1832 Asset Management L.P. Sells 49,543 Shares of McDonald’s Corporation $MCD

1832 Asset Management L.P. trimmed its holdings in McDonald’s Corporation (NYSE:MCD) by 3.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,343,795 shares of the fast-food giant’s stock after selling 49,543 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.19% of McDonald’s worth $392,617,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MCD. Vanguard Group Inc. boosted its position in shares of McDonald’s by 1.3% during the second quarter. Vanguard Group Inc. now owns 71,331,031 shares of the fast-food giant’s stock worth $20,840,787,000 after acquiring an additional 921,936 shares during the last quarter. Geode Capital Management LLC lifted its stake in McDonald’s by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 16,828,420 shares of the fast-food giant’s stock worth $4,901,595,000 after purchasing an additional 276,065 shares in the last quarter. Norges Bank bought a new position in shares of McDonald’s during the 2nd quarter valued at about $2,780,712,000. Price T Rowe Associates Inc. MD grew its position in shares of McDonald’s by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after purchasing an additional 1,344,954 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of McDonald’s by 1.1% during the first quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant’s stock valued at $2,800,447,000 after purchasing an additional 97,966 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 3,195 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $305.82, for a total value of $977,094.90. Following the completion of the sale, the insider owned 6,088 shares in the company, valued at approximately $1,861,832.16. The trade was a 34.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Manuel Jm Steijaert sold 13,134 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total value of $3,945,716.28. Following the transaction, the executive vice president owned 4,606 shares in the company, valued at $1,383,734.52. The trade was a 74.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,030 shares of company stock worth $12,240,570 in the last three months. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MCD. Weiss Ratings reiterated a “buy (b-)” rating on shares of McDonald’s in a research report on Friday, October 31st. Mizuho upgraded McDonald’s to a “hold” rating in a report on Tuesday, October 28th. Stifel Nicolaus upped their price objective on McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Friday, August 22nd. Wells Fargo & Company increased their target price on McDonald’s from $340.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Royal Bank Of Canada initiated coverage on shares of McDonald’s in a report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 target price for the company. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $324.57.

McDonald’s Stock Down 0.8%

Shares of McDonald’s stock opened at $301.10 on Wednesday. The stock’s fifty day moving average is $303.70 and its two-hundred day moving average is $303.95. The company has a market capitalization of $214.43 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32.

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

McDonald’s Increases Dividend

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

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.