AGF Management Ltd. Trims Holdings in McDonald’s Corporation $MCD

AGF Management Ltd. reduced its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 39.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,975 shares of the fast-food giant’s stock after selling 50,507 shares during the period. AGF Management Ltd.’s holdings in McDonald’s were worth $23,074,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCD. Nova Wealth Management Inc. purchased a new stake in shares of McDonald’s in the 1st quarter worth approximately $26,000. HFM Investment Advisors LLC bought a new stake in McDonald’s in the first quarter worth $26,000. Decker Retirement Planning Inc. grew its stake in shares of McDonald’s by 142.9% in the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after acquiring an additional 50 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in shares of McDonald’s during the second quarter valued at $25,000. Finally, GFG Capital LLC purchased a new position in shares of McDonald’s in the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

MCD stock opened at $299.71 on Friday. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The company has a market cap of $213.88 billion, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50. The stock’s fifty day moving average price is $304.39 and its 200-day moving average price is $305.04.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The firm had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.10 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.23 EPS. As a group, analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $1.86 dividend. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.5%. McDonald’s’s payout ratio is 63.48%.

Insider Transactions at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the transaction, the chief marketing officer owned 6,858 shares of the company’s stock, valued at $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the sale, the executive vice president directly owned 99 shares of the company’s stock, valued at approximately $30,690. This trade represents a 90.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,134 shares of company stock valued at $4,570,716 over the last quarter. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on MCD. Mizuho upgraded shares of McDonald’s to a “hold” rating in a research note on Tuesday, October 28th. Truist Financial reduced their price target on shares of McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a research report on Friday, October 31st. Melius assumed coverage on McDonald’s in a report on Monday, July 14th. They issued a “sell” rating and a $250.00 target price for the company. Finally, Stifel Nicolaus upped their price target on McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a report on Friday, August 22nd. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $323.91.

McDonald’s 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.