McDonald’s Corporation $MCD Shares Purchased by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC grew its stake in shares of McDonald’s Corporation (NYSE:MCD) by 6.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,713 shares of the fast-food giant’s stock after acquiring an additional 2,184 shares during the quarter. McDonald’s comprises approximately 1.3% of Turtle Creek Wealth Advisors LLC’s investment portfolio, making the stock its 18th largest holding. Turtle Creek Wealth Advisors LLC’s holdings in McDonald’s were worth $11,019,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Nova Wealth Management Inc. acquired a new position in shares of McDonald’s during the first quarter valued at about $26,000. HFM Investment Advisors LLC purchased a new stake in McDonald’s in the first quarter valued at approximately $26,000. Abound Financial LLC purchased a new stake in McDonald’s in the first quarter valued at approximately $30,000. GFG Capital LLC purchased a new stake in McDonald’s in the second quarter valued at approximately $29,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in McDonald’s in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $305.04 on Thursday. 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 $217.68 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 3.21 and a beta of 0.50. The business’s 50 day moving average price is $306.29 and its 200-day moving average price is $305.63.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) 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 analyst estimates of $6.68 billion. During the same quarter last year, the firm posted $2.97 EPS. The business’s revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a $1.77 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. McDonald’s’s dividend payout ratio (DPR) is presently 60.67%.

Analyst Upgrades and Downgrades

MCD has been the topic of several recent research reports. Truist Financial lowered their price objective on McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday. Citigroup upped their price objective on McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Guggenheim lowered their price objective on McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. Bank of America lowered their price objective on McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. Finally, Barclays upped their price objective on McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Eleven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $324.73.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the transaction, the executive vice president owned 99 shares in the company, valued at approximately $30,690. This trade represents a 90.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, the insider owned 9,283 shares in the company, valued at $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,402 shares of company stock worth $1,973,407. Company insiders own 0.25% of the company’s stock.

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.