HighPoint Advisor Group LLC Purchases 1,232 Shares of McDonald’s Co. (NYSE:MCD)

HighPoint Advisor Group LLC raised its position in shares of McDonald’s Co. (NYSE:MCD) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,550 shares of the fast-food giant’s stock after acquiring an additional 1,232 shares during the period. McDonald’s makes up 0.9% of HighPoint Advisor Group LLC’s portfolio, making the stock its 18th biggest holding. HighPoint Advisor Group LLC’s holdings in McDonald’s were worth $16,859,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. United Bank raised its stake in shares of McDonald’s by 3.5% in the third quarter. United Bank now owns 6,446 shares of the fast-food giant’s stock valued at $1,963,000 after acquiring an additional 218 shares during the last quarter. Fred Alger Management LLC increased its holdings in McDonald’s by 4.4% during the 3rd quarter. Fred Alger Management LLC now owns 18,331 shares of the fast-food giant’s stock valued at $5,582,000 after purchasing an additional 776 shares in the last quarter. Tradition Wealth Management LLC raised its position in McDonald’s by 1.8% in the 3rd quarter. Tradition Wealth Management LLC now owns 7,438 shares of the fast-food giant’s stock valued at $2,265,000 after purchasing an additional 132 shares during the last quarter. Cobblestone Capital Advisors LLC NY boosted its stake in McDonald’s by 3.9% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 8,235 shares of the fast-food giant’s stock worth $2,508,000 after purchasing an additional 311 shares in the last quarter. Finally, Plotkin Financial Advisors LLC bought a new stake in shares of McDonald’s during the third quarter worth $302,000. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Performance

Shares of MCD opened at $306.95 on Monday. The firm’s 50 day moving average price is $301.52 and its two-hundred day moving average price is $298.20. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $326.32. The firm has a market cap of $219.31 billion, a P/E ratio of 26.95, a PEG ratio of 3.10 and a beta of 0.71.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. On average, sell-side analysts anticipate that McDonald’s Co. will post 12.25 earnings per share 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 dividend of $1.77 per share. The ex-dividend date was Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.31%. McDonald’s’s payout ratio is presently 62.16%.

Insider Activity at McDonald’s

In other news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total transaction of $436,134.05. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at $453,882. This represents a 49.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Tiffanie L. Boyd sold 1,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 5,564 shares in the company, valued at $1,720,778.28. This trade represents a 15.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,996 shares of company stock valued at $8,897,534. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Barclays increased their price target on shares of McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. TD Securities reaffirmed a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a report on Monday, February 10th. Wedbush boosted their target price on McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Finally, Truist Financial decreased their price target on McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Nine research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $323.61.

McDonald’s Company 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.