Legacy Wealth Asset Management LLC Invests $730,000 in McDonald’s Co. (NYSE:MCD)


Share on StockTwits

Legacy Wealth Asset Management LLC purchased a new position in McDonald’s Co. (NYSE:MCD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,403 shares of the fast-food giant’s stock, valued at approximately $730,000.

Several other hedge funds also recently bought and sold shares of MCD. Clark Financial Advisors bought a new position in shares of McDonald’s in the fourth quarter worth approximately $25,000. Catalyst Private Wealth LLC bought a new position in McDonald’s during the third quarter valued at approximately $27,000. DB Wealth Management Group LLC bought a new position in McDonald’s during the fourth quarter valued at approximately $28,000. MBM Wealth Consultants LLC bought a new position in McDonald’s during the fourth quarter valued at approximately $30,000. Finally, McCarthy Asset Management Inc. bought a new position in McDonald’s during the fourth quarter valued at approximately $31,000. Institutional investors own 66.25% of the company’s stock.

MCD stock opened at $232.61 on Thursday. McDonald’s Co. has a twelve month low of $167.85 and a twelve month high of $232.81. The stock has a market cap of $173.43 billion, a P/E ratio of 35.51, a PEG ratio of 3.17 and a beta of 0.58. The business’s 50-day moving average price is $216.84 and its 200-day moving average price is $216.02.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Wednesday, January 27th. The fast-food giant reported $1.70 EPS for the quarter, missing the Zacks’ consensus estimate of $1.77 by ($0.07). McDonald’s had a negative return on equity of 53.62% and a net margin of 25.60%. The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the prior year, the firm posted $1.97 earnings per share. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, equities analysts forecast that McDonald’s Co. will post 6.16 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Monday, March 1st were issued a $1.29 dividend. The ex-dividend date of this dividend was Friday, February 26th. This represents a $5.16 dividend on an annualized basis and a yield of 2.22%. McDonald’s’s dividend payout ratio is presently 65.82%.

A number of brokerages have commented on MCD. Oppenheimer upgraded shares of McDonald’s from a “market perform” rating to an “outperform” rating and set a $240.00 price target on the stock in a research report on Thursday, January 7th. Northcoast Research began coverage on shares of McDonald’s in a research report on Friday, December 18th. They set a “buy” rating and a $266.00 price target on the stock. Zacks Investment Research upgraded shares of McDonald’s from a “sell” rating to a “hold” rating and set a $218.00 price target on the stock in a research report on Tuesday, February 2nd. UBS Group upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and raised their target price for the stock from $230.00 to $240.00 in a report on Monday, December 14th. Finally, Robert W. Baird restated a “buy” rating on shares of McDonald’s in a report on Sunday, February 21st. Eight investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $232.70.

McDonald’s Company Profile

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products and beverages, as well as breakfast menu. As of December 31, 2020, the company operated 39,198 restaurants. McDonald's Corporation was founded in 1940 and is based in Chicago, Illinois.

See Also: Euro STOXX 50 Index

Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald’s Co. (NYSE:MCD).

Institutional Ownership by Quarter for McDonald`s (NYSE:MCD)

Receive News & Ratings for McDonald's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDonald's and related companies with MarketBeat.com's FREE daily email newsletter.