McDonald’s Co. (NYSE:MCD) Shares Sold by Convergence Financial LLC

Convergence Financial LLC lowered its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,549 shares of the fast-food giant’s stock after selling 44 shares during the quarter. Convergence Financial LLC’s holdings in McDonald’s were worth $449,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCD. Legacy Investment Solutions LLC acquired a new stake in shares of McDonald’s in the 3rd quarter valued at about $25,000. Comprehensive Financial Planning Inc. PA acquired a new stake in McDonald’s during the fourth quarter valued at approximately $27,000. Collier Financial bought a new position in McDonald’s during the 4th quarter worth approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in McDonald’s during the 3rd quarter worth approximately $31,000. Finally, Marshall Investment Management LLC acquired a new position in shares of McDonald’s in the 4th quarter worth approximately $37,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Down 2.2 %

NYSE:MCD opened at $304.02 on Thursday. The stock has a fifty day simple moving average of $293.36 and a 200 day simple moving average of $294.72. The firm has a market capitalization of $217.87 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 3.10 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 released its earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. Equities analysts predict that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $1.77 dividend. The ex-dividend date is Monday, March 3rd. This represents a $7.08 annualized dividend and a dividend yield of 2.33%. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Insider Activity

In related news, CEO Christopher J. Kempczinski sold 10,500 shares of the business’s stock in a transaction that occurred on 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. The trade was a 24.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $291.10, for a total transaction of $319,918.90. Following the completion of the sale, the insider now owns 8,187 shares of the company’s stock, valued at approximately $2,383,235.70. The trade was a 11.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,504 shares of company stock worth $9,897,305. 0.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MCD shares. Citigroup raised their price objective on McDonald’s from $336.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. TD Securities reaffirmed a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research report on Monday, February 10th. KeyCorp raised their target price on shares of McDonald’s from $320.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Truist Financial dropped their target price on McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Finally, Robert W. Baird lifted their price target on McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, McDonald’s currently 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, Spain, and the U.K.