Biltmore Family Office LLC Buys 1,500 Shares of McDonald’s Corporation (NYSE:MCD)

Biltmore Family Office LLC increased its position in McDonald’s Corporation (NYSE:MCD) by 47.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,652 shares of the fast-food giant’s stock after buying an additional 1,500 shares during the period. Biltmore Family Office LLC’s holdings in McDonald’s were worth $1,453,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MCD. Covington Investment Advisors Inc. boosted its holdings in McDonald’s by 0.6% in the first quarter. Covington Investment Advisors Inc. now owns 30,067 shares of the fast-food giant’s stock worth $9,392,000 after acquiring an additional 170 shares in the last quarter. Invesco Ltd. raised its position in shares of McDonald’s by 9.0% during the first quarter. Invesco Ltd. now owns 4,664,299 shares of the fast-food giant’s stock worth $1,456,987,000 after purchasing an additional 386,392 shares during the period. Berger Financial Group Inc raised its position in shares of McDonald’s by 3.8% during the first quarter. Berger Financial Group Inc now owns 2,441 shares of the fast-food giant’s stock worth $762,000 after purchasing an additional 90 shares during the period. Pandora Wealth Inc. bought a new position in shares of McDonald’s in the 1st quarter worth $65,000. Finally, Sierra Summit Advisors LLC grew its position in McDonald’s by 4.7% in the 1st quarter. Sierra Summit Advisors LLC now owns 5,405 shares of the fast-food giant’s stock valued at $1,688,000 after purchasing an additional 245 shares during the period. 70.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MCD has been the topic of several research reports. KeyCorp restated an “overweight” rating and set a $335.00 price objective (up previously from $325.00) on shares of McDonald’s in a report on Thursday. Piper Sandler boosted their target price on shares of McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research report on Thursday. TD Securities restated a “hold” rating and issued a $305.00 target price on shares of McDonald’s in a report on Thursday, June 5th. Loop Capital cut shares of McDonald’s from a “buy” rating to a “hold” rating and dropped their price target for the company from $346.00 to $315.00 in a research report on Friday, June 6th. Finally, Erste Group Bank downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 24th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $326.87.

McDonald’s Stock Down 0.7%

McDonald’s stock opened at $305.62 on Friday. The business has a 50-day simple moving average of $298.57 and a two-hundred day simple moving average of $304.49. The company has a market cap of $218.09 billion, a P/E ratio of 26.19, a P/E/G ratio of 3.19 and a beta of 0.52. McDonald’s Corporation has a 52-week low of $265.33 and a 52-week high of $326.32.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.97 EPS. Research analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

Insider Transactions at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 976 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $303.50, for a total transaction of $296,216.00. Following the transaction, the chief marketing officer directly owned 7,882 shares in the company, valued at $2,392,187. This trade represents a 11.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the sale, the insider directly owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,280 shares of company stock worth $2,215,178. 0.25% of the stock is currently owned by insiders.

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.