McDonald’s Corporation $MCD Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its position in shares of McDonald’s Corporation (NYSE:MCD) by 13.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,238,816 shares of the fast-food giant’s stock after selling 192,227 shares during the quarter. TD Asset Management Inc’s holdings in McDonald’s were worth $361,945,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. bought a new position in McDonald’s during the 1st quarter valued at $26,000. HFM Investment Advisors LLC bought a new position in McDonald’s during the 1st quarter valued at $26,000. Abound Financial LLC bought a new stake in shares of McDonald’s during the 1st quarter worth $30,000. GFG Capital LLC bought a new stake in shares of McDonald’s during the 2nd quarter worth $29,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of McDonald’s during the 1st quarter worth $31,000. 70.29% of the stock is owned by institutional investors.

Insider Transactions at McDonald’s

In related news, 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 in the company, valued at approximately $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,402 shares of company stock valued at $1,973,407 in the last three months. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MCD has been the subject of several research reports. Stifel Nicolaus raised their price objective on McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Friday, August 22nd. KeyCorp reissued an “overweight” rating and set a $335.00 price objective (up from $325.00) on shares of McDonald’s in a research note on Thursday, August 7th. The Goldman Sachs Group raised McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective for the company in a research note on Thursday, July 10th. Barclays raised their price objective on McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada began coverage on 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 research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $325.18.

McDonald’s Trading Up 1.0%

Shares of NYSE:MCD opened at $300.10 on Tuesday. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The business has a fifty day simple moving average of $306.23 and a 200 day simple moving average of $305.64. The firm has a market cap of $214.15 billion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 3.12 and a beta of 0.50.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same period last year, the company earned $2.97 earnings per share. McDonald’s’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

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.