Congress Wealth Management LLC DE Lowers Stock Holdings in McDonald’s Co. (NYSE:MCD)

Congress Wealth Management LLC DE trimmed its position in McDonald’s Co. (NYSE:MCD) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,644 shares of the fast-food giant’s stock after selling 1,478 shares during the quarter. Congress Wealth Management LLC DE’s holdings in McDonald’s were worth $20,479,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MCD. Legacy Investment Solutions LLC purchased a new stake in McDonald’s in the third quarter valued at approximately $25,000. Atala Financial Inc purchased a new stake in McDonald’s in the fourth quarter valued at approximately $26,000. Comprehensive Financial Planning Inc. PA purchased a new stake in McDonald’s in the fourth quarter valued at approximately $27,000. Collier Financial purchased a new stake in McDonald’s in the fourth quarter valued at approximately $29,000. Finally, Fairway Wealth LLC raised its stake in McDonald’s by 110.0% in the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock valued at $30,000 after purchasing an additional 55 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Down 0.6 %

NYSE:MCD opened at $305.07 on Monday. The stock has a market cap of $217.96 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71. The firm’s fifty day simple moving average is $298.75 and its 200 day simple moving average is $297.53. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $326.32.

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

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.32%. The ex-dividend date was Monday, March 3rd. McDonald’s’s dividend payout ratio is currently 62.16%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MCD. Citigroup raised their target price on shares of McDonald’s from $336.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Erste Group Bank raised shares of McDonald’s from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. JPMorgan Chase & Co. lifted their price target on shares of McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Truist Financial decreased their price target on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a research note 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 stock a “neutral” 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $323.39.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 300 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the completion of the transaction, the insider now 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher J. Kempczinski sold 10,500 shares of McDonald’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total value 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 approximately $10,155,997.80. This represents a 24.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,405 shares of company stock valued at $9,886,656. 0.23% of the stock is currently owned by company insiders.

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.