Sagespring Wealth Partners LLC Raises Position in McDonald’s Corporation $MCD

Sagespring Wealth Partners LLC lifted its stake in McDonald’s Corporation (NYSE:MCD) by 12.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,435 shares of the fast-food giant’s stock after purchasing an additional 2,209 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in McDonald’s were worth $5,678,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. WealthPlan Investment Management LLC grew its stake in shares of McDonald’s by 0.9% during the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock valued at $1,134,000 after buying an additional 32 shares during the last quarter. Consilium Wealth Advisory LLC grew its position in shares of McDonald’s by 2.5% during the 1st quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant’s stock worth $417,000 after buying an additional 33 shares in the last quarter. Security Financial Services INC. increased its stake in shares of McDonald’s by 0.7% during the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock valued at $1,575,000 after buying an additional 33 shares during the period. Stockman Wealth Management Inc. raised its holdings in shares of McDonald’s by 1.8% in the first quarter. Stockman Wealth Management Inc. now owns 1,964 shares of the fast-food giant’s stock valued at $613,000 after acquiring an additional 34 shares in the last quarter. Finally, Ascent Wealth Partners LLC raised its holdings in shares of McDonald’s by 0.3% in the first quarter. Ascent Wealth Partners LLC now owns 11,588 shares of the fast-food giant’s stock valued at $3,620,000 after acquiring an additional 34 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $300.10 on Tuesday. The business’s 50-day moving average is $306.23 and its 200 day moving average is $305.64. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The firm has a market capitalization of $214.15 billion, a P/E ratio of 25.72, a P/E/G ratio of 3.12 and a beta of 0.50.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.97 earnings per share. On average, analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $1.77 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.4%. McDonald’s’s payout ratio is 60.67%.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of the 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 transaction, the insider directly owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the transaction, the chief marketing officer owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,402 shares of company stock valued at $1,973,407 in the last quarter. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Truist Financial increased their target price on shares of McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. KeyCorp reissued an “overweight” rating and set a $335.00 price objective (up from $325.00) on shares of McDonald’s in a report on Thursday, August 7th. Weiss Ratings restated a “buy (b)” rating on shares of McDonald’s in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group raised McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 target price on the stock in a research report on Thursday, July 10th. Eleven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $325.18.

About McDonald’s

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.