GSB Wealth Management LLC Has $2.57 Million Stock Holdings in McDonald’s Corporation (NYSE:MCD)

GSB Wealth Management LLC increased its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,230 shares of the fast-food giant’s stock after acquiring an additional 126 shares during the period. GSB Wealth Management LLC’s holdings in McDonald’s were worth $2,571,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in McDonald’s during the fourth quarter worth about $2,725,190,000. GAMMA Investing LLC raised its holdings in shares of McDonald’s by 39,039.7% in the 1st quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant’s stock worth $1,092,645,000 after buying an additional 3,488,982 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of McDonald’s during the 4th quarter worth approximately $703,074,000. Castlekeep Investment Advisors LLC bought a new position in shares of McDonald’s during the 4th quarter worth approximately $350,935,000. Finally, Northern Trust Corp boosted its stake in McDonald’s by 11.2% in the 4th quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant’s stock valued at $2,570,511,000 after buying an additional 895,896 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MCD. Truist Financial set a $350.00 price objective on McDonald’s in a report on Friday, May 2nd. Citigroup increased their target price 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. Loop Capital downgraded shares of McDonald’s from a “buy” rating to a “hold” rating and cut their price target for the company from $346.00 to $315.00 in a report on Friday, June 6th. Robert W. Baird upped their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Finally, Redburn Atlantic reaffirmed a “sell” rating and set a $260.00 price objective (down previously from $319.00) on shares of McDonald’s in a report on Tuesday, June 10th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Hold” and an average target price of $321.79.

Insiders Place Their Bets

In other McDonald’s 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 transaction, the insider now directly owns 11,161 shares of the company’s stock, valued at approximately $3,516,496.27. This trade represents a 7.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

McDonald’s Stock Performance

NYSE:MCD opened at $292.35 on Wednesday. The company has a market cap of $209.04 billion, a price-to-earnings ratio of 25.80, a P/E/G ratio of 3.09 and a beta of 0.56. The stock’s fifty day moving average price is $311.66 and its two-hundred day moving average price is $302.95. McDonald’s Corporation has a 52-week low of $243.53 and a 52-week high of $326.32.

McDonald’s (NYSE:MCD) last released its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.67. McDonald’s had a negative return on equity of 195.27% and a net margin of 31.75%. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. During the same quarter in the previous year, the company posted $2.70 earnings per share. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. On average, equities analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $1.77 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. McDonald’s’s payout ratio is 62.49%.

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.