Financial Advocates Investment Management Increases Holdings in McDonald’s Co. (NYSE:MCD)

Financial Advocates Investment Management raised its stake in McDonald’s Co. (NYSE:MCD) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,891 shares of the fast-food giant’s stock after purchasing an additional 91 shares during the quarter. Financial Advocates Investment Management’s holdings in McDonald’s were worth $2,288,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in McDonald’s in the third quarter valued at approximately $25,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McDonald’s in the third quarter valued at $31,000. Hara Capital LLC acquired a new position in McDonald’s in the 3rd quarter worth $44,000. Financial Life Planners purchased a new position in McDonald’s in the 4th quarter valued at about $49,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of McDonald’s during the third quarter valued at about $58,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 300 shares of McDonald’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the transaction, the insider now directly owns 7,887 shares of the company’s stock, valued at $2,214,275.25. The trade was a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total transaction of $436,134.05. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $453,882. The trade was a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,406 shares of company stock worth $2,150,857 over the last ninety days. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on MCD shares. Loop Capital reissued a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a report on Friday, January 3rd. Evercore ISI raised their price target on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. TD Cowen reiterated a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research note on Tuesday, October 29th. Piper Sandler dropped their target price on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $318.86.

McDonald’s Stock Up 1.9 %

Shares of MCD opened at $294.37 on Friday. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The firm has a market capitalization of $210.95 billion, a PE ratio of 25.84, a P/E/G ratio of 3.83 and a beta of 0.74. The firm has a 50-day moving average price of $290.75 and a 200 day moving average price of $290.37.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.41%. McDonald’s’s payout ratio is 62.16%.

About McDonald’s

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.