/G ratio of 3.01 and a beta of 0.42. The company’s 50 day simple moving average is $248.20 and its two-hundred day simple moving average is $282.85.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Wednesday, November 4th. The fast-food giant reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.38 by $0.19. The firm had revenue of $7.16 billion during the quarter, compared to analyst estimates of $7.28 billion. McDonald’s had a net margin of 31.72% and a negative return on equity of 572.06%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.22 EPS. On average, research analysts anticipate that McDonald’s Corporation will post 12.82 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a dividend of $1.93 per share. This is a positive change from McDonald’s’s previous quarterly dividend of $1.86. This represents a $7.72 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, December 1st. McDonald’s’s dividend payout ratio is 60.44%.

More McDonald’s News

Here are the key news stories impacting McDonald’s this week:

• Positive Sentiment: Third-quarter adjusted EPS was $3.57, above the $3.38 analyst estimate, with stronger franchised margins contributing. Global comparable sales rose 1.5%, led by international markets. McDonald’s Q3 Earnings Beat on Franchised Margins, Revenues Miss
• Positive Sentiment: Management says U.S. sales improved as the quarter progressed and is planning more affordable bundles, digital deals, and other value initiatives to attract budget-conscious customers. Investors may view these plans as a path to a domestic rebound. McDonald’s Puts Focus on Entry-Level Value to Lift Sluggish Sales
• Neutral Sentiment: Holiday drink offerings and a Pokémon Happy Meal promotion add seasonal marketing opportunities, though their impact on overall sales is uncertain. McDonald’s Pokémon Happy Meal Returns Nov. 10 With Cards
• Negative Sentiment: Revenue of $7.16 billion fell short of expectations near $7.28 billion. U.S. comparable sales declined 0.2%—the first drop in six quarters—as customers facing high living costs pulled back and restaurant traffic weakened. McDonald’s US sales decline for first time in six quarters despite value push
• Negative Sentiment: Value promotions may pressure economics and come amid reported tensions with franchisees. Separately, a judge allowed a lawsuit challenging McRib marketing to proceed, creating a potential legal and reputational overhang. McDonald’s facing lawsuit over meat in cult-favorite sandwich

McDonald’s Profile

McDonald’s Corporation is a global quick-service restaurant company that operates and franchises restaurants under the McDonald’s brand. Its restaurants serve a menu that includes hamburgers, cheeseburgers, chicken sandwiches, French fries, breakfast items, desserts, salads, beverages and coffee. Offerings vary by market, and many locations provide drive-thru service, delivery and digital ordering through the McDonald’s mobile app.

The company operates through a heavily franchised business model, with restaurants owned and operated by independent franchisees, affiliates and the company itself.