Prestige Wealth Management Group LLC Acquires 111 Shares of McDonald’s Co. (NYSE:MCD)

Prestige Wealth Management Group LLC lifted its holdings in McDonald’s Co. (NYSE:MCD) by 4.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,871 shares of the fast-food giant’s stock after acquiring an additional 111 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in McDonald’s were worth $832,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in McDonald’s during the 3rd quarter valued at about $25,000. Atala Financial Inc purchased a new stake in shares of McDonald’s during the fourth quarter valued at approximately $26,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of McDonald’s in the fourth quarter worth approximately $27,000. Collier Financial purchased a new position in shares of McDonald’s in the fourth quarter worth $29,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in McDonald’s during the 3rd quarter valued at $31,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Bank of America raised their target price on McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Barclays raised their target price on shares of McDonald’s from $347.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Robert W. Baird raised their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Loop Capital restated a “buy” rating and set a $342.00 price target on shares of McDonald’s in a research report on Friday, January 3rd. Finally, Truist Financial dropped their target price on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $323.39.

McDonald’s Stock Up 0.1 %

Shares of MCD opened at $305.85 on Tuesday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $326.32. The stock has a market cap of $218.52 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 3.10 and a beta of 0.71. The business has a 50-day simple moving average of $299.21 and a two-hundred day simple moving average of $297.65.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. On average, equities analysts anticipate that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $1.77 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $7.08 annualized dividend and a yield of 2.31%. McDonald’s’s payout ratio is 62.16%.

Insider Activity at McDonald’s

In other news, CMO Edith Morgan Flatley sold 3,200 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $300.76, for a total value of $962,432.00. Following the sale, the chief marketing officer now directly owns 9,858 shares in the company, valued at approximately $2,964,892.08. This represents a 24.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the transaction, the chief executive officer now owns 32,756 shares of the company’s stock, valued at approximately $10,155,997.80. The trade was a 24.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,405 shares of company stock valued at $9,886,656. Corporate insiders own 0.23% of the company’s stock.

About McDonald’s

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.