Centricity Wealth Management LLC Invests $177,000 in McDonald’s Co. (NYSE:MCD)

Centricity Wealth Management LLC purchased a new stake in McDonald’s Co. (NYSE:MCD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 609 shares of the fast-food giant’s stock, valued at approximately $177,000.

Other hedge funds have also added to or reduced their stakes in the company. Waterfront Wealth Inc. boosted its holdings in McDonald’s by 1.9% during the 4th quarter. Waterfront Wealth Inc. now owns 5,599 shares of the fast-food giant’s stock worth $1,623,000 after acquiring an additional 105 shares during the last quarter. Financial Harvest LLC bought a new position in shares of McDonald’s during the fourth quarter valued at about $212,000. Nicholson Wealth Management Group LLC boosted its holdings in McDonald’s by 65.1% during the fourth quarter. Nicholson Wealth Management Group LLC now owns 6,391 shares of the fast-food giant’s stock worth $1,853,000 after purchasing an additional 2,520 shares during the last quarter. Tandem Investment Advisors Inc. boosted its holdings in McDonald’s by 9.4% during the fourth quarter. Tandem Investment Advisors Inc. now owns 782 shares of the fast-food giant’s stock worth $227,000 after purchasing an additional 67 shares during the last quarter. Finally, Capital Investment Counsel Inc grew its position in McDonald’s by 1.7% in the 4th quarter. Capital Investment Counsel Inc now owns 5,924 shares of the fast-food giant’s stock worth $1,717,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MCD shares. TD Cowen restated a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a research note on Tuesday, October 29th. Truist Financial reduced their price objective on McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Wedbush lifted their target price on McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Morgan Stanley increased their price target on shares of McDonald’s from $336.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Finally, Loop Capital restated a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a report on Friday, January 3rd. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and a consensus target price of $323.61.

McDonald’s Price Performance

NYSE MCD opened at $302.89 on Friday. The company’s 50 day simple moving average is $292.45 and its two-hundred day simple moving average is $293.51. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The stock has a market capitalization of $217.06 billion, a PE ratio of 26.59, a P/E/G ratio of 3.09 and a beta of 0.74.

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

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 2.34%. The ex-dividend date is Monday, March 3rd. McDonald’s’s payout ratio is 62.16%.

Insider Buying and Selling

In other news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total transaction of $436,134.05. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $453,882. The trade was a 49.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $291.10, for a total value of $319,918.90. Following the transaction, the insider now owns 8,187 shares in the company, valued at $2,383,235.70. This trade represents a 11.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,106 shares of company stock worth $6,368,814. Insiders own 0.23% of the company’s stock.

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.