ProVise Management Group LLC Has $955,000 Holdings in McDonald’s Co. (NYSE:MCD)

ProVise Management Group LLC cut its position in McDonald’s Co. (NYSE:MCD) by 33.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,294 shares of the fast-food giant’s stock after selling 1,683 shares during the quarter. ProVise Management Group LLC’s holdings in McDonald’s were worth $955,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCD. Legacy Investment Solutions LLC bought a new stake in McDonald’s in the 3rd quarter valued at $25,000. Atala Financial Inc bought a new stake in McDonald’s in the 4th quarter valued at $26,000. Comprehensive Financial Planning Inc. PA bought a new stake in McDonald’s in the 4th quarter valued at $27,000. Collier Financial bought a new stake in McDonald’s in the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC lifted its holdings in shares of McDonald’s by 110.0% during 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 period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McDonald’s

In related news, CEO Christopher J. Kempczinski sold 10,500 shares of McDonald’s stock in a transaction that occurred 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 transaction, the chief executive officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $291.10, for a total transaction of $319,918.90. Following the transaction, the insider now directly owns 8,187 shares in the company, valued at $2,383,235.70. The trade was a 11.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,504 shares of company stock worth $10,206,575 in the last quarter. 0.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MCD. Bank of America raised their price objective on shares of McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Piper Sandler reduced their price objective on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. BMO Capital Markets raised their price objective on shares of McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Truist Financial reduced their price objective on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Finally, Wedbush raised their price objective on shares of McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Nine analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and an average price target of $323.39.

McDonald’s Trading Up 1.1 %

MCD opened at $306.83 on Thursday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $326.32. The firm has a 50-day moving average price of $297.89 and a two-hundred day moving average price of $297.19. The stock has a market capitalization of $219.21 billion, a PE ratio of 26.94, a PEG ratio of 3.10 and a beta of 0.71.

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

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $1.77 per share. 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 is 62.16%.

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.