Granite Bay Wealth Management LLC Buys 33 Shares of McDonald’s Co. (NYSE:MCD)

Granite Bay Wealth Management LLC grew its stake in McDonald’s Co. (NYSE:MCD) by 3.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 988 shares of the fast-food giant’s stock after purchasing an additional 33 shares during the quarter. Granite Bay Wealth Management LLC’s holdings in McDonald’s were worth $309,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mascagni Wealth Management Inc. bought a new position in shares of McDonald’s in the fourth quarter valued at about $25,000. Atala Financial Inc bought a new position in shares of McDonald’s in the fourth quarter valued at about $26,000. Comprehensive Financial Planning Inc. PA bought a new position in McDonald’s during the fourth quarter worth about $27,000. Collier Financial bought a new position in McDonald’s during the fourth quarter worth about $29,000. Finally, Pinney & Scofield Inc. bought a new position in McDonald’s during the fourth quarter worth about $29,000. 70.29% of the stock is owned by institutional investors.

McDonald’s Trading Down 0.0%

MCD opened at $312.68 on Wednesday. The company’s 50 day moving average is $312.39 and its 200-day moving average is $302.27. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $326.32. The company has a market cap of $223.57 billion, a P/E ratio of 27.45, a PEG ratio of 3.10 and a beta of 0.56.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.67. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. During the same period last year, the company posted $2.70 EPS. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, equities analysts forecast that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $1.77 dividend. The ex-dividend date is Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.26%. McDonald’s’s payout ratio is currently 62.49%.

Insider Activity

In other news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $315.07, for a total value of $295,850.73. Following the sale, the insider now directly owns 11,161 shares in the company, valued at approximately $3,516,496.27. This trade represents a 7.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on MCD shares. Citigroup raised their price target on shares of McDonald’s from $353.00 to $364.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. BTIG Research reaffirmed a “neutral” rating on shares of McDonald’s in a research report on Tuesday, April 22nd. Erste Group Bank lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 24th. TD Securities reaffirmed a “hold” rating and set a $300.00 price target on shares of McDonald’s in a research report on Monday, February 10th. Finally, Morgan Stanley lowered their price target on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. Twelve investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and an average price target of $325.91.

McDonald’s Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.