SteelPeak Wealth LLC Increases Stake in McDonald’s Co. (NYSE:MCD)

SteelPeak Wealth LLC raised its stake in shares of McDonald’s Co. (NYSE:MCDFree Report) by 242.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 25,762 shares of the fast-food giant’s stock after acquiring an additional 18,236 shares during the period. SteelPeak Wealth LLC’s holdings in McDonald’s were worth $7,845,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its holdings in shares of McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after purchasing an additional 2,311,721 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after purchasing an additional 2,193,769 shares in the last quarter. Swedbank AB purchased a new position in shares of McDonald’s in the first quarter valued at $348,206,000. Capital World Investors grew its holdings in shares of McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after purchasing an additional 1,012,534 shares in the last quarter. Finally, Mondrian Investment Partners LTD purchased a new position in shares of McDonald’s in the second quarter valued at $110,321,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the sale, the chief marketing officer now owns 2,905 shares in the company, valued at approximately $900,550. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,097 shares of company stock worth $10,256,818. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MCD shares. Jefferies Financial Group raised their target price on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Evercore ISI lifted their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Bank of America lifted their price objective on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Thirteen investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $318.74.

Read Our Latest Report on MCD

McDonald’s Price Performance

MCD stock opened at $291.64 on Thursday. The business has a 50-day moving average price of $298.19 and a 200 day moving average price of $275.47. The company has a market capitalization of $209.21 billion, a P/E ratio of 25.52, a PEG ratio of 4.13 and a beta of 0.73. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90.

McDonald’s (NYSE:MCDGet Free Report) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.19 earnings per share. On average, analysts anticipate that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.43%. McDonald’s’s payout ratio is currently 61.94%.

McDonald’s Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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