Forvis Mazars Wealth Advisors LLC Lowers Position in McDonald’s Co. (NYSE:MCD)

Forvis Mazars Wealth Advisors LLC trimmed its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,020 shares of the fast-food giant’s stock after selling 83 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in McDonald’s were worth $2,325,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Legacy Investment Solutions LLC acquired a new stake in shares of McDonald’s during the third quarter valued at about $25,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of McDonald’s during the 4th quarter worth approximately $27,000. Collier Financial acquired a new stake in McDonald’s in the 4th quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McDonald’s in the third quarter valued at approximately $31,000. Finally, Marshall Investment Management LLC acquired a new position in McDonald’s during the fourth quarter worth $37,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MCD shares. Morgan Stanley lifted their price objective on McDonald’s from $336.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. BMO Capital Markets lifted their target price on McDonald’s from $335.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Robert W. Baird increased their price target on shares of McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 11th. KeyCorp raised their price objective on shares of McDonald’s from $320.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Finally, Truist Financial cut their target price 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. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and an average target price of $323.61.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $304.76 on Monday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The firm has a market capitalization of $218.40 billion, a P/E ratio of 26.76, a P/E/G ratio of 3.10 and a beta of 0.74. The company’s fifty day moving average price is $292.61 and its 200 day moving average price is $294.10.

McDonald’s (NYSE:MCD) last posted its 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 negative return on equity of 181.63% and a net margin of 31.73%. On average, sell-side analysts anticipate that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.32%. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 8,187 shares of the company’s stock, valued at $2,383,235.70. This trade represents a 11.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 32,756 shares in the company, valued at $10,155,997.80. This represents a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,106 shares of company stock valued at $6,382,112. Insiders own 0.23% of the company’s stock.

McDonald’s Company 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.