Wambolt & Associates LLC Acquires 581 Shares of McDonald’s Co. (NYSE:MCD)

Wambolt & Associates LLC increased its stake in McDonald’s Co. (NYSE:MCD) by 5.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 10,770 shares of the fast-food giant’s stock after acquiring an additional 581 shares during the period. Wambolt & Associates LLC’s holdings in McDonald’s were worth $2,692,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MCD. Gilbert & Cook Inc. raised its stake in shares of McDonald’s by 20.7% in the fourth quarter. Gilbert & Cook Inc. now owns 4,384 shares of the fast-food giant’s stock valued at $1,300,000 after acquiring an additional 753 shares during the period. Aveo Capital Partners LLC raised its position in McDonald’s by 14.5% in the 4th quarter. Aveo Capital Partners LLC now owns 1,899 shares of the fast-food giant’s stock worth $563,000 after purchasing an additional 240 shares during the period. 9258 Wealth Management LLC lifted its stake in McDonald’s by 4.2% in the fourth quarter. 9258 Wealth Management LLC now owns 2,796 shares of the fast-food giant’s stock worth $829,000 after purchasing an additional 113 shares during the last quarter. Gryphon Financial Partners LLC boosted its position in shares of McDonald’s by 99.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,892 shares of the fast-food giant’s stock valued at $1,722,000 after buying an additional 2,935 shares during the period. Finally, M&G Investment Management Ltd. bought a new position in shares of McDonald’s during the fourth quarter valued at approximately $8,449,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on MCD. Stifel Nicolaus dropped their price objective on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Bank of America lowered their target price on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. KeyCorp reduced their price target on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Truist Financial lowered 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 report on Tuesday, July 30th. Finally, Barclays reduced their target price on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $304.41.

McDonald’s Price Performance

McDonald’s stock opened at $290.14 on Thursday. The business has a fifty day moving average price of $271.14 and a 200-day moving average price of $270.66. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $302.39. The stock has a market capitalization of $209.10 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 3.87 and a beta of 0.72.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the prior year, the business posted $3.17 EPS. McDonald’s’s revenue was down .1% compared to the same quarter last year. On average, equities research analysts anticipate that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders 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 dividend on an annualized basis and a yield of 2.30%. McDonald’s’s payout ratio is 56.71%.

Insiders Place Their Bets

In related news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the sale, the insider now owns 13,681 shares in the company, valued at $3,557,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,291 shares of company stock valued at $1,689,073. Insiders own 0.23% of the company’s stock.

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.