Peddock Capital Advisors LLC Has $2.53 Million Position in McDonald’s Corporation $MCD

Peddock Capital Advisors LLC reduced its stake in McDonald’s Corporation (NYSE:MCD) by 4.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,648 shares of the fast-food giant’s stock after selling 413 shares during the period. Peddock Capital Advisors LLC’s holdings in McDonald’s were worth $2,527,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MCD. Mascagni Wealth Management Inc. acquired a new stake in McDonald’s during the 4th quarter worth approximately $25,000. HFM Investment Advisors LLC acquired a new position in shares of McDonald’s in the 1st quarter worth approximately $26,000. Nova Wealth Management Inc. acquired a new position in shares of McDonald’s in the 1st quarter worth approximately $26,000. Abound Financial LLC acquired a new position in shares of McDonald’s in the 1st quarter worth approximately $30,000. Finally, Copia Wealth Management acquired a new position in shares of McDonald’s in the 4th quarter worth approximately $31,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the transaction, the executive vice president owned 99 shares of the company’s stock, valued at approximately $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the transaction, the chief marketing officer directly owned 8,858 shares of the company’s stock, valued at approximately $2,657,400. This represents a 10.14% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,402 shares of company stock worth $2,273,407. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Stock Up 0.0%

Shares of MCD opened at $303.12 on Wednesday. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The business’s 50-day moving average price is $306.16 and its 200-day moving average price is $306.27. The stock has a market cap of $216.31 billion, a PE ratio of 25.97, a P/E/G ratio of 3.09 and a beta of 0.50.

McDonald’s (NYSE:MCD) last issued its quarterly 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. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same period last year, the business earned $2.97 earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. Analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a dividend of $1.77 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.3%. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

Analyst Ratings Changes

Several research firms have recently weighed in on MCD. TD Cowen lifted their price objective on shares of McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research note on Wednesday, August 6th. Bank of America lowered their price objective on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. The Goldman Sachs Group upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target for the company in a research note on Thursday, July 10th. Argus lowered shares of McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $325.86.

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.