Allworth Financial LP Boosts Position in McDonald’s Corporation $MCD

Allworth Financial LP raised its position in McDonald’s Corporation (NYSE:MCDFree Report) by 3.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 58,577 shares of the fast-food giant’s stock after purchasing an additional 2,020 shares during the period. Allworth Financial LP’s holdings in McDonald’s were worth $17,801,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its stake in McDonald’s by 21.6% in the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock valued at $2,692,000 after acquiring an additional 1,649 shares during the last quarter. Revolve Wealth Partners LLC raised its position in McDonald’s by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock worth $563,000 after acquiring an additional 52 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of McDonald’s by 11.4% in the second quarter. Sivia Capital Partners LLC now owns 2,017 shares of the fast-food giant’s stock valued at $589,000 after purchasing an additional 206 shares in the last quarter. United Bank lifted its holdings in shares of McDonald’s by 6.0% in the second quarter. United Bank now owns 8,102 shares of the fast-food giant’s stock valued at $2,367,000 after purchasing an additional 459 shares in the last quarter. Finally, Schnieders Capital Management LLC. grew its position in shares of McDonald’s by 2.5% in the second quarter. Schnieders Capital Management LLC. now owns 12,938 shares of the fast-food giant’s stock valued at $3,780,000 after purchasing an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Jonathan Banner sold 6,201 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $333.29, for a total value of $2,066,731.29. Following the completion of the transaction, the executive vice president directly owned 2,291 shares in the company, valued at approximately $763,567.39. This represents a 73.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 2,626 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $328.34, for a total value of $862,220.84. Following the transaction, the insider owned 8,733 shares in the company, valued at $2,867,393.22. This trade represents a 23.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 71,657 shares of company stock worth $23,722,204 in the last three months. Company insiders own 0.25% of the company’s stock.

More McDonald’s News

Here are the key news stories impacting McDonald’s this week:

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of McDonald’s in a research note on Wednesday, January 28th. UBS Group increased their target price on McDonald’s from $350.00 to $365.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Truist Financial raised their price target on McDonald’s from $356.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Argus raised McDonald’s from a “hold” rating to a “buy” rating and set a $380.00 price target for the company in a report on Friday, February 13th. Finally, Erste Group Bank upgraded McDonald’s from a “hold” rating to a “buy” rating in a research report on Wednesday, February 18th. Seventeen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, McDonald’s currently has an average rating of “Hold” and a consensus price target of $339.69.

Check Out Our Latest Report on MCD

McDonald’s Stock Performance

Shares of MCD opened at $309.89 on Friday. McDonald’s Corporation has a 1 year low of $283.47 and a 1 year high of $341.75. The company’s 50 day simple moving average is $321.55 and its 200 day simple moving average is $311.72. The company has a market capitalization of $220.14 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 2.81 and a beta of 0.51.

McDonald’s (NYSE:MCDGet Free Report) last released its earnings results on Wednesday, February 11th. The fast-food giant reported $3.12 EPS for the quarter, topping the consensus estimate of $3.05 by $0.07. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.81 billion. McDonald’s had a net margin of 31.85% and a negative return on equity of 343.90%. McDonald’s’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.83 EPS. Equities analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd were given a $1.86 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. McDonald’s’s payout ratio is currently 62.26%.

McDonald’s Profile

(Free Report)

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.

See Also

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

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