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

1832 Asset Management L.P. lessened its holdings in McDonald’s Corporation (NYSE:MCD) by 3.6% in the 2nd quarter, Holdings Channel.com reports. 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.’s holdings in McDonald’s were worth $392,617,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in McDonald’s during the second quarter worth $2,780,712,000. Laurel Wealth Advisors LLC raised its position in shares of McDonald’s by 29,382.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock worth $1,676,339,000 after acquiring an additional 5,718,087 shares in the last quarter. Soundwatch Capital LLC purchased a new stake in shares of McDonald’s during the 2nd quarter worth $1,412,069,000. Nuveen LLC purchased a new stake in shares of McDonald’s during the 1st quarter worth $1,324,961,000. Finally, Price T Rowe Associates Inc. MD boosted its position in 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. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Trading Down 0.8%

Shares of NYSE:MCD opened at $301.10 on Wednesday. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The company’s 50 day moving average is $303.70 and its 200 day moving average is $303.95. The company has a market cap 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 (NYSE:MCD) last announced its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 EPS 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 analyst estimates of $7.10 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.23 earnings per share. Equities research analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders 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 annualized dividend and a yield of 2.5%. McDonald’s’s dividend payout ratio is currently 63.48%.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 3,195 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $305.82, for a total transaction of $977,094.90. Following the sale, the insider directly owned 6,088 shares of the company’s stock, valued at approximately $1,861,832.16. This trade represents a 34.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ian Frederick Borden sold 17,134 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $310.00, for a total value of $5,311,540.00. Following the completion of the transaction, the chief financial officer directly owned 26,353 shares of the company’s stock, valued at approximately $8,169,430. This trade represents a 39.40% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 40,030 shares of company stock valued at $12,240,570. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of McDonald’s in a report on Thursday, November 6th. Wells Fargo & Company lifted their price objective on shares of McDonald’s from $340.00 to $345.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Stifel Nicolaus boosted their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Friday, August 22nd. Piper Sandler restated a “neutral” rating and issued a $325.00 target price on shares of McDonald’s in a research note on Wednesday, October 22nd. Finally, Mizuho raised shares of McDonald’s to a “hold” rating in a report on Tuesday, October 28th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $324.57.

McDonald’s Company 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.