SkyOak Wealth LLC Acquires 56 Shares of McDonald’s Corporation (NYSE:MCD)

by · The Markets Daily

SkyOak Wealth LLC boosted its stake in shares of McDonald’s Corporation (NYSE:MCD – Free Report) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,728 shares of the fast-food giant’s stock after purchasing an additional 56 shares during the quarter. SkyOak Wealth LLC’s holdings in McDonald’s were worth $2,102,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MCD. Riversedge Advisors LLC boosted its stake in McDonald’s by 14.9% in the 1st quarter. Riversedge Advisors LLC now owns 2,038 shares of the fast-food giant’s stock valued at $637,000 after purchasing an additional 265 shares during the period. IFC Advisors LLC increased its holdings in shares of McDonald’s by 0.5% during the first quarter. IFC Advisors LLC now owns 7,709 shares of the fast-food giant’s stock worth $2,408,000 after purchasing an additional 37 shares during the period. Lane & Associates LLC raised its position in shares of McDonald’s by 11.9% in the first quarter. Lane & Associates LLC now owns 1,045 shares of the fast-food giant’s stock valued at $326,000 after buying an additional 111 shares in the last quarter. Austin Wealth Management LLC boosted its stake in shares of McDonald’s by 22.8% in the first quarter. Austin Wealth Management LLC now owns 1,087 shares of the fast-food giant’s stock valued at $344,000 after buying an additional 202 shares during the period. Finally, Callahan Advisors LLC grew its position in McDonald’s by 0.6% during the first quarter. Callahan Advisors LLC now owns 60,175 shares of the fast-food giant’s stock worth $18,797,000 after buying an additional 365 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief marketing officer owned 8,858 shares in the company, valued at approximately $2,657,400. This represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $288.52, for a total transaction of $270,920.28. Following the sale, the insider owned 10,222 shares of the company’s stock, valued at $2,949,251.44. This trade represents a 8.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,817 shares of company stock worth $1,165,843 over the last quarter. Company insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE MCD opened at $299.80 on Friday. The company has a 50-day moving average price of $304.11 and a 200-day moving average price of $302.48. The stock has a market capitalization of $214.37 billion, a P/E ratio of 26.46, a P/E/G ratio of 3.11 and a beta of 0.53. McDonald’s Corporation has a 1 year low of $246.12 and a 1 year high of $326.32.

McDonald’s (NYSE:MCD – Get Free Report) last announced its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.67. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. McDonald’s had a negative return on equity of 195.27% and a net margin of 31.75%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.70 EPS. As a group, equities research analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald’s’s dividend payout ratio is presently 62.49%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MCD shares. Robert W. Baird upped their target price on McDonald’s from $300.00 to $315.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Barclays raised their target price on shares of McDonald’s from $347.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $345.00 price target (up previously from $340.00) on shares of McDonald’s in a research report on Monday, May 5th. Piper Sandler raised their target price on McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Finally, Morgan Stanley restated an “equal weight” rating and set a $324.00 price objective (down from $329.00) on shares of McDonald’s in a research report on Monday, June 9th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, McDonald’s currently has an average rating of “Hold” and an average target price of $322.29.

Get Our Latest Stock Analysis on MCD

About McDonald’s

(Free Report)

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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