ProVise Management Group LLC Sells 1,683 Shares of McDonald’s Co. (NYSE:MCD)

ProVise Management Group LLC lowered its stake in McDonald’s Co. (NYSE:MCD) by 33.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,294 shares of the fast-food giant’s stock after selling 1,683 shares during the period. ProVise Management Group LLC’s holdings in McDonald’s were worth $955,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in McDonald’s in the third quarter valued at approximately $25,000. Atala Financial Inc bought a new position in McDonald’s in the fourth quarter valued at approximately $26,000. Comprehensive Financial Planning Inc. PA bought a new position in McDonald’s in the fourth quarter valued at approximately $27,000. Collier Financial bought a new position in McDonald’s in the fourth quarter valued at approximately $29,000. Finally, Fairway Wealth LLC lifted its position in shares of 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 purchasing an additional 55 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of research reports. Citigroup boosted their price objective on shares of McDonald’s from $336.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Truist Financial cut 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 report on Tuesday, February 11th. Robert W. Baird boosted their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 11th. Erste Group Bank raised shares of McDonald’s from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Piper Sandler lowered their target price on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Nine equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.39.

McDonald’s Price Performance

NYSE:MCD opened at $306.83 on Thursday. McDonald’s Co. has a one year low of $243.53 and a one year high of $326.32. The company has a market cap of $219.21 billion, a P/E ratio of 26.94, a P/E/G ratio of 3.10 and a beta of 0.71. The firm’s fifty day moving average price is $297.89 and its two-hundred day moving average price is $297.19.

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

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Monday, March 3rd. McDonald’s’s dividend payout ratio is 62.16%.

Insider Buying and Selling

In related news, CEO Christopher J. Kempczinski sold 10,500 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the transaction, the chief executive officer now directly owns 32,756 shares of the company’s stock, valued at approximately $10,155,997.80. This trade represents a 24.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tiffanie L. Boyd sold 1,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $309.27, for a total transaction of $309,270.00. Following the sale, the executive vice president now owns 5,564 shares in the company, valued at $1,720,778.28. The trade was a 15.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,504 shares of company stock valued at $10,206,575. 0.23% of the stock is owned by company insiders.

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.