Zullo Investment Group Inc. Sells 293 Shares of McDonald’s Co. (NYSE:MCD)

Zullo Investment Group Inc. decreased its position in McDonald’s Co. (NYSE:MCD) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,316 shares of the fast-food giant’s stock after selling 293 shares during the quarter. Zullo Investment Group Inc.’s holdings in McDonald’s were worth $1,831,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MCD. Legacy Investment Solutions LLC bought a new stake in McDonald’s during the 3rd quarter valued at approximately $25,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of McDonald’s during the fourth quarter worth approximately $27,000. Collier Financial bought a new stake in shares of McDonald’s in the fourth quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of McDonald’s in the third quarter worth $31,000. Finally, Hara Capital LLC bought a new position in McDonald’s during the third quarter worth $44,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on MCD. JPMorgan Chase & Co. increased their price target on shares of McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Piper Sandler reduced their target price on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. KeyCorp boosted their price target on McDonald’s from $320.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. TD Cowen reiterated a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research report on Tuesday, October 29th. Finally, Wedbush boosted their price objective on McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $323.61.

Insiders Place Their Bets

In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of McDonald’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the sale, the executive vice president now owns 9,675 shares in the company, valued at $2,807,201.25. The trade was a 26.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,106 shares of company stock valued at $6,368,814. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Stock Performance

McDonald’s stock opened at $301.71 on Thursday. The business’s fifty day moving average is $292.32 and its two-hundred day moving average is $293.44. The firm has a market cap of $216.21 billion, a P/E ratio of 26.49, a P/E/G ratio of 3.12 and a beta of 0.74. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90.

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

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.35%. The ex-dividend date is Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

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.