SteelPeak Wealth LLC Acquires 18,236 Shares of McDonald’s Co. (NYSE:MCD)

SteelPeak Wealth LLC lifted its holdings in McDonald’s Co. (NYSE:MCD) by 242.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 25,762 shares of the fast-food giant’s stock after acquiring an additional 18,236 shares during the quarter. SteelPeak Wealth LLC’s holdings in McDonald’s were worth $7,845,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Kings Path Partners LLC bought a new stake in McDonald’s during the 2nd quarter valued at $38,000. Keener Financial Planning LLC raised its holdings in McDonald’s by 32.3% during the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after buying an additional 43 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in McDonald’s during the 2nd quarter valued at $59,000. Bbjs Financial Advisors LLC bought a new stake in McDonald’s during the 2nd quarter valued at $65,000. Finally, Macroview Investment Management LLC raised its holdings in McDonald’s by 433.3% during the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after buying an additional 208 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the sale, the insider now owns 10,385 shares in the company, valued at approximately $3,036,366.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the sale, the insider now owns 10,385 shares in the company, valued at approximately $3,036,366.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the sale, the chief marketing officer now owns 2,905 shares in the company, valued at approximately $900,550. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,097 shares of company stock worth $10,256,818. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on MCD. Bank of America upped their price target on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a report on Wednesday. Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $320.00 to $290.00 in a report on Wednesday, October 23rd. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Loop Capital restated a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Finally, Barclays upped their price objective on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Thirteen analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and an average target price of $318.74.

McDonald’s Stock Down 1.1 %

Shares of NYSE:MCD opened at $291.64 on Thursday. The firm’s 50 day moving average price is $298.19 and its 200-day moving average price is $275.47. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The stock has a market capitalization of $209.21 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 4.13 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the prior year, the business earned $3.19 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts expect that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced 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. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.43%. McDonald’s’s dividend payout ratio (DPR) is presently 61.94%.

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.