Shell Asset Management Co. Boosts Holdings in McDonald's Co. (MCD)
Shell Asset Management Co. grew its holdings in McDonald's Co. (NYSE:MCD) by 80.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 488,339 shares of the fast-food giant’s stock after acquiring an additional 218,061 shares during the period. McDonald's comprises approximately 0.8% of Shell Asset Management Co.’s portfolio, making the stock its 17th largest position. Shell Asset Management Co. owned 0.06% of McDonald's worth $46,299,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of MCD. Vanguard Group Inc. lifted its position in shares of McDonald's by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 57,300,686 shares of the fast-food giant’s stock worth $8,776,174,000 after purchasing an additional 906,303 shares during the last quarter. BlackRock Inc. lifted its position in shares of McDonald's by 3.0% during the 2nd quarter. BlackRock Inc. now owns 54,606,388 shares of the fast-food giant’s stock worth $8,363,515,000 after purchasing an additional 1,586,761 shares during the last quarter. Capital World Investors lifted its position in shares of McDonald's by 2.8% during the 2nd quarter. Capital World Investors now owns 22,288,104 shares of the fast-food giant’s stock worth $3,413,646,000 after purchasing an additional 606,232 shares during the last quarter. Capital Research Global Investors lifted its position in shares of McDonald's by 15.0% during the 2nd quarter. Capital Research Global Investors now owns 12,058,661 shares of the fast-food giant’s stock worth $1,846,905,000 after purchasing an additional 1,572,074 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of McDonald's by 3.1% during the 2nd quarter. Northern Trust Corp now owns 11,835,647 shares of the fast-food giant’s stock worth $1,812,747,000 after purchasing an additional 360,212 shares during the last quarter. Institutional investors and hedge funds own 67.40% of the company’s stock.
In other news, insider Stephen Easterbrook sold 171,577 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $168.32, for a total transaction of $28,879,840.64. Following the transaction, the insider now directly owns 49,778 shares in the company, valued at $8,378,632.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP James R. Sappington sold 8,046 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $165.00, for a total transaction of $1,327,590.00. Following the transaction, the vice president now owns 15,739 shares in the company, valued at $2,596,935. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.
McDonald's (NYSE:MCD) last announced its earnings results on Tuesday, October 24th. The fast-food giant reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.01. McDonald's had a net margin of 24.19% and a negative return on equity of 216.45%. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.75 billion. During the same period in the prior year, the company earned $1.62 earnings per share. The business’s revenue was down 10.4% compared to the same quarter last year. equities research analysts forecast that McDonald's Co. will post 6.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from McDonald's’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Thursday, November 30th. McDonald's’s dividend payout ratio is presently 58.30%.
MCD has been the subject of several recent analyst reports. Mizuho reaffirmed a “buy” rating and set a $173.00 price objective (up from $170.00) on shares of McDonald's in a research report on Wednesday, September 13th. Goldman Sachs Group set a $173.00 price target on shares of McDonald's and gave the company a “buy” rating in a research report on Wednesday, November 8th. Robert W. Baird reissued a “buy” rating and issued a $170.00 price target on shares of McDonald's in a research report on Friday, September 1st. Deutsche Bank set a $185.00 price target on shares of McDonald's and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $175.00 price target on shares of McDonald's in a research report on Friday, September 8th. Ten analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $175.05.
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McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.
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