Trueblood Wealth Management LLC Invests $2 Million in McDonald’s Co. (NYSE:MCD)

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

A number of other large investors also recently made changes to their positions in MCD. Blue Bell Private Wealth Management LLC increased its stake in McDonald’s by 51.9% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock worth $32,000 after acquiring an additional 42 shares during the period. Spartan Planning & Wealth Management bought a new position in McDonald’s during the 3rd quarter worth $33,000. Retirement Group LLC bought a new position in McDonald’s during the 4th quarter worth $37,000. Authentikos Wealth Advisory LLC bought a new position in McDonald’s during the 3rd quarter worth $45,000. Finally, Compass Wealth Management LLC bought a new position in McDonald’s during the 4th quarter worth $45,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE:MCD traded up $3.40 during midday trading on Wednesday, reaching $282.02. The company’s stock had a trading volume of 2,564,848 shares, compared to its average volume of 3,185,269. The firm has a market capitalization of $203.63 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 3.01 and a beta of 0.72. The firm has a 50 day moving average price of $290.82 and a two-hundred day moving average price of $280.92. McDonald’s Co. has a fifty-two week low of $245.73 and a fifty-two week high of $302.39.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, February 5th. The fast-food giant reported $2.95 earnings per share (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 company had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same period in the previous year, the business earned $2.59 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. As a group, research analysts anticipate that McDonald’s Co. will post 12.38 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given 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 payout ratio is 57.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MCD shares. Citigroup decreased their price target 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. Oppenheimer reiterated a “market perform” rating on shares of McDonald’s in a research note on Friday, January 5th. Robert W. Baird reiterated an “outperform” rating and issued a $315.00 price target on shares of McDonald’s in a research note on Tuesday, February 6th. Stifel Nicolaus lifted their price target on McDonald’s from $285.00 to $322.00 and gave the company a “hold” rating in a research note on Thursday, January 4th. Finally, Truist Financial decreased their price target on McDonald’s from $345.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Eight investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $320.60.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

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.