McDonald’s Co. (NYSE:MCD) Shares Acquired by Investment Management Corp of Ontario

Investment Management Corp of Ontario lifted its position in McDonald’s Co. (NYSE:MCD) by 49.4% during the third quarter, HoldingsChannel.com reports. The fund owned 23,903 shares of the fast-food giant’s stock after acquiring an additional 7,900 shares during the period. Investment Management Corp of Ontario’s holdings in McDonald’s were worth $7,279,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Legal & General Group Plc grew its holdings in shares of McDonald’s by 3.2% during the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after buying an additional 188,888 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of McDonald’s by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after acquiring an additional 49,106 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of McDonald’s by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after buying an additional 354,196 shares during the period. Janus Henderson Group PLC raised its holdings in shares of McDonald’s by 0.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,765,049 shares of the fast-food giant’s stock worth $841,966,000 after purchasing an additional 19,867 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after acquiring an additional 2,311,721 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The trade was a 19.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $298.57, for a total value of $328,128.43. Following the sale, the insider now owns 11,484 shares of the company’s stock, valued at $3,428,777.88. The trade was a 8.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,099 shares of company stock valued at $10,273,786 over the last 90 days. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MCD. TD Cowen reaffirmed a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. Wedbush reaffirmed an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a research note on Wednesday, October 23rd. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Loop Capital reissued a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. raised their price objective on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $319.64.

McDonald’s Stock Performance

MCD opened at $292.35 on Tuesday. The stock has a fifty day moving average of $299.96 and a 200-day moving average of $279.04. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The company has a market capitalization of $209.50 billion, a P/E ratio of 25.68, a P/E/G ratio of 3.94 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its quarterly 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. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.19 EPS. On average, equities research analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is currently 58.65%.

McDonald’s Profile

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.