Steele Capital Management Inc. Makes New Investment in McDonald’s Co. (NYSE:MCD)

Steele Capital Management Inc. acquired a new position in shares of McDonald’s Co. (NYSE:MCD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,471 shares of the fast-food giant’s stock, valued at approximately $733,000.

A number of other hedge funds have also recently bought and sold shares of MCD. Blue Bell Private Wealth Management LLC raised its stake in shares of 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 purchasing an additional 42 shares during the period. Spartan Planning & Wealth Management bought a new stake in McDonald’s in the 3rd quarter valued at about $33,000. Keener Financial Planning LLC bought a new stake in McDonald’s in the 4th quarter valued at about $39,000. Bear Mountain Capital Inc. bought a new stake in McDonald’s in the 4th quarter valued at about $43,000. Finally, Authentikos Wealth Advisory LLC bought a new stake in shares of McDonald’s during the third quarter valued at about $45,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the transaction, the insider now directly owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the transaction, 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 this link. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the transaction, the insider now directly owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

McDonald’s Stock Performance

Shares of NYSE MCD traded up $0.48 during midday trading on Monday, reaching $273.57. The stock had a trading volume of 3,184,201 shares, compared to its average volume of 3,269,845. The stock has a 50-day moving average of $281.68 and a 200-day moving average of $281.96. The company has a market capitalization of $197.25 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 2.98 and a beta of 0.71. McDonald’s Co. has a 12-month low of $245.73 and a 12-month 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 net margin of 33.22% and a negative return on equity of 171.96%. The business had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.45 billion. During the same period last year, the firm posted $2.59 EPS. The company’s revenue was up 8.1% on a year-over-year basis. As a group, analysts forecast that McDonald’s Co. will post 12.34 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Thursday, February 29th. McDonald’s’s dividend payout ratio is presently 57.74%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barclays cut their price objective on McDonald’s from $343.00 to $340.00 and set an “overweight” rating for the company in a report on Tuesday, February 6th. Oppenheimer restated a “market perform” rating on shares of McDonald’s in a report on Friday, January 5th. Wedbush decreased their price objective on McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a report on Friday. Bank of America increased their price objective on McDonald’s from $291.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Finally, TD Cowen reiterated a “buy” rating and issued a $325.00 price objective on shares of McDonald’s in a report on Wednesday, April 10th. Nine analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and an average target price of $318.41.

McDonald’s 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.