Wedgewood Investors Inc. PA Purchases New Holdings in McDonald’s Co. (NYSE:MCD)

Wedgewood Investors Inc. PA acquired a new stake in McDonald’s Co. (NYSE:MCD) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,103 shares of the fast-food giant’s stock, valued at approximately $536,000.

Other large investors have also recently made changes to their positions in the company. Concentric Wealth Management LLC boosted its stake in McDonald’s by 1.4% in the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after acquiring an additional 35 shares during the last quarter. Mechanics Financial Corp grew its holdings 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. FinTrust Capital Advisors LLC increased its position in McDonald’s by 2.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock worth $376,000 after buying an additional 36 shares during the last quarter. 9258 Wealth Management LLC increased its position in McDonald’s by 1.3% in the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock worth $799,000 after buying an additional 37 shares during the last quarter. Finally, ICW Investment Advisors LLC lifted its position in shares of McDonald’s by 0.4% during the 4th quarter. ICW Investment Advisors LLC now owns 9,548 shares of the fast-food giant’s stock valued at $2,831,000 after buying an additional 38 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The disclosure for this sale can be found here. Insiders sold a total of 4,793 shares of company stock worth $1,260,106 over the last quarter. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Barclays dropped their price target on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Truist Financial reduced their price objective on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Wedbush restated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Monday, July 29th. Finally, Loop Capital reduced their price target on McDonald’s from $357.00 to $342.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and an average price target of $303.71.

McDonald’s Stock Performance

MCD traded up $0.31 on Friday, hitting $289.52. 2,145,946 shares of the company were exchanged, compared to its average volume of 3,554,448. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39. The firm has a fifty day simple moving average of $262.15 and a two-hundred day simple moving average of $270.79. The stock has a market capitalization of $208.65 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 3.58 and a beta of 0.71.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.17 EPS. On average, equities analysts expect that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.31%. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

About McDonald’s

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.