Wellington Capital Management Inc. Invests $825,000 in McDonald’s Corporation $MCD

Wellington Capital Management Inc. purchased a new stake in shares of McDonald’s Corporation (NYSE:MCD) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 2,822 shares of the fast-food giant’s stock, valued at approximately $825,000. McDonald’s comprises 1.2% of Wellington Capital Management Inc.’s portfolio, making the stock its 20th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Decker Retirement Planning Inc. lifted its holdings in shares of McDonald’s by 142.9% during the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in McDonald’s during the 2nd quarter valued at approximately $25,000. HFM Investment Advisors LLC purchased a new position in McDonald’s during the first quarter valued at $26,000. Nova Wealth Management Inc. purchased a new position in shares of McDonald’s in the 1st quarter worth about $26,000. Finally, GFG Capital LLC bought a new position in McDonald’s in the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Up 2.3%

Shares of NYSE:MCD opened at $316.84 on Friday. The company has a market capitalization of $225.64 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 3.52 and a beta of 0.52. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The firm’s 50-day moving average is $304.98 and its 200 day moving average is $303.70.

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

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.3%. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. McDonald’s’s dividend payout ratio is currently 63.48%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Truist Financial decreased their target price 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. BMO Capital Markets reissued an “outperform” rating on shares of McDonald’s in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a research report on Friday, October 31st. Citigroup cut their target price on McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, October 21st. Finally, KeyCorp restated an “overweight” rating and issued a $335.00 price target on shares of McDonald’s in a research note on Monday, October 20th. Eleven analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, McDonald’s has an average rating of “Hold” and an average target price of $324.57.

Insider Activity

In other McDonald’s news, CFO Ian Frederick Borden sold 17,134 shares of McDonald’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the completion of the sale, the chief financial officer owned 26,353 shares of the company’s stock, valued at approximately $8,169,430. The trade was a 39.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Manuel Jm Steijaert sold 6,567 shares of the 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 in the company, valued at $1,407,133. This represents a 58.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,030 shares of company stock valued at $12,240,570 over the last ninety days. 0.25% of the stock is currently owned by insiders.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.