Centric Wealth Management Has $1.29 Million Position in McDonald’s Co. (NYSE:MCD)

Centric Wealth Management cut its stake in McDonald’s Co. (NYSE:MCD) by 19.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,434 shares of the fast-food giant’s stock after selling 1,088 shares during the quarter. Centric Wealth Management’s holdings in McDonald’s were worth $1,285,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in shares of McDonald’s during the 3rd quarter worth about $25,000. Atala Financial Inc acquired a new position in McDonald’s in the fourth quarter worth approximately $26,000. Comprehensive Financial Planning Inc. PA bought a new position in McDonald’s during the fourth quarter valued at approximately $27,000. Collier Financial acquired a new stake in McDonald’s in the fourth quarter valued at approximately $29,000. Finally, Fairway Wealth LLC grew its position in McDonald’s by 110.0% in the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock worth $30,000 after acquiring an additional 55 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MCD. Wedbush raised their price target on shares of McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Barclays boosted their price target on McDonald’s from $347.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Citigroup increased their price objective on McDonald’s from $336.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Truist Financial reduced their target price on McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Finally, TD Securities reiterated a “hold” rating and set a $300.00 price target on shares of McDonald’s in a report on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $323.61.

Insider Activity

In related news, insider Joseph M. Erlinger sold 300 shares of McDonald’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 of the company’s stock, valued at $2,214,275.25. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the sale, the chief executive officer now directly owns 32,756 shares of the company’s stock, valued at approximately $10,155,997.80. The trade was a 24.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,996 shares of company stock worth $8,897,534. Company insiders own 0.23% of the company’s stock.

McDonald’s Trading Up 1.8 %

MCD opened at $312.74 on Tuesday. The stock has a market cap of $223.44 billion, a PE ratio of 27.46, a P/E/G ratio of 3.10 and a beta of 0.71. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $326.32. The stock’s 50 day simple moving average is $302.16 and its 200-day simple moving average is $298.35.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. Equities analysts forecast that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Monday, March 3rd. McDonald’s’s payout ratio is 62.16%.

About McDonald’s

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.