Titleist Asset Management LLC Takes $455,000 Position in McDonald’s Co. (NYSE:MCD)

Posted by Defense World Staff on Sep 14th, 2023

Titleist Asset Management LLC acquired a new stake in shares of McDonald’s Co. (NYSE:MCD – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,629 shares of the fast-food giant’s stock, valued at approximately $455,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. First Fiduciary Investment Counsel Inc. raised its position in McDonald’s by 12.5% during the 1st quarter. First Fiduciary Investment Counsel Inc. now owns 900 shares of the fast-food giant’s stock worth $252,000 after purchasing an additional 100 shares during the last quarter. MBE Wealth Management LLC lifted its stake in shares of McDonald’s by 4.5% in the 1st quarter. MBE Wealth Management LLC now owns 1,825 shares of the fast-food giant’s stock valued at $510,000 after purchasing an additional 79 shares during the period. Avantax Advisory Services Inc. grew its stake in McDonald’s by 20.3% during the first quarter. Avantax Advisory Services Inc. now owns 43,252 shares of the fast-food giant’s stock worth $12,094,000 after purchasing an additional 7,312 shares during the period. Litman Gregory Wealth Management LLC acquired a new position in McDonald’s in the first quarter valued at approximately $315,000. Finally, Park Avenue Securities LLC lifted its position in shares of McDonald’s by 0.3% during the 1st quarter. Park Avenue Securities LLC now owns 19,390 shares of the fast-food giant’s stock valued at $5,422,000 after acquiring an additional 63 shares during the period. Institutional investors own 67.60% of the company’s stock.

Insider Buying and Selling

In other McDonald’s news, EVP Heidi B. Capozzi sold 688 shares of McDonald’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $282.54, for a total transaction of $194,387.52. Following the completion of the transaction, the executive vice president now owns 20,019 shares of the company’s stock, valued at approximately $5,656,168.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other McDonald’s news, EVP Heidi B. Capozzi sold 688 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $282.54, for a total value of $194,387.52. Following the completion of the transaction, the executive vice president now directly owns 20,019 shares of the company’s stock, valued at approximately $5,656,168.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $285.00, for a total transaction of $285,000.00. Following the transaction, the chief marketing officer now owns 929 shares of the company’s stock, valued at $264,765. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,149 shares of company stock valued at $5,257,201. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Guggenheim boosted their target price on McDonald’s from $325.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Barclays upped their price objective on shares of McDonald’s from $330.00 to $345.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. Citigroup boosted their target price on shares of McDonald’s from $308.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday, July 28th. Oppenheimer lifted their price target on McDonald’s from $315.00 to $330.00 in a research note on Friday, July 28th. Finally, StockNews.com started coverage on McDonald’s in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Five analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $323.17.

Check Out Our Latest Report on McDonald’s

McDonald’s Stock Up 0.4 %

Shares of NYSE:MCD opened at $281.77 on Thursday. The firm has a market capitalization of $205.34 billion, a PE ratio of 25.92, a P/E/G ratio of 2.71 and a beta of 0.64. The company has a 50-day moving average price of $288.05 and a two-hundred day moving average price of $285.84. McDonald’s Co. has a twelve month low of $230.58 and a twelve month high of $299.35.

McDonald’s (NYSE:MCD – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The fast-food giant reported $3.17 EPS for the quarter, topping the consensus estimate of $2.77 by $0.40. The company had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.30 billion. McDonald’s had a net margin of 33.06% and a negative return on equity of 139.57%. McDonald’s’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period last year, the firm earned $2.55 EPS. Analysts anticipate that McDonald’s Co. will post 11.49 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, September 1st will be paid a dividend of $1.52 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $6.08 dividend on an annualized basis and a dividend yield of 2.16%. McDonald’s’s payout ratio is 55.93%.

McDonald’s Profile

(Free Report)

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.