Leo Wealth LLC Buys New Position in McDonald’s Co. (NYSE:MCD)

Leo Wealth LLC bought a new stake in shares of McDonald’s Co. (NYSE:MCD) during the 4th quarter, Holdings Channel reports. The institutional investor bought 3,355 shares of the fast-food giant’s stock, valued at approximately $993,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Financial Engines Advisors L.L.C. increased its holdings in shares of McDonald’s by 47.2% in the third quarter. Financial Engines Advisors L.L.C. now owns 1,191 shares of the fast-food giant’s stock valued at $314,000 after purchasing an additional 382 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of McDonald’s in the third quarter valued at about $6,110,000. Envestnet Asset Management Inc. increased its holdings in shares of McDonald’s by 20.5% in the third quarter. Envestnet Asset Management Inc. now owns 991,646 shares of the fast-food giant’s stock valued at $261,239,000 after purchasing an additional 168,622 shares during the period. TRUE Private Wealth Advisors increased its holdings in shares of McDonald’s by 3.6% in the third quarter. TRUE Private Wealth Advisors now owns 2,694 shares of the fast-food giant’s stock valued at $710,000 after purchasing an additional 93 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in shares of McDonald’s in the third quarter valued at about $1,015,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MCD. Bank of America reduced their price target on McDonald’s from $302.00 to $288.00 and set a “neutral” rating for the company in a research report on Tuesday, May 28th. Guggenheim lowered their price target on shares of McDonald’s from $325.00 to $315.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. UBS Group decreased their price objective on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Wedbush lowered their price target on McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Finally, Morgan Stanley decreased their target price on McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $315.14.

McDonald’s Trading Down 0.0 %

Shares of NYSE:MCD opened at $253.51 on Tuesday. The business has a 50-day moving average price of $265.62 and a 200 day moving average price of $281.12. The company has a market capitalization of $182.70 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 2.86 and a beta of 0.72. McDonald’s Co. has a 12-month low of $245.73 and a 12-month high of $302.39.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.16 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.63 earnings per share. As a group, equities research analysts predict that McDonald’s Co. will post 12.17 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.64%. The ex-dividend date was Monday, June 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the transaction, the insider now owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at $5,225.38. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the transaction, the insider now directly owns 18,075 shares in the company, valued at approximately $5,140,168.50. The disclosure for this sale can be found here. Insiders sold a total of 4,096 shares of company stock valued at $1,127,678 in the last three months. 0.23% of the stock is owned by corporate insiders.

McDonald’s Profile

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.