806 Shares in McDonald’s Co. (NYSE:MCD) Bought by Hickory Asset Management Inc.

Hickory Asset Management Inc. bought a new stake in McDonald’s Co. (NYSE:MCD) during the 4th quarter, HoldingsChannel reports. The firm bought 806 shares of the fast-food giant’s stock, valued at approximately $234,000.

Several other institutional investors have also modified their holdings of the stock. Manchester Capital Management LLC raised its stake in McDonald’s by 0.6% during the fourth quarter. Manchester Capital Management LLC now owns 9,468 shares of the fast-food giant’s stock worth $2,745,000 after purchasing an additional 58 shares during the period. CapWealth Advisors LLC raised its stake in shares of McDonald’s by 6.3% in the 4th quarter. CapWealth Advisors LLC now owns 3,251 shares of the fast-food giant’s stock valued at $942,000 after acquiring an additional 193 shares during the period. BXM Wealth LLC acquired a new position in shares of McDonald’s in the fourth quarter valued at approximately $352,000. PUREfi Wealth LLC acquired a new position in shares of McDonald’s in the fourth quarter valued at approximately $389,000. Finally, Quadrant Private Wealth Management LLC grew its holdings in shares of McDonald’s by 11.2% in the fourth quarter. Quadrant Private Wealth Management LLC now owns 1,808 shares of the fast-food giant’s stock valued at $524,000 after purchasing an additional 182 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the subject of several analyst reports. Truist Financial lowered their price target on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday. Wells Fargo & Company upped their price target on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Citigroup upped their price objective on shares of McDonald’s from $336.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday. Wedbush upped their price objective on shares of McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, KeyCorp upped their price target on shares of McDonald’s from $320.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average price target of $323.61.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 300 shares of McDonald’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 sale, the insider now owns 7,887 shares in the company, valued at $2,214,275.25. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher J. Kempczinski sold 10,500 shares of McDonald’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 sale, the chief executive officer now owns 32,756 shares in the company, valued at $10,155,997.80. This represents a 24.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,906 shares of company stock worth $5,406,382. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of MCD stock opened at $308.59 on Friday. The firm has a market cap of $221.14 billion, a P/E ratio of 27.09, a PEG ratio of 4.08 and a beta of 0.74. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The firm’s 50-day simple moving average is $291.78 and its 200-day simple moving average is $292.20.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. Analysts expect that McDonald’s Co. will post 11.73 earnings per share 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. Investors of record on Monday, March 3rd will be issued a $1.77 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $7.08 annualized dividend and a yield of 2.29%. McDonald’s’s payout ratio is 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.