Maridea Wealth Management LLC Has $968,000 Position in McDonald’s Corporation $MCD

Maridea Wealth Management LLC increased its stake in McDonald’s Corporation (NYSE:MCD) by 36.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,312 shares of the fast-food giant’s stock after purchasing an additional 880 shares during the quarter. Maridea Wealth Management LLC’s holdings in McDonald’s were worth $968,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Mascagni Wealth Management Inc. bought a new position in McDonald’s in the 4th quarter worth approximately $25,000. HFM Investment Advisors LLC bought a new position in McDonald’s in the 1st quarter worth approximately $26,000. Nova Wealth Management Inc. bought a new position in McDonald’s in the 1st quarter worth approximately $26,000. Abound Financial LLC bought a new position in McDonald’s in the 1st quarter worth approximately $30,000. Finally, Copia Wealth Management bought a new position in McDonald’s in the 4th quarter worth approximately $31,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McDonald’s

In related news, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president directly owned 99 shares in the company, valued at $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider directly owned 9,283 shares of the company’s stock, valued at $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,402 shares of company stock worth $2,273,407 in the last ninety days. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MCD shares. TD Securities restated a “hold” rating and set a $305.00 price objective on shares of McDonald’s in a research report on Thursday, June 5th. Piper Sandler boosted their price objective on McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. TD Cowen boosted their price objective on McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, August 6th. Melius started coverage on McDonald’s in a research report on Monday, July 14th. They set a “sell” rating and a $250.00 price objective on the stock. Finally, Truist Financial boosted their price objective on McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Eleven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $325.86.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $304.34 on Thursday. The business’s fifty day moving average price is $306.27 and its two-hundred day moving average price is $306.25. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The stock has a market capitalization of $217.18 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 3.09 and a beta of 0.50.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the prior year, the business posted $2.97 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. Research 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, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $1.77 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. McDonald’s’s payout ratio is currently 60.67%.

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.