Sunbelt Securities Inc. Boosts Stake in McDonald’s Corporation $MCD

Sunbelt Securities Inc. increased its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 30.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,385 shares of the fast-food giant’s stock after acquiring an additional 3,158 shares during the quarter. Sunbelt Securities Inc.’s holdings in McDonald’s were worth $4,068,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Evergreen Private Wealth LLC lifted its stake in McDonald’s by 162.5% in the 3rd quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock worth $26,000 after purchasing an additional 52 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in shares of McDonald’s in the second quarter valued at approximately $29,000. Traub Capital Management LLC acquired a new stake in shares of McDonald’s in the second quarter valued at approximately $29,000. Davis Capital Management acquired a new stake in shares of McDonald’s in the third quarter valued at approximately $37,000. Finally, Miller Wealth Advisors LLC purchased a new position in McDonald’s during the third quarter worth approximately $38,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on MCD shares. Weiss Ratings restated a “buy (b-)” rating on shares of McDonald’s in a report on Wednesday, January 28th. Sanford C. Bernstein reiterated a “market perform” rating and set a $340.00 price target on shares of McDonald’s in a report on Thursday, February 12th. Jefferies Financial Group boosted their price target on shares of McDonald’s from $360.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Citigroup upped their price objective on shares of McDonald’s from $371.00 to $375.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of McDonald’s from $305.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 24th. Seventeen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Hold” and an average price target of $339.69.

McDonald’s Price Performance

NYSE MCD opened at $326.38 on Wednesday. The stock has a market capitalization of $231.86 billion, a P/E ratio of 27.31, a PEG ratio of 2.90 and a beta of 0.51. The firm’s 50-day moving average is $321.29 and its two-hundred day moving average is $311.70. McDonald’s Corporation has a 12 month low of $283.47 and a 12 month high of $341.75.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, February 11th. The fast-food giant reported $3.12 earnings per share for the quarter, beating analysts’ consensus estimates of $3.05 by $0.07. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.81 billion. McDonald’s had a net margin of 31.85% and a negative return on equity of 343.90%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the business earned $2.83 earnings per share. As a group, analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is 62.26%.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 2,626 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $328.34, for a total value of $862,220.84. Following the sale, the insider owned 8,733 shares of the company’s stock, valued at $2,867,393.22. The trade was a 23.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Banner sold 6,201 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $333.29, for a total value of $2,066,731.29. Following the transaction, the executive vice president owned 2,291 shares in the company, valued at $763,567.39. This trade represents a 73.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 71,657 shares of company stock worth $23,722,204 over the last quarter. Company insiders own 0.25% of the company’s stock.

McDonald’s Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.