193,000 McDonald's Corporation $MCD Shares Purchased by Danica Pension Livsforsikringsaktieselskab

Key Points

• Danica Pension increased its McDonald’s stake by 248% in the third quarter, buying 193,000 shares and ending the period with 270,830 shares valued at about $62.5 million.
• McDonald’s quarterly earnings per share beat estimates ($3.57 versus $3.38), while revenue of $7.16 billion fell short of forecasts. The company raised its quarterly dividend from $1.86 to $1.93 per share.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $297.82; 70.29% of McDonald’s shares were held by institutional investors and hedge funds.

Danica Pension Livsforsikringsaktieselskab boosted its position in McDonald's Corporation (NYSE:MCD - Free Report) by 248.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 270,830 shares of the fast-food giant's stock after purchasing an additional 193,000 shares during the quarter. McDonald's comprises about 1.0% of Danica Pension Livsforsikringsaktieselskab's holdings, making the stock its 20th largest position. Danica Pension Livsforsikringsaktieselskab's holdings in McDonald's were worth $62,545,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Wealth Managment LLC ID boosted its position in McDonald's by 11.0% during the first quarter. Legacy Wealth Managment LLC ID now owns 372 shares of the fast-food giant's stock worth $116,000 after acquiring an additional 37 shares during the last quarter. Signature Equity Partners LLC raised its holdings in McDonald's by 3.6% in the 1st quarter. Signature Equity Partners LLC now owns 1,087 shares of the fast-food giant's stock valued at $338,000 after acquiring an additional 38 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings in McDonald's by 1.0% in the 2nd quarter. Harbor Investment Advisory LLC now owns 4,019 shares of the fast-food giant's stock valued at $1,086,000 after acquiring an additional 38 shares during the last quarter. Parkwoods Wealth Partners LLC raised its holdings in McDonald's by 4.5% in the 2nd quarter. Parkwoods Wealth Partners LLC now owns 891 shares of the fast-food giant's stock valued at $241,000 after acquiring an additional 38 shares during the last quarter. Finally, Levin Capital Strategies L.P. lifted its stake in shares of McDonald's by 3.3% during the 1st quarter. Levin Capital Strategies L.P. now owns 1,234 shares of the fast-food giant's stock worth $384,000 after purchasing an additional 39 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald's Stock Down 0.6%

Shares of MCD stock traded down $1.51 on Friday, reaching $272.12. 4,669,394 shares of the stock were exchanged, compared to its average volume of 5,643,074. The stock has a market cap of $192.06 billion, a P/E ratio of 21.53, a price-to-earnings-growth ratio of 3.16 and a beta of 0.42. The firm has a 50 day moving average of $250.24 and a two-hundred day moving average of $281.75. McDonald's Corporation has a 1-year low of $229.20 and a 1-year high of $341.75.

McDonald's (NYSE:MCD - Get Free Report) last issued its earnings results on Wednesday, November 4th. The fast-food giant reported $3.57 earnings per share for the quarter, topping the consensus estimate of $3.38 by $0.19. McDonald's had a negative return on equity of 826.29% and a net margin of 32.38%. The business had revenue of $7.16 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same period last year, the company posted $3.22 EPS. The business's quarterly revenue was up 1.1% on a year-over-year basis. On average, equities research analysts predict that McDonald's Corporation will post 12.91 EPS for the current fiscal year.

McDonald's Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a $1.93 dividend. This is a positive change from McDonald's's previous quarterly dividend of $1.86. The ex-dividend date is Tuesday, December 1st. This represents a $7.72 dividend on an annualized basis and a dividend yield of 2.8%. McDonald's's dividend payout ratio (DPR) is 58.86%.

Analysts Set New Price Targets

Several research firms have recently issued reports on MCD. HC Wainwright set a $250.00 price objective on McDonald's in a report on Friday, September 25th. Mizuho dropped their target price on McDonald's from $290.00 to $260.00 and set a "neutral" rating for the company in a research note on Friday, October 30th. Needham & Company LLC reiterated a "buy" rating on shares of McDonald's in a research report on Monday, September 21st. Daiwa Securities Group reduced their target price on McDonald's from $309.00 to $293.00 and set an "outperform" rating on the stock in a research report on Thursday, August 6th. Finally, Wells Fargo & Company raised their price target on McDonald's from $270.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, McDonald's currently has a consensus rating of "Moderate Buy" and an average target price of $297.82.

McDonald's News Roundup

These are some of the MCD news items that stood out recently:

• Positive Sentiment: Uber is expanding its McDonald’s delivery partnership across 14 markets, which could increase delivery orders and customer engagement. Is Uber's Expansion of Delivery Tie-Up With MCD a Growth Catalyst?
• Positive Sentiment: A report says a recent U.S. recovery and growth initiatives helped drive a 17% gain over a month, while strong demand for new chicken sandwiches in Japan is another indication that product launches can resonate with customers. McDonald's Stock Up 17% in a Month: Is the Rally Built to Last? McDonald’s Japan pulls new chicken sandwiches after they sell too well
• Negative Sentiment: The rally also faces risks from rising costs and execution challenges. Separately, technical commentary notes resistance near $285, which could make it harder for shares to sustain upward momentum. Stock of the Day: Is McDonald's Reversing?

McDonald's Company Profile

McDonald’s Corporation is a global quick-service restaurant company that operates and franchises restaurants under the McDonald’s brand. Its restaurants serve a menu that includes hamburgers, cheeseburgers, chicken sandwiches, French fries, breakfast items, desserts, salads, beverages and coffee. Offerings vary by market, and many locations provide drive-thru service, delivery and digital ordering through the McDonald’s mobile app. The company operates through a heavily franchised business model, with restaurants owned and operated by independent franchisees, affiliates and the company itself.

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