Congress Wealth Management LLC DE Has $15.95 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Congress Wealth Management LLC DE lifted its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,553 shares of the fast-food giant’s stock after purchasing an additional 1,586 shares during the period. Congress Wealth Management LLC DE’s holdings in McDonald’s were worth $15,945,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Independent Wealth Network Inc. lifted its position in shares of McDonald’s by 4.2% in the fourth quarter. Independent Wealth Network Inc. now owns 863 shares of the fast-food giant’s stock worth $256,000 after buying an additional 35 shares in the last quarter. Concentric Wealth Management LLC raised its position in McDonald’s by 1.4% during the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after purchasing an additional 35 shares during the period. Paragon Capital Management Ltd raised its position in McDonald’s by 2.7% during the fourth quarter. Paragon Capital Management Ltd now owns 1,374 shares of the fast-food giant’s stock valued at $407,000 after purchasing an additional 36 shares during the period. Mechanics Financial Corp raised its position in McDonald’s by 0.7% during the fourth quarter. Mechanics Financial Corp now owns 5,331 shares of the fast-food giant’s stock valued at $1,581,000 after purchasing an additional 36 shares during the period. Finally, FinTrust Capital Advisors LLC raised its position in McDonald’s by 2.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock valued at $376,000 after purchasing an additional 36 shares during the period. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

MCD stock traded down $4.85 during midday trading on Monday, reaching $249.99. The stock had a trading volume of 3,737,323 shares, compared to its average volume of 3,433,084. The stock has a market cap of $180.16 billion, a PE ratio of 21.21, a P/E/G ratio of 2.87 and a beta of 0.71. The firm has a fifty day simple moving average of $263.31 and a two-hundred day simple moving average of $279.07. McDonald’s Co. has a 52-week low of $245.73 and a 52-week high of $302.39.

McDonald’s (NYSE:MCD) last issued its earnings results 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 firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.16 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $2.63 EPS. On average, sell-side analysts predict that McDonald’s Co. will post 12.19 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $1.67 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Insiders Place Their Bets

In other McDonald’s news, 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 transaction of $220,016.00. Following the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $5,225.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Jonathan Banner sold 800 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the sale, the executive vice president now directly owns 19 shares in the company, valued at approximately $5,225.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total value of $291,377.87. Following the sale, the insider now owns 15,878 shares in the company, valued at $4,209,734.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,095 shares of company stock valued at $1,100,625. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Stifel Nicolaus decreased their price objective on McDonald’s from $315.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Guggenheim cut their target price on McDonald’s from $325.00 to $315.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Bank of America cut their target price on McDonald’s from $302.00 to $288.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 28th. Morgan Stanley dropped their price objective on McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Finally, Truist Financial dropped their price objective on McDonald’s from $337.00 to $320.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $315.14.

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.