Magnolia Wealth Management LLC acquired a new stake in shares of McDonald’s Co. (NYSE:MCD – Get Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,170 shares of the fast-food giant’s stock, valued at approximately $4,535,000. McDonald’s accounts for approximately 0.3% of Magnolia Wealth Management LLC’s holdings, making the stock its 23rd largest position.
A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in McDonald’s by 1.6% during the first quarter. Vanguard Group Inc. now owns 67,004,180 shares of the fast-food giant’s stock valued at $16,568,793,000 after purchasing an additional 1,039,187 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of McDonald’s by 4.5% during the 4th quarter. BlackRock Inc. now owns 52,918,755 shares of the fast-food giant’s stock worth $14,185,930,000 after acquiring an additional 2,294,758 shares during the last quarter. State Street Corp lifted its holdings in shares of McDonald’s by 2.9% during the 4th quarter. State Street Corp now owns 36,973,382 shares of the fast-food giant’s stock worth $9,911,455,000 after acquiring an additional 1,033,751 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of McDonald’s by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 12,846,007 shares of the fast-food giant’s stock worth $3,435,310,000 after acquiring an additional 257,679 shares during the last quarter. Finally, Norges Bank bought a new stake in McDonald’s during the fourth quarter worth about $2,060,325,000. Institutional investors own 67.27% of the company’s stock.
McDonald’s Stock Performance
Shares of NYSE MCD opened at $254.33 on Wednesday. McDonald’s Co. has a fifty-two week low of $217.68 and a fifty-two week high of $271.15. The company has a 50 day simple moving average of $258.07 and a two-hundred day simple moving average of $248.77. The company has a market capitalization of $187.11 billion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 3.16 and a beta of 0.57.
McDonald’s (NYSE:MCD – Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The fast-food giant reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. McDonald’s had a negative return on equity of 129.90% and a net margin of 25.77%. The company had revenue of $5.72 billion during the quarter, compared to analyst estimates of $5.82 billion. During the same quarter last year, the company earned $2.37 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, analysts forecast that McDonald’s Co. will post 9.83 earnings per share for the current fiscal year.
McDonald’s Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Thursday, September 1st will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Wednesday, August 31st. McDonald’s’s dividend payout ratio (DPR) is currently 67.98%.
Insider Activity at McDonald’s
In related news, SVP Catherine A. Hoovel sold 2,371 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $255.62, for a total transaction of $606,075.02. Following the completion of the sale, the senior vice president now owns 1,184 shares of the company’s stock, valued at $302,654.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Catherine A. Hoovel sold 2,371 shares of McDonald’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $255.62, for a total value of $606,075.02. Following the completion of the sale, the senior vice president now directly owns 1,184 shares in the company, valued at approximately $302,654.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Enrique Hernandez, Jr. sold 4,500 shares of McDonald’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $264.02, for a total transaction of $1,188,090.00. The disclosure for this sale can be found here. Insiders sold 20,191 shares of company stock valued at $5,250,365 over the last 90 days. Corporate insiders own 0.18% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on the company. Tigress Financial lifted their price target on McDonald’s from $314.00 to $320.00 and gave the stock a “buy” rating in a research note on Tuesday, August 30th. Guggenheim boosted their price objective on shares of McDonald’s to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Piper Sandler boosted their price objective on shares of McDonald’s from $263.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, September 7th. Jefferies Financial Group reduced their price objective on McDonald’s from $306.00 to $298.00 and set a “buy” rating on the stock in a research note on Wednesday, July 27th. Finally, Sanford C. Bernstein began coverage on McDonald’s in a report on Wednesday, September 7th. They set a “market perform” rating and a $267.00 target price for the company. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $285.04.
McDonald’s Profile
McDonald’s Corporation operates and franchises McDonald’s restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.
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