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

Sagespring Wealth Partners LLC boosted its stake in shares of McDonald’s Corporation (NYSE:MCD) by 12.8% in the 2nd quarter, Holdings Channel reports. The fund owned 19,435 shares of the fast-food giant’s stock after buying an additional 2,209 shares during the period. Sagespring Wealth Partners LLC’s holdings in McDonald’s were worth $5,678,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of McDonald’s by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant’s stock worth $21,993,689,000 after acquiring an additional 239,753 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in McDonald’s by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after purchasing an additional 1,344,954 shares during the period. Northern Trust Corp boosted its position in McDonald’s by 1.1% during the first quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant’s stock worth $2,800,447,000 after purchasing an additional 97,966 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in McDonald’s by 2.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant’s stock valued at $1,606,354,000 after purchasing an additional 123,454 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of McDonald’s by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after buying an additional 815,768 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

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

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

McDonald’s Dividend Announcement

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

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider directly owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer owned 6,858 shares in the company, valued at $2,160,270. This represents a 12.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,402 shares of company stock worth $1,973,407. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

MCD has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of McDonald’s in a research report on Wednesday, October 8th. Piper Sandler upped their price target on shares of McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Royal Bank Of Canada assumed coverage on McDonald’s in a report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price objective on the stock. Evercore ISI increased their target price on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Barclays lifted their price target on McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Eleven analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $325.18.

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.