Partners Wealth Management LLC Purchases New Holdings in McDonald’s Co. (NYSE:MCD)

Partners Wealth Management LLC purchased a new position in shares of McDonald’s Co. (NYSE:MCD) in the 4th quarter, Holdings Channel.com reports. The firm purchased 962 shares of the fast-food giant’s stock, valued at approximately $279,000.

Several other hedge funds have also recently modified their holdings of MCD. World Equity Group Inc. boosted its stake in shares of McDonald’s by 92.6% in the fourth quarter. World Equity Group Inc. now owns 11,422 shares of the fast-food giant’s stock valued at $3,311,000 after buying an additional 5,492 shares in the last quarter. Delta Financial Group Inc. acquired a new position in McDonald’s in the 4th quarter valued at about $760,000. Ascent Wealth Partners LLC lifted its stake in shares of McDonald’s by 51.5% during the 4th quarter. Ascent Wealth Partners LLC now owns 11,554 shares of the fast-food giant’s stock worth $3,349,000 after purchasing an additional 3,927 shares during the period. MONECO Advisors LLC increased its stake in shares of McDonald’s by 8.2% during the 4th quarter. MONECO Advisors LLC now owns 4,904 shares of the fast-food giant’s stock valued at $1,422,000 after acquiring an additional 371 shares during the last quarter. Finally, Elwood & Goetz Wealth Advisory Group LLC raised its stake in McDonald’s by 33.7% during the fourth quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 1,374 shares of the fast-food giant’s stock worth $398,000 after purchasing an additional 346 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MCD. Loop Capital reaffirmed a “buy” rating and issued a $342.00 price objective on shares of McDonald’s in a research note on Friday, January 3rd. Morgan Stanley raised their target price on McDonald’s from $336.00 to $340.00 and gave the company an “overweight” rating in a research note 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 on the stock in a research note on Tuesday, February 11th. KeyCorp lifted their target price on McDonald’s from $320.00 to $335.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Finally, Citigroup increased their price objective on shares of McDonald’s from $336.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $323.61.

Insider Buying and Selling

In related news, CEO Christopher J. Kempczinski sold 10,500 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 32,756 shares in the company, valued at approximately $10,155,997.80. This represents a 24.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $291.10, for a total transaction of $319,918.90. Following the transaction, the insider now owns 8,187 shares in the company, valued at $2,383,235.70. This represents a 11.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,106 shares of company stock valued at $6,382,112. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

MCD opened at $304.76 on Monday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The business has a 50 day moving average price of $292.61 and a two-hundred day moving average price of $294.10. The company has a market capitalization of $218.40 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 3.10 and a beta of 0.74.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, hitting analysts’ consensus estimates of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. Equities analysts expect that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, March 3rd. McDonald’s’s payout ratio is 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.