CCLA Investment Management Cuts Stock Position in McDonald’s Corporation $MCD

CCLA Investment Management cut its holdings in McDonald’s Corporation (NYSE:MCD) by 1.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 366,824 shares of the fast-food giant’s stock after selling 4,405 shares during the quarter. CCLA Investment Management owned 0.05% of McDonald’s worth $107,167,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCD. Nuveen LLC purchased a new position in McDonald’s during the first quarter worth $1,324,961,000. Price T Rowe Associates Inc. MD boosted its stake 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 worth $2,917,993,000 after buying an additional 1,344,954 shares during the period. Goldman Sachs Group Inc. boosted its stake in McDonald’s by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after buying an additional 815,768 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in McDonald’s by 732.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock worth $203,211,000 after buying an additional 572,408 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in McDonald’s by 204.8% during the second quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock worth $177,390,000 after buying an additional 407,982 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on MCD shares. Stifel Nicolaus lifted 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. Weiss Ratings reiterated a “buy (b)” rating on shares of McDonald’s in a research report on Wednesday, October 8th. Evercore ISI lifted their target price on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. KeyCorp reiterated an “overweight” rating and set a $335.00 target price on shares of McDonald’s in a research report on Monday, October 20th. Finally, Citigroup decreased their target price on McDonald’s from $381.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, October 21st. Eleven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued 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 $324.50.

McDonald’s Price Performance

MCD stock opened at $306.05 on Monday. The business has a 50-day moving average price of $306.49 and a 200 day moving average price of $305.67. The company has a market capitalization of $218.39 billion, a P/E ratio of 26.23, a PEG ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.97 earnings per share. On average, analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company 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 is Monday, December 1st. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. McDonald’s’s dividend payout ratio is presently 60.67%.

Insider Activity at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the sale, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president owned 99 shares of the company’s stock, valued at $30,690. This represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,463 shares of company stock worth $1,692,186 over the last three months. 0.25% of the stock is owned by corporate insiders.

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.