SteelPeak Wealth LLC Acquires 2,341 Shares of McDonald’s Co. (NYSE:MCD)

SteelPeak Wealth LLC lifted its position in shares of McDonald’s Co. (NYSE:MCD) by 40.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 8,158 shares of the fast-food giant’s stock after acquiring an additional 2,341 shares during the quarter. SteelPeak Wealth LLC’s holdings in McDonald’s were worth $2,300,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LaSalle St. Investment Advisors LLC raised its holdings in shares of McDonald’s by 3.0% in the 3rd quarter. LaSalle St. Investment Advisors LLC now owns 1,660 shares of the fast-food giant’s stock valued at $437,000 after acquiring an additional 48 shares in the last quarter. First Dallas Securities Inc. lifted its position in McDonald’s by 3.9% in the 3rd quarter. First Dallas Securities Inc. now owns 4,354 shares of the fast-food giant’s stock worth $1,147,000 after buying an additional 163 shares during the last quarter. Waverly Advisors LLC lifted its position in McDonald’s by 8.4% in the 3rd quarter. Waverly Advisors LLC now owns 4,957 shares of the fast-food giant’s stock worth $1,306,000 after buying an additional 383 shares during the last quarter. United Services Automobile Association lifted its position in McDonald’s by 12.6% in the 3rd quarter. United Services Automobile Association now owns 19,744 shares of the fast-food giant’s stock worth $5,201,000 after buying an additional 2,204 shares during the last quarter. Finally, Logan Capital Management Inc. lifted its position in McDonald’s by 18.0% in the 3rd quarter. Logan Capital Management Inc. now owns 40,623 shares of the fast-food giant’s stock worth $10,702,000 after buying an additional 6,211 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

MCD has been the subject of a number of recent research reports. Morgan Stanley dropped their target price on McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Citigroup lowered their price objective on McDonald’s from $312.00 to $297.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Wedbush reduced their target price on McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. TD Cowen reissued a “buy” rating and set a $305.00 target price on shares of McDonald’s in a research note on Thursday, June 13th. Finally, JPMorgan Chase & Co. boosted their target price on McDonald’s from $290.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, June 3rd. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $315.14.

McDonald’s Stock Performance

MCD stock opened at $254.84 on Monday. McDonald’s Co. has a fifty-two week low of $245.73 and a fifty-two week high of $302.39. The business’s 50-day moving average is $263.31 and its two-hundred day moving average is $279.07. The company has a market cap of $183.66 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 2.87 and a beta of 0.71.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same period in the prior year, the company posted $2.63 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. Equities analysts predict that McDonald’s Co. will post 12.19 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Monday, June 3rd. McDonald’s’s payout ratio is 56.71%.

Insiders Place Their Bets

In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the sale, the executive vice president now owns 19 shares in the company, valued at $5,225.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan Banner sold 800 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the sale, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $5,225.38. The disclosure for this sale can be found here. Insiders sold a total of 4,095 shares of company stock worth $1,100,625 over the last quarter. 0.23% of the stock is currently 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.