Golden State Wealth Management LLC Increases Stock Position in McDonald’s Corporation (NYSE:MCD)

Golden State Wealth Management LLC raised its stake in McDonald’s Corporation (NYSE:MCD) by 149.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 6,151 shares of the fast-food giant’s stock after purchasing an additional 3,689 shares during the period. Golden State Wealth Management LLC’s holdings in McDonald’s were worth $1,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in MCD. Granite Bay Wealth Management LLC boosted its position in shares of McDonald’s by 3.5% in the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant’s stock valued at $309,000 after purchasing an additional 33 shares during the period. CVA Family Office LLC boosted its holdings in shares of McDonald’s by 1.9% in the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant’s stock valued at $560,000 after acquiring an additional 33 shares during the period. Consilium Wealth Advisory LLC boosted its holdings in shares of McDonald’s by 2.5% in the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant’s stock valued at $417,000 after acquiring an additional 33 shares during the period. Northeast Financial Consultants Inc grew its position in shares of McDonald’s by 0.5% during the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant’s stock worth $2,170,000 after acquiring an additional 34 shares during the last quarter. Finally, Tealwood Asset Management Inc. increased its holdings in shares of McDonald’s by 0.4% in the 1st quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant’s stock valued at $2,535,000 after acquiring an additional 34 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $288.52, for a total transaction of $270,920.28. Following the completion of the transaction, the insider now owns 10,222 shares of the company’s stock, valued at $2,949,251.44. The trade was a 8.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 2,817 shares of company stock valued at $865,843. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the subject of a number of recent research reports. Erste Group Bank cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 24th. Morgan Stanley reiterated an “equal weight” rating and set a $324.00 target price (down previously from $329.00) on shares of McDonald’s in a research note on Monday, June 9th. Argus lowered McDonald’s from a “buy” rating to a “hold” rating in a report on Friday, June 13th. KeyCorp upped their price objective on McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Finally, Northcoast Research cut McDonald’s from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $321.79.

McDonald’s Trading Up 0.7%

MCD stock opened at $291.50 on Wednesday. The company’s 50-day moving average price is $309.60 and its 200 day moving average price is $302.72. McDonald’s Corporation has a 52 week low of $243.53 and a 52 week high of $326.32. The company has a market cap of $208.43 billion, a P/E ratio of 25.73, a P/E/G ratio of 3.02 and a beta of 0.56.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting the consensus estimate of $2.67. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. McDonald’s had a negative return on equity of 195.27% and a net margin of 31.75%. The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.70 EPS. On average, equities research analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $1.77 per share. The ex-dividend date was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.43%. McDonald’s’s payout ratio is 62.49%.

About McDonald’s

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.