Erste Asset Management GmbH Purchases 56,798 Shares of McDonald's Corporation $MCD

Key Points

• Erste Asset Management GmbH significantly increased its stake in McDonald's by 2,518.8%, acquiring 56,798 additional shares, bringing its total holdings to 59,053 shares valued at approximately $17.95 million.
• Several other institutional investors, including Vanguard Group and Goldman Sachs, also increased their positions in McDonald's, indicating strong institutional interest.
• McDonald's recently announced a quarterly dividend of $1.77 per share, with an annualized yield of 2.3%, set to be paid to shareholders on September 16th.

Erste Asset Management GmbH boosted its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 2,518.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,053 shares of the fast-food giant's stock after acquiring an additional 56,798 shares during the period. Erste Asset Management GmbH's holdings in McDonald's were worth $17,951,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of McDonald's by 0.3% in the first 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. Northern Trust Corp grew its position in McDonald's by 1.1% during the first quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant's stock worth $2,800,447,000 after buying an additional 97,966 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 acquiring an additional 504,085 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of 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 valued at $1,556,485,000 after acquiring an additional 815,768 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of McDonald's by 9.0% during the 1st quarter. Invesco Ltd. now owns 4,664,299 shares of the fast-food giant's stock valued at $1,456,987,000 after acquiring an additional 386,392 shares during the last quarter. Institutional investors own 70.29% of the company's stock.

Insider Buying and Selling

In related news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the transaction, the chief marketing officer directly owned 8,858 shares of the company's stock, valued at $2,657,400. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president directly owned 99 shares of the company's stock, valued at $30,690. The trade was a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,280 shares of company stock valued at $2,525,178 over the last quarter. Company insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Northcoast Research cut shares of McDonald's from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. Citigroup increased their price target on shares of McDonald's from $364.00 to $365.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Piper Sandler raised 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. Evercore ISI lifted their price objective on shares of McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, Robert W. Baird increased their target price on McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Thirteen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $326.87.

McDonald's Stock Up 0.6%

Shares of NYSE:MCD opened at $310.6130 on Wednesday. The stock has a market cap of $221.65 billion, a PE ratio of 26.62, a PEG ratio of 3.15 and a beta of 0.52. The company's fifty day moving average is $298.34 and its 200 day moving average is $305.35. McDonald's Corporation has a 52 week low of $276.53 and a 52 week high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.15 by $0.04. The firm had revenue of $6.84 billion for 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%.The company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $2.97 earnings per share. Sell-side analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Announces Dividend

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

McDonald's 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.

Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald's Corporation (NYSE:MCD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.