Forefront Wealth Management Inc. Buys New Holdings in McDonald's Co. (NYSE:MCD)

Forefront Wealth Management Inc. purchased a new position in shares of McDonald's Co. (NYSE:MCD - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 6,785 shares of the fast-food giant's stock, valued at approximately $1,967,000. McDonald's accounts for 1.8% of Forefront Wealth Management Inc.'s portfolio, making the stock its 25th largest holding.

Several other hedge funds also recently modified their holdings of MCD. Legacy Investment Solutions LLC purchased a new position in McDonald's in the third quarter valued at approximately $25,000. Atala Financial Inc bought a new stake in McDonald's in the 4th quarter valued at about $26,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of McDonald's during the 4th quarter valued at approximately $27,000. Collier Financial bought a new position in shares of McDonald's in the fourth quarter worth $29,000. Finally, Fairway Wealth LLC grew its holdings in McDonald's by 110.0% during the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant's stock valued at $30,000 after buying an additional 55 shares in the last quarter. Institutional investors own 70.29% of the company's stock.

Insider Activity at McDonald's

In related news, CEO Christopher J. Kempczinski sold 10,500 shares of McDonald's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total value of $3,255,525.00. Following the transaction, the chief executive officer now directly owns 32,756 shares in the company, valued at $10,155,997.80. The trade was a 24.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Tiffanie L. Boyd sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $309.27, for a total transaction of $309,270.00. Following the completion of the transaction, the executive vice president now directly owns 5,564 shares of the company's stock, valued at $1,720,778.28. This represents a 15.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,405 shares of company stock valued at $9,886,656. Corporate insiders own 0.23% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MCD. JPMorgan Chase & Co. lifted their price target on McDonald's from $280.00 to $300.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. Morgan Stanley decreased their price target on McDonald's from $340.00 to $335.00 and set an "overweight" rating on the stock in a research note on Monday, March 17th. TD Securities restated a "hold" rating and set a $300.00 price target on shares of McDonald's in a report on Monday, February 10th. Truist Financial cut their target price on shares of McDonald's from $342.00 to $340.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Finally, Robert W. Baird raised their price objective on McDonald's from $305.00 to $310.00 and gave the company a "neutral" rating in a research report on Tuesday, February 11th. Nine 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $323.39.

McDonald's Stock Performance

McDonald's stock traded up $1.45 during midday trading on Tuesday, reaching $307.12. 1,018,235 shares of the company were exchanged, compared to its average volume of 3,420,070. The company has a market capitalization of $219.42 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 3.10 and a beta of 0.71. The firm's 50-day simple moving average is $299.21 and its 200-day simple moving average is $297.65. McDonald's Co. has a 1 year low of $243.53 and a 1 year high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.83. McDonald's had a negative return on equity of 181.63% and a net margin of 31.73%. On average, analysts forecast that McDonald's Co. will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.31%. The ex-dividend date was Monday, March 3rd. McDonald's's dividend payout ratio is currently 62.16%.

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.