Leelyn Smith LLC Purchases 454 Shares of McDonald’s Co. (NYSE:MCD)

23 Nov 2024, 17:14 by Kim Johansen · The Markets Daily

Leelyn Smith LLC boosted its position in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 2.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,191 shares of the fast-food giant’s stock after purchasing an additional 454 shares during the quarter. McDonald’s comprises 1.1% of Leelyn Smith LLC’s holdings, making the stock its 19th biggest position. Leelyn Smith LLC’s holdings in McDonald’s were worth $6,148,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCD. Kings Path Partners LLC bought a new stake in shares of McDonald’s during the second quarter worth approximately $38,000. Hara Capital LLC bought a new position in shares of McDonald’s in the 3rd quarter worth $44,000. Peterson Financial Group Inc. acquired a new position in shares of McDonald’s during the 3rd quarter worth about $58,000. Opal Wealth Advisors LLC bought a new stake in shares of McDonald’s in the 2nd quarter valued at about $59,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of McDonald’s in the 2nd quarter valued at approximately $65,000. 70.29% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the transaction, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This represents a 19.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $298.57, for a total value of $328,128.43. Following the sale, the insider now directly owns 11,484 shares of the company’s stock, valued at approximately $3,428,777.88. The trade was a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,498 shares of company stock valued at $10,381,296 over the last ninety days. 0.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MCD has been the topic of a number of recent analyst reports. KeyCorp lifted their price target on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wells Fargo & Company boosted their target price on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. BMO Capital Markets raised their price target on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Bank of America boosted their price objective on McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $319.46.

View Our Latest Report on MCD

McDonald’s Stock Performance

Shares of MCD stock opened at $290.30 on Friday. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The stock has a market cap of $208.03 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.84 and a beta of 0.74. The firm’s 50-day moving average is $299.85 and its 200-day moving average is $278.06.

McDonald’s (NYSE:MCD – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $3.19 earnings per share. Sell-side analysts predict that McDonald’s Co. will post 11.77 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 16th. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is currently 58.65%.

McDonald’s Company Profile

(Free Report)

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.