Maridea Wealth Management LLC Acquires 880 Shares of McDonald’s Corporation $MCD

Maridea Wealth Management LLC raised its holdings in McDonald’s Corporation (NYSE:MCD) by 36.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,312 shares of the fast-food giant’s stock after acquiring an additional 880 shares during the quarter. Maridea Wealth Management LLC’s holdings in McDonald’s were worth $968,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First American Trust FSB raised its holdings in McDonald’s by 55.9% in the first quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock worth $11,532,000 after purchasing an additional 13,234 shares during the period. Banque Transatlantique SA raised its holdings in McDonald’s by 58.0% in the first quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock worth $71,829,000 after purchasing an additional 91,313 shares during the period. Hamilton Capital LLC raised its holdings in McDonald’s by 35.2% in the first quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock worth $982,000 after purchasing an additional 819 shares during the period. Red Door Wealth Management LLC raised its holdings in shares of McDonald’s by 1.9% during the first quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant’s stock worth $1,788,000 after acquiring an additional 109 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of McDonald’s by 5.6% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant’s stock worth $107,867,000 after acquiring an additional 18,393 shares during the period. 70.29% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. The trade was a 22.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $310,000.00. Following the sale, the executive vice president directly owned 99 shares of the company’s stock, valued at $30,690. The trade was a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,402 shares of company stock valued at $2,273,407 over the last quarter. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. KeyCorp restated 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. Evercore ISI raised their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. TD Securities restated a “hold” rating and set a $305.00 price objective on shares of McDonald’s in a report on Thursday, June 5th. Citigroup raised their price objective on shares of McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Finally, Stifel Nicolaus raised their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Friday, August 22nd. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, McDonald’s presently has a consensus rating of “Hold” and a consensus price target of $325.86.

McDonald’s Trading Up 0.4%

McDonald’s stock opened at $304.34 on Thursday. The company has a market cap of $217.18 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 3.09 and a beta of 0.50. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The company has a fifty day simple moving average of $306.27 and a 200 day simple moving average of $306.25.

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

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $1.77 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend 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.