Naviter Wealth LLC Boosts Holdings in McDonald’s Co. (NYSE:MCD)

Naviter Wealth LLC lifted its stake in shares of McDonald’s Co. (NYSE:MCD) by 85.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,410 shares of the fast-food giant’s stock after acquiring an additional 4,330 shares during the quarter. Naviter Wealth LLC’s holdings in McDonald’s were worth $2,728,000 at the end of the most recent reporting period.

Other hedge funds 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 $25,000. Comprehensive Financial Planning Inc. PA purchased a new stake in McDonald’s in the fourth quarter valued at about $27,000. Collier Financial purchased a new stake in McDonald’s in the fourth quarter valued at about $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McDonald’s in the third quarter worth about $31,000. Finally, Marshall Investment Management LLC purchased a new position in shares of McDonald’s in the fourth quarter worth about $37,000. 70.29% of the stock is currently owned by institutional investors.

Insider Transactions at McDonald’s

In other news, EVP Manuel Jm Steijaert sold 10,459 shares of McDonald’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $308.71, for a total transaction of $3,228,797.89. Following the completion of the transaction, the executive vice president now directly owns 4,606 shares in the company, valued at $1,421,918.26. This trade represents a 69.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the transaction, the chief executive officer now owns 32,756 shares in the company, valued at approximately $10,155,997.80. This trade represents a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,504 shares of company stock valued at $10,206,575. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Up 3.6 %

Shares of NYSE MCD opened at $321.52 on Friday. The company’s fifty day moving average is $295.69 and its 200-day moving average is $296.25. The stock has a market cap of $229.71 billion, a price-to-earnings ratio of 28.23, a P/E/G ratio of 3.10 and a beta of 0.71. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $323.17.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share 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%. On average, research analysts anticipate that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Analyst Ratings Changes

Several brokerages have commented on MCD. Piper Sandler dropped their price objective on McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Loop Capital restated a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a research report on Friday, January 3rd. Citigroup boosted their price objective on McDonald’s from $336.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Morgan Stanley boosted their price objective on McDonald’s from $336.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, KeyCorp boosted their target price on McDonald’s from $320.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $323.61.

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.