Lakeridge Wealth Management LLC Purchases 36 Shares of McDonald’s Co. (NYSE:MCD)

Lakeridge Wealth Management LLC boosted its position in McDonald’s Co. (NYSE:MCD) by 1.4% in the first quarter, Holdings Channel.com reports. The firm owned 2,547 shares of the fast-food giant’s stock after buying an additional 36 shares during the quarter. Lakeridge Wealth Management LLC’s holdings in McDonald’s were worth $796,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Mascagni Wealth Management Inc. purchased a new stake in shares of McDonald’s in the fourth quarter worth $25,000. Atala Financial Inc purchased a new stake in shares of McDonald’s in the fourth quarter worth $26,000. Pinney & Scofield Inc. purchased a new stake in shares of McDonald’s in the fourth quarter worth $29,000. Fairway Wealth LLC grew its stake in shares of McDonald’s by 110.0% in the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock worth $30,000 after acquiring an additional 55 shares during the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of McDonald’s in the fourth quarter worth $30,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $301.57 on Friday. The stock has a market capitalization of $215.63 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 3.10 and a beta of 0.56. The stock’s 50-day simple moving average is $311.95 and its two-hundred day simple moving average is $302.92. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $326.32.

McDonald’s (NYSE:MCD) last announced its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.67. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.17 billion. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the firm posted $2.70 earnings per share. As a group, equities analysts forecast that McDonald’s Co. will post 12.25 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 Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $1.77 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.35%. McDonald’s’s payout ratio is 62.49%.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $315.07, for a total value of $295,850.73. Following the transaction, the insider now owns 11,161 shares of the company’s stock, valued at $3,516,496.27. This trade represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MCD shares. TD Securities reissued a “hold” rating and issued a $305.00 target price on shares of McDonald’s in a research note on Thursday, June 5th. Barclays increased their target price on McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Argus cut McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday. Northcoast Research cut McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 6th. Finally, Truist Financial set a $350.00 target price on McDonald’s in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, McDonald’s currently has a consensus rating of “Hold” and an average price target of $321.79.

McDonald’s Company 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.