McDonald’s Corporation $MCD Shares Purchased by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC increased its position in shares of McDonald’s Corporation (NYSE:MCD) by 17.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 63,139 shares of the fast-food giant’s stock after buying an additional 9,455 shares during the quarter. McDonald’s accounts for about 0.9% of Turtle Creek Wealth Advisors LLC’s holdings, making the stock its 27th biggest position. Turtle Creek Wealth Advisors LLC’s holdings in McDonald’s were worth $17,066,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of McDonald’s by 21.6% during the fourth quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock worth $2,692,000 after acquiring an additional 1,649 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of McDonald’s by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock valued at $563,000 after acquiring an additional 52 shares during the period. Sivia Capital Partners LLC raised its position in McDonald’s by 11.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,017 shares of the fast-food giant’s stock valued at $589,000 after purchasing an additional 206 shares during the last quarter. United Bank raised its position in McDonald’s by 6.0% in the 2nd quarter. United Bank now owns 8,102 shares of the fast-food giant’s stock valued at $2,367,000 after purchasing an additional 459 shares during the last quarter. Finally, Schnieders Capital Management LLC. boosted its stake in McDonald’s by 2.5% during the 2nd quarter. Schnieders Capital Management LLC. now owns 12,938 shares of the fast-food giant’s stock worth $3,780,000 after purchasing an additional 312 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE MCD opened at $272.28 on Friday. The stock has a fifty day moving average price of $273.95 and a 200 day moving average price of $295.44. McDonald’s Corporation has a 1-year low of $260.96 and a 1-year high of $341.75. The company has a market cap of $192.68 billion, a PE ratio of 22.12, a P/E/G ratio of 3.09 and a beta of 0.41.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, August 4th. The fast-food giant reported $3.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.06. The company had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $7.13 billion. McDonald’s had a net margin of 31.72% and a negative return on equity of 512.80%. McDonald’s’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.19 EPS. Analysts anticipate that McDonald’s Corporation will post 12.88 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st will be issued a $1.86 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $7.44 annualized dividend and a dividend yield of 2.7%. McDonald’s’s payout ratio is presently 60.44%.

Insider Activity

In other news, EVP Desiree Ralls-Morrison sold 2,763 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $278.36, for a total transaction of $769,108.68. Following the transaction, the executive vice president directly owned 6,268 shares in the company, valued at $1,744,760.48. The trade was a 30.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 5,252 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $284.32, for a total transaction of $1,493,248.64. Following the transaction, the insider directly owned 7,734 shares of the company’s stock, valued at $2,198,930.88. This represents a 40.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 8,348 shares of company stock worth $2,355,634. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of several research reports. Erste Group Bank downgraded shares of McDonald’s from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings cut shares of McDonald’s from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Morgan Stanley decreased their target price on shares of McDonald’s from $322.00 to $319.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 5th. Tigress Financial raised their price target on McDonald’s from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Finally, Piper Sandler set a $286.00 price target on McDonald’s in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $325.44.

McDonald’s News Roundup

Here are the key news stories impacting McDonald’s this week:

• Positive Sentiment: Nationwide menu initiatives, including new energy-focused beverages, seven menu additions, and the limited-time Hello Kitty and Godzilla Happy Meal promotion, could support traffic, customer engagement, and comparable-sales growth. McDonald’s serving up new kind of energy boost on menus nationwide
• Positive Sentiment: Some analysts see potential upside toward the mid-$300s if McDonald’s improves U.S. same-store sales and executes its McDonald’s NEXT strategy effectively. The company also continues to benefit from its large franchise and real-estate platform. McDonald’s stock gets fair value trim as analysts split on U.S. execution

McDonald’s Company Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.