Ameriprise Financial Inc. Acquires 354,196 Shares of McDonald’s Co. (NYSE:MCD)

Ameriprise Financial Inc. increased its stake in shares of McDonald’s Co. (NYSE:MCD) by 8.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,761,625 shares of the fast-food giant’s stock after acquiring an additional 354,196 shares during the quarter. Ameriprise Financial Inc. owned about 0.66% of McDonald’s worth $1,216,677,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. AXA S.A. increased its holdings in shares of McDonald’s by 1.8% during the 2nd quarter. AXA S.A. now owns 180,537 shares of the fast-food giant’s stock worth $46,008,000 after purchasing an additional 3,202 shares during the period. NBW Capital LLC grew its position in McDonald’s by 1.8% during the second quarter. NBW Capital LLC now owns 20,366 shares of the fast-food giant’s stock worth $5,190,000 after buying an additional 353 shares in the last quarter. Fred Alger Management LLC increased its stake in McDonald’s by 5.9% during the second quarter. Fred Alger Management LLC now owns 17,555 shares of the fast-food giant’s stock valued at $4,474,000 after acquiring an additional 985 shares during the period. Wescott Financial Advisory Group LLC bought a new position in McDonald’s during the second quarter valued at about $313,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in McDonald’s by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after acquiring an additional 51,210 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MCD. Bank of America lowered their price objective on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. Truist Financial dropped their price objective on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Loop Capital reaffirmed a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a report on Tuesday, September 10th. Jefferies Financial Group upped their target price on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Finally, Wedbush restated an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a research note on Monday, July 29th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $307.48.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ian Frederick Borden sold 5,939 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.04, for a total value of $1,781,937.56. Following the completion of the transaction, the chief financial officer now directly owns 20,403 shares in the company, valued at approximately $6,121,716.12. The disclosure for this sale can be found here. Insiders sold a total of 23,958 shares of company stock worth $7,032,111 over the last three months. 0.23% of the stock is currently owned by company insiders.

McDonald’s Price Performance

MCD opened at $300.53 on Thursday. The stock has a market capitalization of $215.58 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 3.99 and a beta of 0.72. The company’s 50 day simple moving average is $279.11 and its 200-day simple moving average is $270.68. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.17 EPS. As a group, analysts anticipate that McDonald’s Co. will post 11.69 EPS for the current year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $1.67 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.22%. McDonald’s’s payout ratio is 56.71%.

McDonald’s Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.