McDonald’s Co. (NYSE:MCD) Shares Purchased by Iron Horse Wealth Management LLC

Iron Horse Wealth Management LLC grew its holdings in shares of McDonald’s Co. (NYSE:MCD) by 31.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 269 shares of the fast-food giant’s stock after purchasing an additional 65 shares during the period. Iron Horse Wealth Management LLC’s holdings in McDonald’s were worth $76,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Roffman Miller Associates Inc. PA lifted its position in shares of McDonald’s by 1.7% during the fourth quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant’s stock worth $46,179,000 after purchasing an additional 2,546 shares in the last quarter. Shulman DeMeo Asset Management LLC increased its position in shares of McDonald’s by 12.2% in the 4th quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock worth $312,000 after purchasing an additional 114 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of McDonald’s in the 4th quarter valued at about $4,286,000. Strait & Sound Wealth Management LLC bought a new position in shares of McDonald’s during the fourth quarter worth about $211,000. Finally, First National Bank of Mount Dora Trust Investment Services increased its holdings in McDonald’s by 2.8% in the fourth 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 during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the transaction, the insider now owns 14,780 shares in the company, valued at approximately $3,842,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the transaction, the executive vice president now 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 can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the sale, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,095 shares of company stock worth $1,100,625. 0.23% of the stock is currently owned by insiders.

McDonald’s Trading Down 1.3 %

Shares of MCD traded down $3.33 during mid-day trading on Friday, reaching $254.84. The company’s stock had a trading volume of 8,958,712 shares, compared to its average volume of 3,556,529. The business has a 50-day simple moving average of $263.31 and a two-hundred day simple moving average of $279.19. McDonald’s Co. has a 1-year low of $245.73 and a 1-year high of $302.39. The stock has a market cap of $183.66 billion, a P/E ratio of 21.63, a PEG ratio of 2.87 and a beta of 0.71.

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

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders 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 annualized dividend and a dividend yield of 2.62%. McDonald’s’s payout ratio is 56.71%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MCD shares. Truist Financial reduced their price objective on McDonald’s from $337.00 to $320.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Evercore ISI reaffirmed an “outperform” rating and issued a $330.00 price objective on shares of McDonald’s in a report on Wednesday, March 27th. Robert W. Baird reduced their price target on shares of McDonald’s from $305.00 to $300.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Citigroup lowered their price objective on shares of McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Finally, UBS Group cut their target price on McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a research 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $315.14.

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.