Onyx Bridge Wealth Group LLC Decreases Stake in McDonald’s Co. (NYSE:MCD)

Onyx Bridge Wealth Group LLC reduced its stake in McDonald’s Co. (NYSE:MCD) by 4.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,082 shares of the fast-food giant’s stock after selling 45 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in McDonald’s were worth $314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCD. Legacy Investment Solutions LLC purchased a new position in McDonald’s during the 3rd quarter worth approximately $25,000. RPg Family Wealth Advisory LLC purchased a new position in McDonald’s during the 3rd quarter worth approximately $31,000. Hara Capital LLC purchased a new position in McDonald’s during the 3rd quarter worth approximately $44,000. Financial Life Planners purchased a new position in McDonald’s during the 4th quarter worth approximately $49,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of McDonald’s during the 3rd quarter valued at approximately $58,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total value of $436,134.05. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $453,882. This represents a 49.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 300 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total transaction of $84,225.00. Following the completion of the transaction, the insider now directly owns 7,887 shares in the company, valued at $2,214,275.25. The trade was a 3.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,406 shares of company stock valued at $2,150,857. 0.23% of the stock is owned by company insiders.

McDonald’s Trading Up 1.9 %

Shares of MCD opened at $294.37 on Friday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The firm has a 50-day moving average price of $290.75 and a 200 day moving average price of $290.37. The firm has a market capitalization of $210.95 billion, a P/E ratio of 25.84, a P/E/G ratio of 3.83 and a beta of 0.74.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.41%. McDonald’s’s dividend payout ratio is currently 62.16%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MCD. Piper Sandler cut their target price on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a report on Tuesday. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and cut their target price for the company from $290.00 to $285.00 in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Truist Financial cut their target price on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, TD Cowen reaffirmed a “hold” rating and set a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and a consensus target price of $318.86.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.