Daymark Wealth Partners LLC Raises Stock Position in McDonald’s Co. (NYSE:MCD)

Daymark Wealth Partners LLC raised its stake in shares of McDonald’s Co. (NYSE:MCD) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,950 shares of the fast-food giant’s stock after purchasing an additional 733 shares during the quarter. McDonald’s makes up about 1.4% of Daymark Wealth Partners LLC’s holdings, making the stock its 18th biggest holding. Daymark Wealth Partners LLC’s holdings in McDonald’s were worth $42,467,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Granite Bay Wealth Management LLC increased its stake in shares of McDonald’s by 3.5% in the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant’s stock worth $309,000 after acquiring an additional 33 shares in the last quarter. Northeast Financial Consultants Inc increased its stake in shares of McDonald’s by 0.5% in the 4th quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant’s stock worth $2,170,000 after acquiring an additional 34 shares in the last quarter. Tealwood Asset Management Inc. increased its stake in shares of McDonald’s by 0.4% in the 1st quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant’s stock worth $2,535,000 after acquiring an additional 34 shares in the last quarter. Pettee Investors Inc. increased its stake in shares of McDonald’s by 0.7% in the 4th quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock worth $1,566,000 after acquiring an additional 35 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of McDonald’s by 4.1% in the 4th quarter. Covestor Ltd now owns 899 shares of the fast-food giant’s stock worth $261,000 after acquiring an additional 35 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $315.07, for a total value of $295,850.73. Following the transaction, the insider now owns 11,161 shares in the company, valued at $3,516,496.27. This represents a 7.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.25% of the company’s stock.

McDonald’s Stock Down 0.5%

Shares of NYSE MCD opened at $307.44 on Monday. The firm’s 50-day moving average price is $312.29 and its 200-day moving average price is $302.76. The company has a market cap of $219.83 billion, a PE ratio of 26.99, a PEG ratio of 3.10 and a beta of 0.56. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $326.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.67. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.70 EPS. As a group, equities research analysts anticipate that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Monday, June 2nd. McDonald’s’s payout ratio is presently 62.49%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MCD shares. Bank of America increased their price target on shares of McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Citigroup increased their price target on shares of McDonald’s from $353.00 to $364.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Erste Group Bank lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 24th. Morgan Stanley decreased their price target on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a research note on Monday, March 17th. Finally, Loop Capital downgraded shares of McDonald’s from a “buy” rating to a “hold” rating and cut their price objective for the company from $346.00 to $315.00 in a research report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $324.96.

McDonald’s Company Profile

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.