SkyOak Wealth LLC Raises Holdings in McDonald’s Co. (NYSE:MCD)

SkyOak Wealth LLC boosted its stake in McDonald’s Co. (NYSE:MCD) by 2.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,750 shares of the fast-food giant’s stock after buying an additional 177 shares during the quarter. SkyOak Wealth LLC’s holdings in McDonald’s were worth $1,720,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Gallagher Fiduciary Advisors LLC raised its stake in McDonald’s by 141,160.9% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after purchasing an additional 5,609,736 shares during the last quarter. Capital Research Global Investors raised its position in shares of McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after buying an additional 2,193,769 shares during the last quarter. Swedbank AB acquired a new stake in McDonald’s during the first quarter worth approximately $348,206,000. Capital World Investors grew its stake in McDonald’s by 39.7% in the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after acquiring an additional 1,012,534 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in McDonald’s by 15.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after acquiring an additional 987,099 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Tigress Financial raised their price objective on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Truist Financial dropped their price objective on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. BMO Capital Markets decreased their target price on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Finally, Loop Capital reaffirmed a “buy” rating and set a $342.00 price target on shares of McDonald’s in a research report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $306.11.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the transaction, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The disclosure for this sale can be found here. Insiders have sold 6,291 shares of company stock valued at $1,689,073 over the last three months. Company insiders own 0.23% of the company’s stock.

McDonald’s Trading Down 1.0 %

MCD stock opened at $293.73 on Wednesday. The firm has a 50 day simple moving average of $274.83 and a 200-day simple moving average of $270.53. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $302.39. The company has a market capitalization of $211.69 billion, a P/E ratio of 24.93, a PEG ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period last year, the company posted $3.17 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, research analysts predict that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $1.67 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.27%. McDonald’s’s dividend payout ratio is currently 56.71%.

McDonald’s Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.