Private Management Group Inc. Has $1.18 Million Holdings in McDonald’s Co. (NYSE:MCD)

Private Management Group Inc. lessened its holdings in McDonald’s Co. (NYSE:MCD) by 14.4% in the 4th quarter, Holdings Channel reports. The firm owned 4,071 shares of the fast-food giant’s stock after selling 683 shares during the quarter. Private Management Group Inc.’s holdings in McDonald’s were worth $1,180,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Steigerwald Gordon & Koch Inc. raised its position in shares of McDonald’s by 2.4% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after purchasing an additional 33 shares during the period. Riversedge Advisors LLC raised its position in shares of McDonald’s by 2.0% in the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after purchasing an additional 33 shares during the period. Proquility Private Wealth Partners LLC raised its position in shares of McDonald’s by 1.0% in the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after purchasing an additional 35 shares during the period. Clear Creek Financial Management LLC raised its position in shares of McDonald’s by 2.8% in the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after purchasing an additional 35 shares during the period. Finally, GDS Wealth Management raised its position in shares of McDonald’s by 1.4% in the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $291.10, for a total transaction of $319,918.90. Following the completion of the transaction, the insider now directly owns 8,187 shares in the company, valued at $2,383,235.70. This represents a 11.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total transaction of $436,134.05. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $453,882. This represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,406 shares of company stock worth $2,150,857 in the last three months. 0.23% of the stock is owned by corporate insiders.

McDonald’s Price Performance

MCD stock opened at $294.37 on Friday. The company has a 50 day simple moving average of $290.75 and a 200 day simple moving average of $290.37. The stock has a market cap of $210.95 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 3.83 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 Announces Dividend

The business also recently disclosed 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. This represents a $7.08 dividend on an annualized basis and a yield of 2.41%. McDonald’s’s dividend payout ratio is 62.16%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MCD shares. Truist Financial dropped their price objective on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Bank of America increased their price objective on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Guggenheim cut shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Finally, Evercore ISI lifted their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $318.86.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.