McDonald’s Corporation $MCD Shares Purchased by Leelyn Smith LLC

Leelyn Smith LLC lifted its stake in shares of McDonald’s Corporation (NYSE:MCD) by 0.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 20,907 shares of the fast-food giant’s stock after acquiring an additional 187 shares during the period. McDonald’s makes up 1.0% of Leelyn Smith LLC’s holdings, making the stock its 20th biggest holding. Leelyn Smith LLC’s holdings in McDonald’s were worth $6,108,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nova Wealth Management Inc. bought a new stake in shares of McDonald’s in the 1st quarter worth $26,000. HFM Investment Advisors LLC purchased a new position in McDonald’s in the first quarter valued at about $26,000. Abound Financial LLC bought a new stake in shares of McDonald’s during the 1st quarter worth about $30,000. GFG Capital LLC acquired a new position in McDonald’s in the 2nd quarter valued at approximately $29,000. Finally, Redmont Wealth Advisors LLC acquired a new position in McDonald’s in the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MCD shares. Truist Financial lowered their price objective on McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Royal Bank Of Canada assumed coverage on McDonald’s in a research report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price objective on the stock. Bank of America decreased their price objective on McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a research note on Friday. Finally, Wells Fargo & Company dropped their price objective on McDonald’s from $350.00 to $340.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Eleven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $324.50.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $306.05 on Friday. The stock has a market cap of $218.39 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 3.24 and a beta of 0.50. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The firm’s 50-day simple moving average is $306.49 and its 200 day simple moving average is $305.61.

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

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $1.86 dividend. The ex-dividend date is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio (DPR) is presently 60.67%.

Insider Activity at McDonald’s

In other news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the sale, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. The trade was a 12.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the sale, the executive vice president directly owned 8,754 shares of the company’s stock, valued at $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,463 shares of company stock worth $1,692,186. Corporate 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.