Naviter Wealth LLC Makes New $1.36 Million Investment in McDonald’s Co. (NYSE:MCD)

Naviter Wealth LLC bought a new position in shares of McDonald’s Co. (NYSE:MCD) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,839 shares of the fast-food giant’s stock, valued at approximately $1,364,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Roffman Miller Associates Inc. PA grew its holdings in McDonald’s by 1.7% during the 4th quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant’s stock valued at $46,179,000 after buying an additional 2,546 shares in the last quarter. Shulman DeMeo Asset Management LLC grew its holdings in McDonald’s by 12.2% during the 4th quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock valued at $312,000 after buying an additional 114 shares in the last quarter. Aigen Investment Management LP purchased a new stake in McDonald’s during the 4th quarter valued at approximately $4,286,000. Strait & Sound Wealth Management LLC purchased a new stake in McDonald’s during the 4th quarter valued at approximately $211,000. Finally, First National Bank of Mount Dora Trust Investment Services grew its holdings in McDonald’s by 2.8% during the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock valued at $3,269,000 after buying an additional 301 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s 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 sale, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Jonathan Banner sold 800 shares of the company’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 sale, the executive vice president now owns 19 shares in the company, valued at $5,225.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares in the company, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. Insiders have sold 4,095 shares of company stock worth $1,100,625 over the last quarter. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MCD shares. Wedbush cut their price objective on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Bank of America cut their target price on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating for the company in a report on Tuesday, May 28th. Truist Financial cut their target price on shares of McDonald’s from $337.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. The Goldman Sachs Group started coverage on shares of McDonald’s in a report on Thursday, June 13th. They issued a “neutral” rating and a $288.00 target price for the company. Finally, UBS Group cut their target price on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a report on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.89.

McDonald’s Price Performance

MCD stock opened at $247.79 on Wednesday. The business has a 50-day moving average price of $262.80 and a 200 day moving average price of $278.79. The company has a market capitalization of $178.58 billion, a P/E ratio of 21.03, a PEG ratio of 2.87 and a beta of 0.71. McDonald’s Co. has a 1-year low of $245.73 and a 1-year high of $302.39.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter last year, the firm earned $2.63 EPS. McDonald’s’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, analysts anticipate that McDonald’s Co. will post 12.19 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $1.67 dividend. The ex-dividend date was Monday, June 3rd. This represents a $6.68 annualized dividend and a yield of 2.70%. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

McDonald’s Company 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.