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

Prestige Wealth Management Group LLC lifted its stake in McDonald’s Co. (NYSE:MCD) by 4.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,871 shares of the fast-food giant’s stock after acquiring an additional 111 shares during the period. Prestige Wealth Management Group LLC’s holdings in McDonald’s were worth $832,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in McDonald’s in the 3rd quarter valued at $25,000. Atala Financial Inc acquired a new position in McDonald’s in the 4th quarter valued at approximately $26,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of McDonald’s during the 4th quarter worth approximately $27,000. Collier Financial bought a new stake in shares of McDonald’s during the fourth quarter valued at approximately $29,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of McDonald’s in the third quarter valued at $31,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Price Performance

NYSE MCD opened at $305.85 on Tuesday. The business has a fifty day moving average price of $299.21 and a two-hundred day moving average price of $297.65. The stock has a market capitalization of $218.52 billion, a PE ratio of 26.85, a PEG ratio of 3.10 and a beta of 0.71. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. As a group, sell-side analysts expect that McDonald’s Co. will post 12.25 earnings per share for the current 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 issued a dividend of $1.77 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a yield of 2.31%. McDonald’s’s payout ratio is currently 62.16%.

Analysts Set New Price Targets

A number of research firms have recently commented on MCD. KeyCorp raised their price objective on shares of McDonald’s from $320.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Piper Sandler reduced their target price on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Robert W. Baird increased their target price on shares of McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 11th. Wedbush boosted their price target on shares of McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Finally, Bank of America boosted their target price on McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Nine equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $323.39.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total value of $436,134.05. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $453,882. The trade was a 49.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the transaction, the executive vice president now owns 9,675 shares of the company’s stock, valued at $2,807,201.25. This represents a 26.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,405 shares of company stock valued at $9,886,656. 0.23% of the stock is currently owned by company insiders.

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.