Geode Capital Management LLC Has $4.90 Billion Position in McDonald’s Corporation $MCD

Geode Capital Management LLC boosted its holdings in McDonald’s Corporation (NYSE:MCD) by 1.7% during the second quarter, HoldingsChannel.com reports. The fund owned 16,828,420 shares of the fast-food giant’s stock after purchasing an additional 276,065 shares during the period. Geode Capital Management LLC’s holdings in McDonald’s were worth $4,901,595,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. lifted its position in shares of McDonald’s by 142.9% during the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after buying an additional 50 shares during the period. Legacy Investment Solutions LLC acquired a new position in McDonald’s during the second quarter worth $25,000. HFM Investment Advisors LLC bought a new position in shares of McDonald’s during the first quarter valued at $26,000. Nova Wealth Management Inc. acquired a new stake in shares of McDonald’s in the 1st quarter valued at $26,000. Finally, GFG Capital LLC bought a new stake in shares of McDonald’s in the 2nd quarter worth about $29,000. Institutional investors own 70.29% of the company’s stock.

Insider Activity

In other 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 completion of the sale, the chief marketing officer owned 6,858 shares in the company, valued at $2,160,270. The trade was a 12.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Manuel Jm Steijaert sold 13,134 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the sale, the executive vice president directly owned 4,606 shares of the company’s stock, valued at approximately $1,383,734.52. This trade represents a 74.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 15,134 shares of company stock valued at $4,570,716. 0.25% of the stock is currently owned by insiders.

McDonald’s Stock Performance

NYSE:MCD opened at $306.48 on Wednesday. The company has a market cap of $218.26 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 3.23 and a beta of 0.50. The stock’s fifty day moving average price is $303.91 and its two-hundred day moving average price is $304.75. 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 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the business posted $3.23 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, December 1st. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio is currently 63.48%.

Analyst Ratings Changes

Several equities analysts recently issued reports on MCD shares. Citigroup cut their price target on shares of McDonald’s from $381.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, October 21st. JPMorgan Chase & Co. lifted their target price on shares of McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. TD Cowen boosted their target price on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, August 6th. BMO Capital Markets reaffirmed an “outperform” rating on shares of McDonald’s in a report on Thursday, November 6th. Finally, Robert W. Baird lifted their price objective on McDonald’s from $322.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Eleven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Hold” and an average target price of $323.91.

About McDonald’s

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.