KFG Wealth Management LLC Sells 98 Shares of McDonald’s Co. (NYSE:MCD)

KFG Wealth Management LLC lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,413 shares of the fast-food giant’s stock after selling 98 shares during the period. KFG Wealth Management LLC’s holdings in McDonald’s were worth $754,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Granite Bay Wealth Management LLC grew its position in McDonald’s by 3.5% during the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant’s stock worth $309,000 after buying an additional 33 shares in the last quarter. Northeast Financial Consultants Inc raised its holdings in McDonald’s by 0.5% in the 4th quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant’s stock valued at $2,170,000 after acquiring an additional 34 shares in the last quarter. Tealwood Asset Management Inc. lifted its position in shares of McDonald’s by 0.4% during the 1st quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant’s stock valued at $2,535,000 after acquiring an additional 34 shares during the period. Pettee Investors Inc. grew its holdings in shares of McDonald’s by 0.7% during the 4th quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock worth $1,566,000 after purchasing an additional 35 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of McDonald’s by 4.1% in the fourth quarter. Covestor Ltd now owns 899 shares of the fast-food giant’s stock worth $261,000 after purchasing an additional 35 shares during the period. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total transaction of $295,850.73. Following the completion of the transaction, the insider now directly owns 11,161 shares of the company’s stock, valued at $3,516,496.27. This trade represents a 7.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Loop Capital cut shares of McDonald’s from a “buy” rating to a “hold” rating and dropped their target price for the company from $346.00 to $315.00 in a research report on Friday. Wedbush upped their price target 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. Truist Financial set a $350.00 price objective on shares of McDonald’s in a research note on Friday, May 2nd. Finally, Robert W. Baird boosted their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Thirteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $324.96.

McDonald’s Trading Down 0.5%

NYSE:MCD opened at $307.44 on Friday. The stock’s 50-day moving average is $312.29 and its 200-day moving average is $302.57. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $326.32. The stock has a market cap of $219.83 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 3.10 and a beta of 0.56.

McDonald’s (NYSE:MCD) last posted its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting the consensus estimate of $2.67. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. During the same period last year, the company earned $2.70 EPS. The firm’s revenue was down 3.5% compared to the same quarter last year. As a group, equities analysts forecast that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.30%. McDonald’s’s dividend payout ratio (DPR) is presently 62.49%.

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.