Greenwood Capital Associates LLC Acquires 2,667 Shares of McDonald’s Corporation $MCD

Greenwood Capital Associates LLC raised its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 12.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,068 shares of the fast-food giant’s stock after acquiring an additional 2,667 shares during the quarter. Greenwood Capital Associates LLC’s holdings in McDonald’s were worth $7,480,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MCD. Your Advocates Ltd. LLP purchased a new stake in shares of McDonald’s during the fourth quarter worth about $27,000. Park Place Capital Corp lifted its holdings in McDonald’s by 95.7% in the 4th quarter. Park Place Capital Corp now owns 92 shares of the fast-food giant’s stock worth $28,000 after purchasing an additional 45 shares in the last quarter. IFC & Insurance Marketing Inc. bought a new position in McDonald’s in the 4th quarter worth approximately $29,000. Abound Financial LLC bought a new position in McDonald’s in the 4th quarter worth approximately $30,000. Finally, Purpose Unlimited Inc. bought a new position in McDonald’s in the 4th quarter worth approximately $31,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

More McDonald’s News

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

• Positive Sentiment: McDonald’s is leaning on promotions and pop-culture tie-ins to drive traffic, including a new BT21 Happy Meal collaboration and related Pokémon-style merchandising buzz that could support near-term sales. McDonald’s Reveals More On BT21 X Happy Meal Collaboration
• Positive Sentiment: Local and regional promotions, such as free fries for National French Fry Day and the return of limited-time menu items, may help create short-term customer traffic and engagement. McDonald’s giving away free medium fries in Corpus Christi and Victoria for National French Fry Day
• Neutral Sentiment: Coverage focused on McDonald’s franchise economics and brand marketing keeps the company in the spotlight, but these stories do not materially change the investment thesis by themselves. McDonald’s Franchise Owners Make A Surprising Amount Of Money
• Neutral Sentiment: Analyst and comparison pieces continue to frame McDonald’s as a defensive, lower-stress consumer stock, which supports the long-term case but does not appear to be a near-term catalyst. Buy these quality, low-stress stocks for the summer, says Jefferies
• Negative Sentiment: Several articles highlighted complaints that McDonald’s food no longer tastes as good as customers remember, plus reports that some loyal customers are choosing other fast-food chains instead, which can pressure traffic expectations. The McDonald’s Foods Customers Say No Longer Taste Like They Remember
• Negative Sentiment: Competitive headlines also showed rivals taking aim at McDonald’s with new menu offerings, underscoring ongoing pressure in the fast-food market. McDonald’s rival takes not-so-subtle swipe at the fast food giant with new chicken sandwiches

McDonald’s Price Performance

NYSE MCD opened at $278.44 on Thursday. McDonald’s Corporation has a 1-year low of $264.53 and a 1-year high of $341.75. The business has a 50 day simple moving average of $279.20 and a two-hundred day simple moving average of $302.32. The stock has a market capitalization of $197.83 billion, a PE ratio of 22.95, a P/E/G ratio of 2.81 and a beta of 0.41.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.09. The business had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $6.47 billion. McDonald’s had a negative return on equity of 442.10% and a net margin of 31.62%.The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.67 EPS. On average, analysts anticipate that McDonald’s Corporation will post 12.93 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $7.44 dividend on an annualized basis and a yield of 2.7%. McDonald’s’s dividend payout ratio is presently 61.34%.

Insiders Place Their Bets

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,763 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $278.36, for a total transaction of $769,108.68. Following the completion of the transaction, the executive vice president owned 6,268 shares in the company, valued at $1,744,760.48. This trade represents a 30.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 5,252 shares of McDonald’s stock in a transaction on 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 completion of the transaction, the insider directly owned 7,734 shares of the company’s stock, valued at $2,198,930.88. The trade was 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 have sold 11,307 shares of company stock worth $3,262,622. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of McDonald’s from $355.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Weiss Ratings lowered shares of McDonald’s from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. BTIG Research reaffirmed a “buy” rating and set a $370.00 target price on shares of McDonald’s in a research note on Thursday, May 7th. Robert W. Baird set a $305.00 price target on shares of McDonald’s in a report on Thursday, May 7th. Finally, Morgan Stanley set a $331.00 price target on shares of McDonald’s in a research note on Friday, May 8th. Sixteen equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $335.70.

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.