Waterfront Wealth Inc. Reduces Holdings in McDonald’s Corporation $MCD

Waterfront Wealth Inc. lessened its holdings in McDonald’s Corporation (NYSE:MCD) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,482 shares of the fast-food giant’s stock after selling 95 shares during the quarter. Waterfront Wealth Inc.’s holdings in McDonald’s were worth $1,602,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MCD. Nuveen LLC acquired a new position in shares of McDonald’s during the first quarter valued at $1,324,961,000. Price T Rowe Associates Inc. MD raised its stake in shares of McDonald’s by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after purchasing an additional 1,344,954 shares in the last quarter. Goldman Sachs Group Inc. raised its position in 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 worth $1,556,485,000 after acquiring an additional 815,768 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in McDonald’s by 732.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock worth $203,211,000 after acquiring an additional 572,408 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in McDonald’s by 204.8% in the second quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock worth $177,390,000 after acquiring an additional 407,982 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insiders Place Their Bets

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the transaction, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares of the company’s stock, valued at approximately $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 5,463 shares of company stock worth $1,692,186 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Stifel Nicolaus lifted their price target on McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Friday, August 22nd. Wells Fargo & Company lowered their target price on McDonald’s from $350.00 to $340.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. The Goldman Sachs Group raised McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target for the company in a research note on Thursday, July 10th. Truist Financial lowered their price target on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Finally, Piper Sandler reissued a “neutral” rating and issued a $325.00 price target on shares of McDonald’s in a research report on Wednesday, October 22nd. Eleven analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $323.43.

McDonald’s Trading Down 1.0%

Shares of NYSE MCD opened at $306.79 on Wednesday. The business has a fifty day simple moving average of $306.44 and a 200 day simple moving average of $305.71. The firm has a market capitalization of $218.93 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 3.31 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 issued its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.McDonald’s’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.97 earnings per share. On average, research analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $1.86 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, December 1st. McDonald’s’s dividend payout ratio is currently 60.67%.

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.