Palumbo Wealth Management LLC Raises Stock Holdings in McDonald’s Co. (NYSE:MCD)

Palumbo Wealth Management LLC grew its position in shares of McDonald’s Co. (NYSE:MCDFree Report) by 0.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,067 shares of the fast-food giant’s stock after acquiring an additional 49 shares during the quarter. McDonald’s comprises approximately 0.9% of Palumbo Wealth Management LLC’s holdings, making the stock its 26th largest holding. Palumbo Wealth Management LLC’s holdings in McDonald’s were worth $1,799,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Shulman DeMeo Asset Management LLC lifted its stake in shares of McDonald’s by 12.2% in the 4th quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock valued at $312,000 after purchasing an additional 114 shares during the last quarter. Beaumont Financial Advisors LLC lifted its position in McDonald’s by 0.6% in the third quarter. Beaumont Financial Advisors LLC now owns 80,441 shares of the fast-food giant’s stock worth $21,191,000 after buying an additional 450 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its stake in McDonald’s by 2.8% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock worth $3,269,000 after buying an additional 301 shares during the period. Mengis Capital Management Inc. boosted its stake in McDonald’s by 7.9% during the third quarter. Mengis Capital Management Inc. now owns 4,522 shares of the fast-food giant’s stock worth $1,191,000 after buying an additional 331 shares during the period. Finally, Garden State Investment Advisory Services LLC increased its position in McDonald’s by 7.7% during the third quarter. Garden State Investment Advisory Services LLC now owns 1,227 shares of the fast-food giant’s stock valued at $323,000 after acquiring an additional 88 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Down 0.6 %

Shares of MCD opened at $280.22 on Tuesday. The company has a 50 day moving average of $289.65 and a two-hundred day moving average of $280.91. The company has a market cap of $202.33 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 3.04 and a beta of 0.71. McDonald’s Co. has a twelve month low of $245.73 and a twelve month high of $302.39.

McDonald’s (NYSE:MCDGet Free Report) last posted its quarterly earnings data on Monday, February 5th. The fast-food giant reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.12. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. The firm had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.45 billion. During the same quarter last year, the firm earned $2.59 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts expect that McDonald’s Co. will post 12.38 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $1.67 per share. The ex-dividend date was Thursday, February 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.38%. McDonald’s’s payout ratio is 57.74%.

Wall Street Analyst Weigh In

A number of research firms recently commented on MCD. Bank of America lifted their price target on shares of McDonald’s from $291.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Argus restated a “hold” rating on shares of McDonald’s in a research report on Monday, March 25th. Barclays reduced their price target on McDonald’s from $343.00 to $340.00 and set an “overweight” rating on the stock in a report on Tuesday, February 6th. TD Cowen reiterated an “outperform” rating and issued a $325.00 target price on shares of McDonald’s in a research note on Tuesday, March 19th. Finally, Oppenheimer reiterated a “market perform” rating on shares of McDonald’s in a research report on Friday, January 5th. Eight research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $320.60.

View Our Latest Stock Report on McDonald’s

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total transaction of $312,533.62. Following the sale, the insider now owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

McDonald’s Profile

(Free Report)

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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