Warren Street Wealth Advisors LLC Takes Position in McDonald’s Co. (NYSE:MCD)
by Teresa Graham · The Cerbat GemWarren Street Wealth Advisors LLC purchased a new stake in McDonald’s Co. (NYSE:MCD – Free Report) during the first quarter, HoldingsChannel.com reports. The firm purchased 860 shares of the fast-food giant’s stock, valued at approximately $269,000.
A number of other institutional investors have also recently modified their holdings of the business. Mascagni Wealth Management Inc. purchased a new stake in shares of McDonald’s in the 4th quarter worth about $25,000. Atala Financial Inc purchased a new position in McDonald’s during the fourth quarter worth about $26,000. Comprehensive Financial Planning Inc. PA purchased a new position in McDonald’s during the fourth quarter worth about $27,000. Collier Financial purchased a new position in shares of McDonald’s in the 4th quarter worth about $29,000. Finally, Pinney & Scofield Inc. purchased a new position in shares of McDonald’s in the 4th quarter worth about $29,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $318.50, for a total transaction of $299,071.50. Following the completion of the transaction, the insider now directly owns 12,100 shares in the company, valued at approximately $3,853,850. This trade represents a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently issued reports on MCD. Piper Sandler increased their target price on McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Barclays lifted their target price on McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Citigroup raised their price target on McDonald’s from $353.00 to $364.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Morgan Stanley dropped their price objective on McDonald’s from $340.00 to $335.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. Finally, Robert W. Baird boosted their price objective on McDonald’s from $300.00 to $315.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Twelve investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $325.91.
McDonald’s Stock Down 0.2%
McDonald’s stock opened at $311.70 on Thursday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $326.32. The firm has a 50 day moving average price of $312.49 and a 200-day moving average price of $302.34. The company has a market capitalization of $222.88 billion, a P/E ratio of 27.37, a P/E/G ratio of 3.10 and a beta of 0.56.
McDonald’s (NYSE:MCD – Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting the consensus estimate of $2.67. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the firm earned $2.70 EPS. Equities analysts expect that McDonald’s Co. will post 12.25 EPS for the current fiscal year.
McDonald’s Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Monday, June 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 62.49%.
McDonald’s 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.
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