HighPoint Advisor Group LLC Has $17.47 Million Position in McDonald's Corporation (NYSE:MCD)

HighPoint Advisor Group LLC boosted its position in McDonald's Corporation (NYSE:MCD - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,560 shares of the fast-food giant's stock after acquiring an additional 1,010 shares during the quarter. McDonald's accounts for about 1.0% of HighPoint Advisor Group LLC's holdings, making the stock its 18th biggest holding. HighPoint Advisor Group LLC's holdings in McDonald's were worth $17,474,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MCD. Mascagni Wealth Management Inc. acquired a new position in shares of McDonald's in the 4th quarter valued at $25,000. Pinney & Scofield Inc. purchased a new stake in shares of McDonald's during the 4th quarter worth $29,000. GKV Capital Management Co. Inc. purchased a new stake in shares of McDonald's in the 4th quarter worth about $30,000. Abound Financial LLC purchased a new stake in shares of McDonald's in the 1st quarter worth about $30,000. Finally, Copia Wealth Management purchased a new position in McDonald's in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 70.29% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Argus downgraded shares of McDonald's from a "buy" rating to a "hold" rating in a research note on Friday, June 13th. Piper Sandler raised their price target on shares of McDonald's from $292.00 to $314.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Truist Financial raised their price objective on McDonald's from $350.00 to $356.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Morgan Stanley raised their price target on McDonald's from $324.00 to $326.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Finally, Bank of America lowered their price target on McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, McDonald's has a consensus rating of "Hold" and a consensus target price of $322.00.

McDonald's Trading Down 0.6%

NYSE MCD traded down $1.69 during trading on Thursday, reaching $296.43. 1,395,762 shares of the company's stock were exchanged, compared to its average volume of 3,590,144. McDonald's Corporation has a fifty-two week low of $250.23 and a fifty-two week high of $326.32. The firm has a market capitalization of $211.96 billion, a PE ratio of 26.16, a P/E/G ratio of 3.13 and a beta of 0.53. The company's fifty day simple moving average is $301.79 and its 200-day simple moving average is $302.83.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting analysts' consensus estimates of $2.67. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. During the same period last year, the company posted $2.70 EPS. The business's quarterly revenue was down 3.5% compared to the same quarter last year. Equities analysts forecast that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.39%. McDonald's's dividend payout ratio is 62.49%.

Insider Activity

In other news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the sale, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. The trade was a 9.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the sale, the chief marketing officer owned 8,858 shares of the company's stock, valued at approximately $2,657,400. This represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,817 shares of company stock valued at $1,147,992. 0.25% of the stock is owned by corporate insiders.

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.