King Wealth Management Group Sells 10,807 Shares of McDonald’s Co. (NYSE:MCD)

King Wealth Management Group cut its position in McDonald’s Co. (NYSE:MCD) by 27.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,140 shares of the fast-food giant’s stock after selling 10,807 shares during the period. McDonald’s accounts for approximately 1.2% of King Wealth Management Group’s investment portfolio, making the stock its 23rd biggest holding. King Wealth Management Group’s holdings in McDonald’s were worth $8,447,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MCD. Raymond James Financial Inc. acquired a new position in shares of McDonald’s during the fourth quarter worth approximately $703,074,000. Caisse DE Depot ET Placement DU Quebec increased its stake in McDonald’s by 542.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock valued at $244,174,000 after purchasing an additional 677,139 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in McDonald’s by 43,591.6% during the fourth quarter. Proficio Capital Partners LLC now owns 590,711 shares of the fast-food giant’s stock worth $171,241,000 after buying an additional 589,359 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of McDonald’s in the third quarter valued at $121,254,000. Finally, Commerzbank Aktiengesellschaft FI grew its holdings in shares of McDonald’s by 518.1% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 348,119 shares of the fast-food giant’s stock valued at $100,916,000 after buying an additional 291,802 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Activity at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the transaction, the chief executive officer now owns 32,756 shares of the company’s stock, valued at $10,155,997.80. The trade was a 24.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 300 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the sale, the insider now 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 90 days, insiders sold 33,504 shares of company stock valued at $10,206,575. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Down 0.7 %

Shares of NYSE:MCD opened at $297.45 on Friday. The firm has a market capitalization of $212.52 billion, a PE ratio of 26.11, a P/E/G ratio of 3.10 and a beta of 0.71. The company has a 50-day moving average price of $296.86 and a two-hundred day moving average price of $296.71. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 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%. Analysts anticipate that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $1.77 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $7.08 annualized dividend and a yield of 2.38%. McDonald’s’s dividend payout ratio is currently 62.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MCD shares. Barclays upped their target price on shares of McDonald’s from $347.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Piper Sandler lowered their price objective 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. Robert W. Baird lifted their target price on McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Morgan Stanley upped their price target on McDonald’s from $336.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Finally, Bank of America raised their price objective on McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Ten investment 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, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.