AMF Tjanstepension AB Purchases 205,364 Shares of McDonald's Corporation $MCD

Key Points

• AMF Tjanstepension AB increased its stake in McDonald's by 493.2% during the second quarter, acquiring an additional 205,364 shares, resulting in total holdings worth $72.2 million.
• McDonald's reported quarterly earnings of $3.19 per share, exceeding analysts' expectations, with revenue of $6.84 billion, a 5.4% increase year-over-year.
• The company declared a quarterly dividend of $1.77 per share, yielding 2.4%, with a dividend payout ratio of 60.67%.

AMF Tjanstepension AB lifted its position in McDonald's Corporation (NYSE:MCD - Free Report) by 493.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 247,007 shares of the fast-food giant's stock after purchasing an additional 205,364 shares during the period. AMF Tjanstepension AB's holdings in McDonald's were worth $72,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of MCD. Nuveen LLC bought a new stake in McDonald's during the first quarter valued at about $1,324,961,000. Price T Rowe Associates Inc. MD grew its position in shares of McDonald's by 16.8% during the first 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 in the last quarter. Goldman Sachs Group Inc. raised its stake in McDonald's by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant's stock valued at $1,556,485,000 after purchasing an additional 815,768 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in McDonald's by 732.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant's stock worth $203,211,000 after purchasing an additional 572,408 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in McDonald's by 204.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant's stock worth $177,390,000 after purchasing an additional 407,982 shares during the period. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Trading Up 0.3%

Shares of NYSE MCD opened at $300.72 on Friday. McDonald's Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The firm's 50-day moving average price is $306.93 and its 200-day moving average price is $306.17. The stock has a market capitalization of $214.59 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 3.05 and a beta of 0.50.

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

McDonald's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. McDonald's's dividend payout ratio is presently 60.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of McDonald's from $314.00 to $325.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Citigroup lifted their price target on shares of McDonald's from $373.00 to $381.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. BMO Capital Markets increased their price objective on shares of McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. JPMorgan Chase & Co. lifted their target price on McDonald's from $305.00 to $310.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, Argus downgraded McDonald's from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. Twelve analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $325.86.

Insider Buying and Selling

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the sale, the chief marketing officer owned 6,858 shares of the company's stock, valued at approximately $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares of the company's stock, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,402 shares of company stock valued at $2,273,407 in the last three months. Corporate insiders own 0.25% of the company's stock.

About McDonald's

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.

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