Caisse DE Depot ET Placement DU Quebec Has $315.84 Million Position in McDonald's Corporation $MCD

Key Points

• Caisse DE Depot ET Placement DU Quebec has increased its stake in McDonald's Corporation by 7.2%, now owning approximately $315.84 million worth of shares.
• McDonald's reported earnings of $3.19 per share, surpassing analysts' expectations of $3.15, while total revenue for the quarter was $6.84 billion.
• The company announced a quarterly dividend of $1.77 per share, with a dividend yield of 2.3%, set to be paid to stockholders on September 16th.

Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 7.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,011,111 shares of the fast-food giant's stock after purchasing an additional 68,007 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.14% of McDonald's worth $315,841,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Full Sail Capital LLC lifted its holdings in shares of McDonald's by 5.3% during the 1st quarter. Full Sail Capital LLC now owns 1,545 shares of the fast-food giant's stock valued at $483,000 after purchasing an additional 78 shares in the last quarter. Ally Financial Inc. bought a new stake in McDonald's in the 1st quarter valued at approximately $1,093,000. Apexium Financial LP lifted its stake in McDonald's by 10.7% in the 1st quarter. Apexium Financial LP now owns 2,973 shares of the fast-food giant's stock valued at $929,000 after acquiring an additional 288 shares in the last quarter. Oak Harvest Investment Services lifted its stake in McDonald's by 6.4% in the 1st quarter. Oak Harvest Investment Services now owns 26,072 shares of the fast-food giant's stock valued at $8,144,000 after acquiring an additional 1,569 shares in the last quarter. Finally, ICONIQ Capital LLC lifted its stake in McDonald's by 15.7% in the 1st quarter. ICONIQ Capital LLC now owns 3,735 shares of the fast-food giant's stock valued at $1,167,000 after acquiring an additional 508 shares in the last quarter. Institutional investors own 70.29% of the company's stock.

McDonald's Trading Up 0.2%

MCD stock opened at $313.8010 on Monday. The firm has a market capitalization of $223.93 billion, a PE ratio of 26.89, a PEG ratio of 3.20 and a beta of 0.52. McDonald's Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The business's 50 day simple moving average is $299.02 and its 200 day simple moving average is $305.92.

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

McDonald's Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. McDonald's's dividend payout ratio is presently 60.67%.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was 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 in the company, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Edith Morgan Flatley sold 976 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $303.50, for a total value of $296,216.00. Following the sale, the chief marketing officer owned 7,882 shares of the company's stock, valued at approximately $2,392,187. The trade was a 11.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,341 shares of company stock valued at $2,229,327. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on MCD. Piper Sandler boosted their target price on McDonald's from $314.00 to $325.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Bank of America cut their target price on McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. TD Cowen boosted their target price on McDonald's from $305.00 to $315.00 and gave the company a "hold" rating in a research note on Wednesday, August 6th. Truist Financial upped their price objective on McDonald's from $356.00 to $360.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, The Goldman Sachs Group upgraded McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price objective on the stock in a research note on Thursday, July 10th. Thirteen equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, McDonald's presently has a consensus rating of "Hold" and a consensus target price of $326.38.

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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