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

SteelPeak Wealth LLC raised its holdings in McDonald’s Co. (NYSE:MCD) by 40.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,158 shares of the fast-food giant’s stock after purchasing an additional 2,341 shares during the period. SteelPeak Wealth LLC’s holdings in McDonald’s were worth $2,300,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of MCD. Signature Resources Capital Management LLC purchased a new position in shares of McDonald’s during the fourth quarter valued at approximately $31,000. Spartan Planning & Wealth Management purchased a new position in shares of McDonald’s during the third quarter valued at approximately $33,000. Clear Investment Research LLC purchased a new position in shares of McDonald’s during the fourth quarter valued at approximately $38,000. Atlantic Edge Private Wealth Management LLC purchased a new position in McDonald’s during the fourth quarter worth approximately $39,000. Finally, Keener Financial Planning LLC purchased a new position in McDonald’s during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MCD. Wedbush cut their price target on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. UBS Group cut their price target on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Truist Financial cut their price target on shares of McDonald’s from $337.00 to $320.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Bank of America dropped their price objective on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating for the company in a research report on Tuesday, May 28th. Finally, Stifel Nicolaus dropped their price objective on shares of McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $315.14.

McDonald’s Price Performance

NYSE MCD opened at $254.84 on Monday. The company’s 50 day simple moving average is $263.31 and its 200 day simple moving average is $279.07. McDonald’s Co. has a 12 month low of $245.73 and a 12 month high of $302.39. The company has a market capitalization 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 quarterly 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). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the prior year, the firm earned $2.63 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. On average, analysts anticipate that McDonald’s Co. will post 12.19 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.62%. McDonald’s’s dividend payout ratio is currently 56.71%.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the sale, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total transaction of $291,377.87. Following the completion of the sale, the insider now owns 15,878 shares in the company, valued at approximately $4,209,734.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the sale, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. Insiders have sold 4,095 shares of company stock worth $1,100,625 over the last 90 days. 0.23% of the stock is owned by company insiders.

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.