Wellington Management Group LLP Boosts Stock Holdings in McDonald’s Co. (NYSE:MCD)

Wellington Management Group LLP increased its position in McDonald’s Co. (NYSE:MCD) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,082,894 shares of the fast-food giant’s stock after acquiring an additional 128,800 shares during the period. McDonald’s comprises approximately 0.8% of Wellington Management Group LLP’s holdings, making the stock its 16th largest position. Wellington Management Group LLP’s holdings in McDonald’s were worth $4,592,892,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Legal & General Group Plc raised its stake in shares of McDonald’s by 3.2% in 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 purchasing an additional 188,888 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 buying an additional 49,106 shares in the last quarter. Ameriprise Financial Inc. raised its position in McDonald’s by 8.0% in the 2nd 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 last quarter. Janus Henderson Group PLC lifted its stake in McDonald’s by 0.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,765,049 shares of the fast-food giant’s stock valued at $841,966,000 after acquiring an additional 19,867 shares during the period. Finally, International Assets Investment Management LLC lifted 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 during the period. 70.29% of the stock is owned by institutional investors.

McDonald’s Stock Performance

MCD opened at $299.58 on Friday. The stock has a market capitalization of $214.68 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 3.92 and a beta of 0.73. The company has a fifty day moving average of $299.53 and a 200 day moving average of $279.58. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.19 earnings per share. On average, equities research analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change 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 2.36%. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

Insider Buying and Selling

In other news, CFO Ian Frederick Borden sold 5,939 shares of McDonald’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.04, for a total value of $1,781,937.56. Following the completion of the transaction, the chief financial officer now owns 20,403 shares in the company, valued at approximately $6,121,716.12. The trade was a 22.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. The trade was a 19.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,099 shares of company stock worth $10,273,786. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MCD shares. Wedbush reissued an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a report on Wednesday, October 23rd. Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $320.00 to $290.00 in a research note on Wednesday, October 23rd. KeyCorp raised their price target on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Morgan Stanley upped their price objective on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Baird R W cut McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average target price of $319.64.

McDonald’s Company 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.