Meeder Asset Management Inc. decreased its position in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 32.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 404 shares of the fast-food giant’s stock after selling 190 shares during the period. Meeder Asset Management Inc.’s holdings in McDonald’s were worth $123,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc grew its holdings in shares of McDonald’s by 3.2% during the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after buying an additional 188,888 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in McDonald’s by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after purchasing an additional 354,196 shares during the last quarter. Capital World Investors boosted its holdings in McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after purchasing an additional 1,012,534 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after purchasing an additional 2,311,721 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in McDonald’s by 1.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,015,441 shares of the fast-food giant’s stock worth $613,722,000 after purchasing an additional 22,780 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.
McDonald’s Trading Up 0.1 %
Shares of NYSE MCD opened at $290.89 on Thursday. The firm’s 50-day moving average price is $300.06 and its 200-day moving average price is $277.84. The stock has a market capitalization of $208.46 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 3.89 and a beta of 0.74. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.
McDonald’s Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.43%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is currently 62.16%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on MCD. Barclays raised their target price on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. BMO Capital Markets raised their target price on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Loop Capital reissued a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Finally, Baird R W downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $319.46.
Read Our Latest Stock Analysis on MCD
Insider Activity
In related 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. This represents a 8.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the transaction, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. The trade was a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,596 shares of company stock worth $10,698,289. 0.23% of the stock is currently owned by corporate insiders.
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.
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