BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 51,210 Shares of McDonald’s Co. (NYSE:MCD)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of McDonald’s Co. (NYSE:MCD) by 58.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,102 shares of the fast-food giant’s stock after acquiring an additional 51,210 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in McDonald’s were worth $35,194,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Hantz Financial Services Inc. bought a new position in shares of McDonald’s during the second quarter worth about $6,612,000. California State Teachers Retirement System lifted its position in shares of McDonald’s by 1.4% in the fourth quarter. California State Teachers Retirement System now owns 1,180,928 shares of the fast-food giant’s stock worth $350,157,000 after purchasing an additional 15,863 shares in the last quarter. Brevan Howard Capital Management LP boosted its holdings in McDonald’s by 411.4% during the fourth quarter. Brevan Howard Capital Management LP now owns 7,497 shares of the fast-food giant’s stock worth $2,223,000 after purchasing an additional 6,031 shares during the last quarter. BNP Paribas bought a new position in McDonald’s in the first quarter valued at $7,898,000. Finally, First Long Island Investors LLC increased its stake in McDonald’s by 16.6% in the 1st quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock valued at $15,231,000 after buying an additional 7,707 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

McDonald’s Trading Up 0.8 %

Shares of MCD opened at $299.06 on Tuesday. The stock has a market capitalization of $215.53 billion, a PE ratio of 25.39, a P/E/G ratio of 3.88 and a beta of 0.72. The firm’s 50 day moving average is $278.25 and its 200-day moving average is $270.62. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the prior year, the firm earned $3.17 earnings per share. McDonald’s’s revenue was down .1% on a year-over-year basis. Equities research analysts predict that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Tuesday, September 3rd. McDonald’s’s payout ratio is presently 56.71%.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the sale, the insider now directly owns 13,681 shares in the company, valued at approximately $3,557,060. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,193 shares of company stock valued at $1,403,593. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Morgan Stanley reduced their price objective on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Stifel Nicolaus reduced their price target on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Loop Capital restated a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a research note on Tuesday, September 10th. JPMorgan Chase & Co. upped their price objective on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, BMO Capital Markets cut their price objective on McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $306.11.

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.