Prentice Wealth Management LLC Buys 122 Shares of McDonald’s Co. (NYSE:MCD)

Prentice Wealth Management LLC raised its position in shares of McDonald’s Co. (NYSE:MCD) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,397 shares of the fast-food giant’s stock after acquiring an additional 122 shares during the period. Prentice Wealth Management LLC’s holdings in McDonald’s were worth $695,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MCD. Caisse DE Depot ET Placement DU Quebec boosted its stake in McDonald’s by 542.9% in 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 during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of McDonald’s during the third quarter worth $121,254,000. Zurich Insurance Group Ltd FI boosted its position in shares of McDonald’s by 3,580.1% in the third quarter. Zurich Insurance Group Ltd FI now owns 268,650 shares of the fast-food giant’s stock valued at $81,807,000 after acquiring an additional 261,350 shares during the period. Strategic Financial Concepts LLC grew its stake in shares of McDonald’s by 26,948.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 227,752 shares of the fast-food giant’s stock valued at $66,023,000 after acquiring an additional 226,910 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in McDonald’s during the fourth quarter worth about $64,805,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD opened at $304.76 on Friday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The stock has a market capitalization of $218.40 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 3.09 and a beta of 0.74. The stock has a fifty day moving average of $292.61 and a 200-day moving average of $293.76.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, February 10th. The fast-food giant reported $2.83 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $7.08 annualized dividend and a yield of 2.32%. McDonald’s’s dividend payout ratio is presently 62.16%.

Analyst Ratings Changes

A number of research firms have issued reports on MCD. JPMorgan Chase & Co. boosted their price objective on shares of McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Bank of America boosted their price target on McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Truist Financial lowered their price objective on McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Robert W. Baird upped 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. Finally, Wedbush raised their price target on McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Ten research 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 currently has an average rating of “Moderate Buy” and an average price target of $323.61.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,099 shares of McDonald’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.60, for a total transaction of $334,755.40. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $475,176. The trade was a 41.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 300 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the sale, the insider now owns 7,887 shares of the company’s stock, valued at $2,214,275.25. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,205 shares of company stock valued at $6,703,569 in the last ninety days. 0.23% of the stock is currently owned by insiders.

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, Spain, and the U.K.