SLT Holdings LLC Grows Stock Position in McDonald’s Corporation $MCD

SLT Holdings LLC raised its holdings in McDonald’s Corporation (NYSE:MCD) by 6.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 947 shares of the fast-food giant’s stock after buying an additional 59 shares during the quarter. SLT Holdings LLC’s holdings in McDonald’s were worth $277,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MCD. Nova Wealth Management Inc. acquired a new position in shares of McDonald’s in the first quarter valued at about $26,000. HFM Investment Advisors LLC acquired a new position in shares of McDonald’s in the first quarter valued at about $26,000. Abound Financial LLC acquired a new position in shares of McDonald’s in the first quarter valued at about $30,000. GFG Capital LLC acquired a new position in shares of McDonald’s in the second quarter valued at about $29,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of McDonald’s in the first quarter valued at about $31,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Up 1.1%

McDonald’s stock opened at $297.07 on Friday. The firm has a market cap of $211.99 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 3.09 and a beta of 0.50. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The business’s 50-day moving average price is $306.31 and its 200 day moving average price is $305.79.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same period last year, the company earned $2.97 earnings per share. McDonald’s’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 60.67%.

Insiders Place Their Bets

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the sale, the executive vice president directly 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer directly owned 6,858 shares in the company, valued at approximately $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,402 shares of company stock valued at $1,973,407 in the last three months. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada assumed coverage on McDonald’s in a report on Wednesday. They issued a “sector perform” rating and a $320.00 price objective on the stock. Truist Financial increased their price objective on McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, August 7th. TD Cowen increased their price objective on McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, August 6th. Stifel Nicolaus increased their price objective on McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a report on Friday, August 22nd. Finally, Melius initiated coverage on McDonald’s in a report on Monday, July 14th. They set a “sell” rating and a $250.00 target price on the stock. Eleven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $325.18.

McDonald’s 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.