McDonald’s Co. (NYSE:MCD) Holdings Boosted by Financial Advocates Investment Management

Financial Advocates Investment Management grew its holdings in McDonald’s Co. (NYSE:MCD) by 1.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,891 shares of the fast-food giant’s stock after purchasing an additional 91 shares during the period. Financial Advocates Investment Management’s holdings in McDonald’s were worth $2,288,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its position in McDonald’s by 1.4% during the third quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock valued at $4,833,510,000 after purchasing an additional 220,365 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of McDonald’s by 0.9% during the 3rd quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after acquiring an additional 128,800 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after acquiring an additional 49,106 shares during the last quarter. Janus Henderson Group PLC boosted its position in McDonald’s by 0.7% during the third quarter. Janus Henderson Group PLC now owns 2,765,049 shares of the fast-food giant’s stock valued at $841,966,000 after purchasing an additional 19,867 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after purchasing an additional 2,311,721 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $292.50, for a total transaction of $321,457.50. Following the completion of the sale, the insider now directly owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. The trade was a 10.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $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 have sold 7,406 shares of company stock valued at $2,150,857 over the last three months. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MCD has been the subject of several recent research reports. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $320.00 to $290.00 in a research report on Wednesday, October 23rd. TD Cowen reissued a “hold” rating and set a $300.00 target price on shares of McDonald’s in a research report on Tuesday, October 29th. Guggenheim cut McDonald’s from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Piper Sandler cut their price objective on McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Loop Capital reaffirmed a “buy” rating and set a $342.00 target price on shares of McDonald’s in a research report on Friday, January 3rd. 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, McDonald’s has an average rating of “Moderate Buy” and an average price target of $318.86.

McDonald’s Stock Up 1.9 %

McDonald’s stock opened at $294.37 on Friday. The stock 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 capitalization 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 12-month low of $243.53 and a 12-month high of $317.90.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 2.41%. McDonald’s’s payout ratio is 62.16%.

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.