Townsquare Capital LLC Has $16.68 Million Stock Position in McDonald’s Co. (NYSE:MCD)

27 Nov 2024, 17:34 by Michael Walen · The Markets Daily

Townsquare Capital LLC grew its stake in McDonald’s Co. (NYSE:MCD – Free Report) by 3.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 54,780 shares of the fast-food giant’s stock after buying an additional 2,038 shares during the period. Townsquare Capital LLC’s holdings in McDonald’s were worth $16,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of MCD. Hara Capital LLC acquired a new stake in shares of McDonald’s during the 3rd quarter worth about $44,000. Kings Path Partners LLC bought a new stake in shares of McDonald’s during the second quarter worth $38,000. Peterson Financial Group Inc. bought a new stake in shares of McDonald’s during the third quarter worth approximately $58,000. Opal Wealth Advisors LLC bought a new position in shares of McDonald’s in the 2nd quarter worth $59,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of McDonald’s in the 2nd quarter valued at approximately $65,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This trade represents a 19.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. The trade was a 48.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,597 shares of company stock valued at $10,702,754 in the last ninety days. 0.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MCD shares. Truist Financial cut their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Guggenheim cut McDonald’s from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $290.00 to $285.00 in a report on Wednesday, October 23rd. Citigroup upped their price target on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Barclays raised their price objective on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average price target of $319.46.

Get Our Latest Research Report on McDonald’s

McDonald’s Stock Performance

McDonald’s stock opened at $296.31 on Wednesday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The firm’s 50-day simple moving average is $299.90 and its 200 day simple moving average is $278.55. The stock has a market cap of $212.34 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 3.94 and a beta of 0.74.

McDonald’s (NYSE:MCD – Get Free Report) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.19 earnings per share. As a group, analysts predict that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is 58.65%.

McDonald’s Company Profile

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