Avantax Advisory Services Inc. Raises Position in McDonald’s Co. (NYSE:MCD)

Avantax Advisory Services Inc. raised its holdings in shares of McDonald’s Co. (NYSE:MCD) by 4.8% during the 4th quarter, HoldingsChannel reports. The fund owned 103,260 shares of the fast-food giant’s stock after acquiring an additional 4,735 shares during the quarter. Avantax Advisory Services Inc.’s holdings in McDonald’s were worth $29,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of McDonald’s during the 3rd quarter worth $25,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of McDonald’s during the 4th quarter worth $27,000. Collier Financial purchased a new position in shares of McDonald’s during the 4th quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McDonald’s during the 3rd quarter valued at $31,000. Finally, Fairway Wealth LLC lifted its stake in shares of McDonald’s by 110.0% during the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

MCD has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of McDonald’s from $336.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Robert W. Baird lifted their target price on shares of McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Piper Sandler lowered their target price on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Citigroup lifted their target price on shares of McDonald’s from $336.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $323.61.

Insider Transactions at McDonald’s

In related news, CEO Christopher J. Kempczinski sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the completion of the transaction, the chief executive officer now owns 32,756 shares in the company, valued at $10,155,997.80. The trade was a 24.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 300 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total transaction of $84,225.00. Following the transaction, the insider now owns 7,887 shares in the company, valued at $2,214,275.25. The trade was a 3.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,504 shares of company stock valued at $10,206,575. Company insiders own 0.23% of the company’s stock.

McDonald’s Trading Down 3.3 %

Shares of NYSE:MCD opened at $306.65 on Wednesday. The company has a market capitalization of $219.09 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 3.10 and a beta of 0.71. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $326.32. The firm’s 50-day moving average is $296.57 and its 200 day moving average is $296.68.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (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%. As a group, equities analysts forecast that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $1.77 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $7.08 annualized dividend and a dividend yield of 2.31%. McDonald’s’s payout ratio is presently 62.16%.

About McDonald’s

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.