Heritage Wealth Advisors Reduces Position in McDonald’s Co. (NYSE:MCD)

Heritage Wealth Advisors reduced its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.6% during the 4th quarter, HoldingsChannel reports. The firm owned 110,231 shares of the fast-food giant’s stock after selling 2,926 shares during the quarter. McDonald’s comprises 1.6% of Heritage Wealth Advisors’ investment portfolio, making the stock its 26th biggest position. Heritage Wealth Advisors’ holdings in McDonald’s were worth $31,955,000 as of its most recent SEC filing.

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

McDonald’s Stock Performance

NYSE MCD opened at $307.01 on Wednesday. McDonald’s Co. has a one year low of $243.53 and a one year high of $326.32. The firm has a market cap of $219.35 billion, a PE ratio of 26.95, a P/E/G ratio of 3.10 and a beta of 0.71. The firm’s fifty day moving average is $299.72 and its two-hundred day moving average is $297.78.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. Research analysts predict that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Insider Activity

In related news, EVP Desiree Ralls-Morrison sold 3,409 shares of the company’s stock in a transaction on 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 300 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the sale, the insider now directly owns 7,887 shares of the company’s stock, valued at approximately $2,214,275.25. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,405 shares of company stock valued at $9,886,656 over the last quarter. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on MCD shares. Morgan Stanley dropped their price objective on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a report on Monday, March 17th. Robert W. Baird upped their price objective on McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. boosted their target price on McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Piper Sandler reduced their price target on McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Finally, KeyCorp upped their target price on shares of McDonald’s from $320.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $323.39.

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.