33,530 Shares in McDonald's Corporation (NYSE:MCD) Acquired by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. made a new investment of approximately $10.47 million in McDonald's by purchasing 33,530 shares during the 1st quarter.
• Institutional investors and hedge funds own 70.29% of McDonald's stock, with notable increases in holdings from firms like GAMMA Investing LLC and Northern Trust Corp.
• McDonald's announced a quarterly dividend of $1.77 per share, which will be paid on September 16th, representing a 2.3% dividend yield.

iA Global Asset Management Inc. purchased a new position in shares of McDonald's Corporation (NYSE:MCD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 33,530 shares of the fast-food giant's stock, valued at approximately $10,474,000.

A number of other institutional investors have also recently bought and sold shares of the business. Granite Bay Wealth Management LLC boosted its stake in McDonald's by 3.5% in the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock worth $309,000 after purchasing an additional 33 shares during the period. CVA Family Office LLC lifted its holdings in shares of McDonald's by 1.9% in the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock worth $560,000 after buying an additional 33 shares in the last quarter. Consilium Wealth Advisory LLC lifted its holdings in shares of McDonald's by 2.5% in the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock worth $417,000 after buying an additional 33 shares in the last quarter. Security Financial Services INC. boosted its position in shares of McDonald's by 0.7% in the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock valued at $1,575,000 after acquiring an additional 33 shares during the period. Finally, Northeast Financial Consultants Inc grew its stake in McDonald's by 0.5% during the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock valued at $2,170,000 after acquiring an additional 34 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

Wall Street Analyst Weigh In

MCD has been the topic of several recent analyst reports. Bank of America lowered their target price on shares of 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 Securities reaffirmed a "hold" rating and issued a $305.00 price target on shares of McDonald's in a report on Thursday, June 5th. Loop Capital lowered McDonald's from a "buy" rating to a "hold" rating and dropped their price objective for the company from $346.00 to $315.00 in a research note on Friday, June 6th. BTIG Research restated a "neutral" rating on shares of McDonald's in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group raised McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price target on the stock in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $326.00.

McDonald's Stock Up 0.1%

Shares of McDonald's stock traded up $0.24 during trading on Thursday, reaching $307.90. 3,600,765 shares of the stock were exchanged, compared to its average volume of 3,770,135. McDonald's Corporation has a 1 year low of $265.33 and a 1 year high of $326.32. The firm has a market cap of $220.16 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 3.22 and a beta of 0.52. The stock's fifty day moving average is $298.73 and its 200 day moving average is $304.17.

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 analysts' consensus estimates of $3.15 by $0.04. The firm 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 206.70% and a net margin of 32.21%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $2.97 EPS. Equities analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current 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 paid a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. McDonald's's payout ratio is presently 60.67%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction that occurred 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 sale, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 976 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $303.50, for a total transaction of $296,216.00. Following the sale, the chief marketing officer owned 7,882 shares in the company, valued at approximately $2,392,187. This trade represents a 11.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,280 shares of company stock valued at $2,215,178. Corporate insiders own 0.25% of the company's stock.

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.