McDonald’s Co. (NYSE:MCD) Shares Sold by Castle Wealth Management LLC

Castle Wealth Management LLC cut its holdings in shares of McDonald’s Co. (NYSE:MCD) by 29.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,752 shares of the fast-food giant’s stock after selling 731 shares during the period. Castle Wealth Management LLC’s holdings in McDonald’s were worth $508,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kennebec Savings Bank acquired a new stake in shares of McDonald’s during the third quarter valued at approximately $1,394,000. YANKCOM Partnership acquired a new stake in shares of McDonald’s during the fourth quarter valued at approximately $1,628,000. Charles Schwab Investment Management Inc. raised its holdings in shares of McDonald’s by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after acquiring an additional 49,106 shares during the period. U.S. Capital Wealth Advisors LLC raised its holdings in shares of McDonald’s by 6.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after acquiring an additional 2,997 shares during the period. Finally, PFW Advisors LLC acquired a new stake in shares of McDonald’s during the fourth quarter valued at approximately $2,471,000. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Trading Down 0.9 %

NYSE MCD opened at $307.47 on Thursday. The company has a fifty day simple moving average of $291.33 and a 200 day simple moving average of $291.97. The company has a market cap of $220.34 billion, a P/E ratio of 26.99, a P/E/G ratio of 4.08 and a beta of 0.74. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90.

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, hitting the consensus estimate of $2.83. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. Equities research analysts forecast that McDonald’s Co. will post 11.73 EPS for the current fiscal year.

McDonald’s Announces Dividend

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 dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, March 3rd. McDonald’s’s dividend payout ratio is currently 62.16%.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $291.10, for a total value of $319,918.90. Following the completion of the sale, the insider now directly owns 8,187 shares of the company’s stock, valued at $2,383,235.70. This represents a 11.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction 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 directly owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,406 shares of company stock valued at $2,150,857. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MCD shares. Citigroup boosted their price target on shares of McDonald’s from $336.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler dropped their price objective on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Loop Capital reiterated a “buy” rating and issued a $342.00 price objective on shares of McDonald’s in a research note on Friday, January 3rd. TD Securities reiterated a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research note on Monday. Finally, Truist Financial dropped their price objective on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $323.61.

McDonald’s 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, Russia, Spain, and the U.K.