PCG Asset Management LLC Buys New Position in McDonald’s Co. (NYSE:MCD)

PCG Asset Management LLC purchased a new position in shares of McDonald’s Co. (NYSE:MCD) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,588 shares of the fast-food giant’s stock, valued at approximately $750,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Legacy Investment Solutions LLC purchased a new position in McDonald’s during the third quarter valued at $25,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of McDonald’s in the fourth quarter worth about $27,000. Collier Financial bought a new position in shares of McDonald’s in the fourth quarter worth about $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of McDonald’s during the 3rd quarter valued at approximately $31,000. Finally, Marshall Investment Management LLC purchased a new stake in McDonald’s in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Down 0.6 %

Shares of NYSE:MCD opened at $308.17 on Friday. The company has a market cap of $220.18 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 3.10 and a beta of 0.74. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The company has a 50-day moving average price of $294.06 and a 200 day moving average price of $295.27.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) 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%. As a group, equities analysts forecast that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Monday, March 3rd. McDonald’s’s payout ratio is 62.16%.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated 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 directly owns 8,187 shares in the company, valued at approximately $2,383,235.70. This represents a 11.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total transaction of $436,134.05. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $453,882. The trade was a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,504 shares of company stock worth $10,206,575 over the last quarter. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MCD shares. BMO Capital Markets lifted their price target on shares of McDonald’s from $335.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Bank of America lifted their target price on shares of McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Piper Sandler cut their price target on McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. raised their price target on McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Wedbush upped their price objective on McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and a consensus target price of $323.61.

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.