King Wealth Management Group Cuts Stock Holdings in McDonald’s Co. (NYSE:MCD)

King Wealth Management Group lowered its stake in McDonald’s Co. (NYSE:MCD) by 27.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,140 shares of the fast-food giant’s stock after selling 10,807 shares during the period. McDonald’s makes up approximately 1.2% of King Wealth Management Group’s holdings, making the stock its 23rd largest holding. King Wealth Management Group’s holdings in McDonald’s were worth $8,447,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Legacy Investment Solutions LLC bought a new stake in McDonald’s in the third quarter valued at approximately $25,000. Atala Financial Inc purchased a new position in shares of McDonald’s in the fourth quarter worth $26,000. Comprehensive Financial Planning Inc. PA bought a new stake in McDonald’s during the 4th quarter valued at $27,000. Collier Financial purchased a new stake in McDonald’s during the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC grew its holdings in McDonald’s by 110.0% in the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock worth $30,000 after acquiring an additional 55 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MCD. Morgan Stanley increased their target price on shares of McDonald’s from $336.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Bank of America upped their price target on McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Piper Sandler cut their price objective 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. JPMorgan Chase & Co. upped their target price on McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Robert W. Baird lifted their price target on shares of McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $323.61.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 3,409 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $290.15, for a total value of $989,121.35. Following the completion of the transaction, the executive vice president now owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. The trade was a 26.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $291.10, for a total transaction of $319,918.90. Following the sale, the insider now directly owns 8,187 shares in the company, valued at approximately $2,383,235.70. The trade was a 11.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,504 shares of company stock valued at $10,206,575. 0.23% of the stock is owned by corporate insiders.

McDonald’s Trading Down 0.7 %

McDonald’s stock opened at $297.45 on Friday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $326.32. The business’s fifty day simple moving average is $296.86 and its two-hundred day simple moving average is $296.71. The company has a market capitalization of $212.52 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71.

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 research analysts predict that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $1.77 dividend. The ex-dividend date is Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a yield of 2.38%. McDonald’s’s payout ratio is currently 62.16%.

McDonald’s Profile

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.