WealthPlan Investment Management LLC Raises Stake in McDonald’s Co. (NYSE:MCD)

12 Nov 2024, 14:42 by Jessica Moore · The Cerbat Gem

WealthPlan Investment Management LLC increased its holdings in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 54.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,603 shares of the fast-food giant’s stock after purchasing an additional 1,271 shares during the period. WealthPlan Investment Management LLC’s holdings in McDonald’s were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kings Path Partners LLC acquired a new stake in shares of McDonald’s during the 2nd quarter valued at about $38,000. Hara Capital LLC acquired a new position in McDonald’s during the third quarter worth $44,000. Opal Wealth Advisors LLC purchased a new stake in shares of McDonald’s in the second quarter valued at about $59,000. Bbjs Financial Advisors LLC acquired a new position in McDonald’s in the second quarter valued at approximately $65,000. Finally, Macroview Investment Management LLC grew its holdings in shares of McDonald’s by 433.3% during the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock worth $65,000 after purchasing an additional 208 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,596 shares of company stock valued at $10,698,289. 0.23% of the stock is owned by company insiders.

McDonald’s Stock Up 0.9 %

MCD opened at $301.53 on Tuesday. The firm has a market cap of $216.30 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 3.98 and a beta of 0.74. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The business’s 50 day moving average is $299.34 and its two-hundred day moving average is $276.82.

McDonald’s (NYSE:MCD – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the prior year, the firm earned $3.19 EPS. McDonald’s’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts expect that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.35%. McDonald’s’s dividend payout ratio is currently 58.65%.

Analysts Set New Price Targets

MCD has been the subject of several research reports. The Goldman Sachs Group lifted their target price on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Jefferies Financial Group boosted their price objective on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. TD Cowen restated a “hold” rating and set a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Finally, Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus target price of $319.46.

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