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.
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.
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