Financial Advocates Investment Management Has $2.38 Million Holdings in McDonald’s Co. (NYSE:MCD)

Financial Advocates Investment Management cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,800 shares of the fast-food giant’s stock after selling 199 shares during the period. Financial Advocates Investment Management’s holdings in McDonald’s were worth $2,375,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hantz Financial Services Inc. bought a new stake in shares of McDonald’s in the second quarter worth $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of McDonald’s by 58.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after purchasing an additional 51,210 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in shares of McDonald’s by 6.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after purchasing an additional 2,997 shares during the last quarter. BNP Paribas bought a new stake in shares of McDonald’s in the first quarter worth $7,898,000. Finally, First Financial Bankshares Inc grew its stake in shares of McDonald’s by 11.7% in the third quarter. First Financial Bankshares Inc now owns 313,961 shares of the fast-food giant’s stock worth $95,604,000 after purchasing an additional 32,890 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,097 shares of company stock worth $10,256,818. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on MCD shares. Bank of America boosted their price objective on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research note on Wednesday. Morgan Stanley boosted their price objective on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. UBS Group upped their price target on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Tigress Financial upped their price target on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Truist Financial cut their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research report on Wednesday. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

McDonald’s Price Performance

MCD opened at $292.17 on Friday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The firm has a market capitalization of $209.59 billion, a PE ratio of 25.65, a P/E/G ratio of 3.85 and a beta of 0.73. The company’s 50-day moving average is $298.25 and its 200 day moving average is $275.58.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the prior year, the business posted $3.19 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts expect that McDonald’s Co. will post 11.78 EPS for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.77 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.42%. McDonald’s’s dividend payout ratio (DPR) is 58.65%.

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.