Allstate Corp Has $8.60 Million Stock Holdings in McDonald's Corporation $MCD

Key Points

• Allstate Corp increased its stake in McDonald's Corporation by 29.0% during the 1st quarter, owning a total of 27,544 shares valued at approximately $8.6 million.
• McDonald's reported earnings per share of $3.19 for the quarter, exceeding analysts' expectations, while revenue increased by 5.4% year-over-year to $6.84 billion.
• The company announced a quarterly dividend of $1.77 per share, yielding 2.3%, with a payment date set for September 16th.

Allstate Corp increased its position in McDonald's Corporation (NYSE:MCD - Free Report) by 29.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 27,544 shares of the fast-food giant's stock after purchasing an additional 6,194 shares during the period. Allstate Corp's holdings in McDonald's were worth $8,604,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in McDonald's by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant's stock worth $21,993,689,000 after purchasing an additional 239,753 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in McDonald's by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant's stock worth $2,917,993,000 after purchasing an additional 1,344,954 shares during the period. Northern Trust Corp boosted its stake in McDonald's by 1.1% in the 1st quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant's stock worth $2,800,447,000 after purchasing an additional 97,966 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in McDonald's by 11.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,019,019 shares of the fast-food giant's stock worth $1,454,963,000 after purchasing an additional 504,085 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in McDonald's by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant's stock worth $1,556,485,000 after purchasing an additional 815,768 shares during the period. Institutional investors and hedge funds own 70.29% of the company's stock.

Insider Activity

In related news, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the sale, the insider directly owned 9,283 shares of the company's stock, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president owned 8,754 shares of the company's stock, valued at approximately $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,341 shares of company stock valued at $2,229,327 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MCD shares. Robert W. Baird increased their target price on shares of McDonald's from $300.00 to $315.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Guggenheim reiterated a "neutral" rating on shares of McDonald's in a research report on Friday, August 8th. TD Securities reiterated a "hold" rating and issued a $305.00 target price on shares of McDonald's in a research report on Thursday, June 5th. Evercore ISI increased their target price on shares of McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Citigroup increased their target price on shares of McDonald's from $364.00 to $365.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $326.38.

McDonald's Stock Up 0.2%

Shares of MCD traded up $0.5810 during mid-day trading on Friday, hitting $313.8010. 2,796,690 shares of the company's stock were exchanged, compared to its average volume of 3,499,843. The firm has a fifty day moving average of $299.02 and a two-hundred day moving average of $305.92. McDonald's Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The stock has a market cap of $223.93 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 3.20 and a beta of 0.52.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. McDonald's's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.97 EPS. On average, equities analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's dividend payout ratio is currently 60.67%.

McDonald's Company Profile

McDonald's Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.