McDonald's Corporation $MCD Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. has significantly increased its stake in McDonald's Corporation by 204.8%, acquiring an additional 407,982 shares, bringing its total ownership to approximately 607,145 shares valued at $177,390,000.
• McDonald's reported a quarterly earnings per share (EPS) of $3.19, exceeding analysts' expectations, and saw a 5.4% year-over-year revenue increase to $6.84 billion.
• The company declared a quarterly dividend of $1.77 per share, with a dividend yield of 2.3%, indicating a healthy return for its shareholders.

Assenagon Asset Management S.A. increased its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 204.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 607,145 shares of the fast-food giant's stock after acquiring an additional 407,982 shares during the period. Assenagon Asset Management S.A. owned about 0.08% of McDonald's worth $177,390,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. First American Trust FSB raised its position in McDonald's by 55.9% in the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant's stock valued at $11,532,000 after purchasing an additional 13,234 shares in the last quarter. Banque Transatlantique SA grew its stake in McDonald's by 58.0% during the 1st quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant's stock worth $71,829,000 after buying an additional 91,313 shares during the last quarter. Hamilton Capital LLC grew its stake in McDonald's by 35.2% during the 1st quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant's stock worth $982,000 after buying an additional 819 shares during the last quarter. Red Door Wealth Management LLC grew its position in McDonald's by 1.9% in the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant's stock valued at $1,788,000 after buying an additional 109 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in McDonald's by 5.6% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant's stock valued at $107,867,000 after buying an additional 18,393 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

Insider Transactions at McDonald's

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares of the company's stock, valued at $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the transaction, the executive vice president directly owned 99 shares of the company's stock, valued at approximately $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,402 shares of company stock valued at $2,273,407. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MCD shares. Melius started coverage on shares of McDonald's in a research report on Monday, July 14th. They issued a "sell" rating and a $250.00 price objective on the stock. Evercore ISI lifted their price target on McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Guggenheim restated a "neutral" rating on shares of McDonald's in a research note on Friday, August 8th. Argus downgraded McDonald's from a "buy" rating to a "hold" rating in a research note on Friday, June 13th. Finally, TD Securities restated a "hold" rating and issued a $305.00 price target on shares of McDonald's in a research note on Thursday, June 5th. Eleven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $325.86.

McDonald's Stock Performance

MCD stock traded up $1.09 during midday trading on Monday, hitting $303.47. 2,433,894 shares of the stock were exchanged, compared to its average volume of 3,545,340. The stock's 50-day moving average price is $306.06 and its 200-day moving average price is $306.41. The stock has a market cap of $216.56 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 3.08 and a beta of 0.50. McDonald's Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

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 (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $6.68 billion. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.McDonald's's revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.97 earnings per share. Research analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.3%. McDonald's's 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.