Trueblood Wealth Management LLC Buys Shares of 6,739 McDonald’s Co. (NYSE:MCD)

Trueblood Wealth Management LLC bought a new stake in shares of McDonald’s Co. (NYSE:MCD) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,739 shares of the fast-food giant’s stock, valued at approximately $1,998,000. McDonald’s comprises about 1.3% of Trueblood Wealth Management LLC’s investment portfolio, making the stock its 9th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Independent Wealth Network Inc. grew its position in shares of McDonald’s by 4.2% in the 4th quarter. Independent Wealth Network Inc. now owns 863 shares of the fast-food giant’s stock valued at $256,000 after purchasing an additional 35 shares during the period. Paragon Capital Management Ltd grew its position in shares of McDonald’s by 2.7% in the 4th quarter. Paragon Capital Management Ltd now owns 1,374 shares of the fast-food giant’s stock valued at $407,000 after purchasing an additional 36 shares during the period. Proquility Private Wealth Partners LLC grew its position in shares of McDonald’s by 1.0% in the 4th quarter. Proquility Private Wealth Partners LLC now owns 3,737 shares of the fast-food giant’s stock valued at $985,000 after purchasing an additional 38 shares during the period. Unique Wealth LLC grew its position in shares of McDonald’s by 1.2% in the 4th quarter. Unique Wealth LLC now owns 3,249 shares of the fast-food giant’s stock valued at $963,000 after purchasing an additional 38 shares during the period. Finally, STAR Financial Bank grew its position in shares of McDonald’s by 1.1% in the 2nd quarter. STAR Financial Bank now owns 3,767 shares of the fast-food giant’s stock valued at $1,124,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Up 1.2 %

Shares of MCD stock traded up $3.40 during trading on Wednesday, reaching $282.02. 2,564,848 shares of the company’s stock were exchanged, compared to its average volume of 3,185,269. The stock has a market capitalization of $203.63 billion, a PE ratio of 24.38, a PEG ratio of 3.01 and a beta of 0.72. McDonald’s Co. has a twelve month low of $245.73 and a twelve month high of $302.39. The firm’s fifty day moving average price is $290.82 and its 200-day moving average price is $280.92.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, February 5th. The fast-food giant reported $2.95 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $6.45 billion. During the same period in the prior year, the firm posted $2.59 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, analysts anticipate that McDonald’s Co. will post 12.38 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Thursday, February 29th. McDonald’s’s dividend payout ratio is 57.74%.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the sale, the insider now directly 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 is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Citigroup cut their target price on McDonald’s from $327.00 to $310.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Piper Sandler boosted their target price on McDonald’s from $273.00 to $299.00 and gave the company a “neutral” rating in a research note on Monday, December 11th. Robert W. Baird restated an “outperform” rating and issued a $315.00 target price on shares of McDonald’s in a research note on Tuesday, February 6th. BMO Capital Markets boosted their target price on McDonald’s from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Thursday, December 7th. Finally, BTIG Research cut McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. Eight investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $320.60.

McDonald’s Company Profile

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.