Hubbell Strickland Wealth Management LLC Raises Stock Position in McDonald’s Corporation (NYSE:MCD)

Hubbell Strickland Wealth Management LLC lifted its stake in shares of McDonald’s Corporation (NYSE:MCD) by 34.1% during the first quarter, HoldingsChannel.com reports. The fund owned 8,138 shares of the fast-food giant’s stock after buying an additional 2,070 shares during the quarter. McDonald’s makes up approximately 1.2% of Hubbell Strickland Wealth Management LLC’s investment portfolio, making the stock its 17th biggest holding. Hubbell Strickland Wealth Management LLC’s holdings in McDonald’s were worth $2,542,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in McDonald’s by 21.6% during the fourth quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock valued at $2,692,000 after buying an additional 1,649 shares during the period. Union Bancaire Privee UBP SA purchased a new position in McDonald’s during the fourth quarter valued at approximately $64,805,000. Revolve Wealth Partners LLC increased its holdings in McDonald’s by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock valued at $563,000 after buying an additional 52 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in McDonald’s by 15.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 209,464 shares of the fast-food giant’s stock valued at $60,722,000 after buying an additional 27,774 shares during the period. Finally, Strategic Financial Concepts LLC increased its holdings in McDonald’s by 4.5% during the fourth quarter. Strategic Financial Concepts LLC now owns 880 shares of the fast-food giant’s stock valued at $255,000 after buying an additional 38 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $315.07, for a total transaction of $295,850.73. Following the completion of the transaction, the insider now owns 11,161 shares of the company’s stock, valued at $3,516,496.27. This trade represents a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $286.75 on Friday. The firm has a fifty day moving average price of $310.55 and a 200 day moving average price of $302.78. McDonald’s Corporation has a 1 year low of $243.53 and a 1 year high of $326.32. The stock has a market cap of $205.04 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 3.02 and a beta of 0.56.

McDonald’s (NYSE:MCD) last issued its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.67. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.17 billion. During the same quarter last year, the company posted $2.70 earnings per share. The firm’s revenue was down 3.5% compared to the same quarter last year. As a group, equities analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $1.77 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.47%. McDonald’s’s dividend payout ratio (DPR) is presently 62.49%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MCD. Argus downgraded shares of McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. Piper Sandler raised their target price on shares of McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. 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. Robert W. Baird raised their target price on shares of McDonald’s from $300.00 to $315.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $345.00 target price (up from $340.00) on shares of McDonald’s in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $321.79.

McDonald’s 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.