Greenwood Capital Associates LLC Acquires 1,499 Shares of McDonald’s Co. (NYSE:MCD)

Greenwood Capital Associates LLC grew its holdings in McDonald’s Co. (NYSE:MCD) by 10.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,088 shares of the fast-food giant’s stock after purchasing an additional 1,499 shares during the period. Greenwood Capital Associates LLC’s holdings in McDonald’s were worth $5,025,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Mascagni Wealth Management Inc. bought a new stake in McDonald’s during the 4th quarter worth about $25,000. Atala Financial Inc bought a new stake in McDonald’s during the fourth quarter worth about $26,000. Pinney & Scofield Inc. acquired a new position in McDonald’s during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC boosted its position in McDonald’s by 110.0% during the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. Finally, GKV Capital Management Co. Inc. bought a new position in McDonald’s in the fourth quarter valued at approximately $30,000. Institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MCD. Erste Group Bank cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 24th. Redburn Atlantic reiterated a “sell” rating and issued a $260.00 price target (down previously from $319.00) on shares of McDonald’s in a research note on Tuesday. Morgan Stanley restated an “equal weight” rating and set a $324.00 price objective (down from $329.00) on shares of McDonald’s in a research note on Monday. KeyCorp raised their target price on shares of McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Finally, Piper Sandler lifted their price target on McDonald’s from $292.00 to $314.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, McDonald’s currently has a consensus rating of “Hold” and a consensus price target of $321.79.

McDonald’s Stock Up 0.5%

Shares of NYSE MCD opened at $301.93 on Thursday. The company has a market capitalization of $215.89 billion, a PE ratio of 26.51, a P/E/G ratio of 3.10 and a beta of 0.56. The firm has a fifty day simple moving average of $311.84 and a 200 day simple moving average of $302.83. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $326.32.

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

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $1.77 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.34%. McDonald’s’s payout ratio is currently 62.49%.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $318.50, for a total transaction of $299,071.50. Following the transaction, the insider now owns 12,100 shares in the company, valued at approximately $3,853,850. This represents a 7.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company’s stock.

About McDonald’s

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.