Destination Wealth Management Sells 1,354 Shares of McDonald’s Co. (NYSE:MCD)

Destination Wealth Management cut its position in shares of McDonald’s Co. (NYSE:MCD) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,077 shares of the fast-food giant’s stock after selling 1,354 shares during the quarter. Destination Wealth Management’s holdings in McDonald’s were worth $23,793,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in McDonald’s during the 3rd quarter valued at about $25,000. Comprehensive Financial Planning Inc. PA purchased a new stake in McDonald’s during the 4th quarter valued at about $27,000. Collier Financial purchased a new stake in McDonald’s in the 4th quarter worth approximately $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McDonald’s in the 3rd quarter worth approximately $31,000. Finally, Marshall Investment Management LLC purchased a new stake in McDonald’s in the 4th quarter worth approximately $37,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Performance

Shares of MCD opened at $310.54 on Friday. The company has a market capitalization of $221.87 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 3.10 and a beta of 0.71. The company’s 50 day simple moving average is $295.13 and its 200 day simple moving average is $296.01. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. Equities analysts expect that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.28%. The ex-dividend date is Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

Analysts Set New Price Targets

MCD has been the subject of several research reports. Wedbush increased their target price on McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. TD Securities reissued a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a research report on Monday, February 10th. Morgan Stanley increased their target price on McDonald’s from $336.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Citigroup increased their target price on McDonald’s from $336.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. increased their target price on McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $323.61.

Insiders Place Their Bets

In other McDonald’s news, CEO Christopher J. Kempczinski sold 10,500 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the completion of the transaction, the chief executive officer now directly owns 32,756 shares of the company’s stock, valued at $10,155,997.80. This trade represents a 24.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Edith Morgan Flatley sold 3,200 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $300.76, for a total transaction of $962,432.00. Following the transaction, the chief marketing officer now directly owns 9,858 shares of the company’s stock, valued at approximately $2,964,892.08. This represents a 24.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,504 shares of company stock valued at $10,206,575 in the last ninety days. 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.