LGT Fund Management Co Ltd. Has $19.72 Million Stock Holdings in McDonald's Corporation (NYSE:MCD)

Key Points

• LGT Fund Management Co Ltd. reduced its stake in McDonald's by 2.8%, now holding 63,133 shares valued at approximately $19.72 million, making it the firm's 13th biggest holding.
• Major institutional investors, including First American Trust FSB and Sumitomo Mitsui DS Asset Management, have increased their positions in McDonald's, indicating positive sentiment towards the stock.
• McDonald's recently reported earnings of $3.19 per share, exceeding expectations, along with a quarterly dividend announcement of $1.77 per share, reflecting a 2.3% yield.

LGT Fund Management Co Ltd. reduced its position in McDonald's Corporation (NYSE:MCD - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,133 shares of the fast-food giant's stock after selling 1,848 shares during the quarter. McDonald's makes up about 1.8% of LGT Fund Management Co Ltd.'s investment portfolio, making the stock its 13th biggest holding. LGT Fund Management Co Ltd.'s holdings in McDonald's were worth $19,721,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCD. Mascagni Wealth Management Inc. bought a new position in shares of McDonald's during the fourth quarter valued at approximately $25,000. Abound Financial LLC bought a new position in shares of McDonald's during the first quarter valued at approximately $30,000. Pinney & Scofield Inc. bought a new position in shares of McDonald's during the fourth quarter valued at approximately $29,000. Redmont Wealth Advisors LLC bought a new position in shares of McDonald's during the first quarter valued at approximately $31,000. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of McDonald's during the first quarter valued at approximately $31,000. 70.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on MCD shares. Bank of America lowered their target price on McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Robert W. Baird increased their price objective on McDonald's from $300.00 to $315.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. TD Securities reissued a "hold" rating and issued a $305.00 price objective on shares of McDonald's in a report on Thursday, June 5th. JPMorgan Chase & Co. increased their price objective on McDonald's from $305.00 to $310.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, Loop Capital lowered McDonald's from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $346.00 to $315.00 in a report on Friday, June 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $326.87.

McDonald's Price Performance

Shares of MCD traded up $3.57 during trading hours on Thursday, hitting $308.64. 4,698,548 shares of the company were exchanged, compared to its average volume of 3,468,737. The company has a market capitalization of $220.25 billion, a PE ratio of 26.45, a PEG ratio of 3.11 and a beta of 0.52. The firm has a fifty day simple moving average of $298.03 and a 200-day simple moving average of $304.85. McDonald's Corporation has a one year low of $271.85 and a one year high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last released 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. The business had revenue of $6.84 billion during 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 company's revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $2.97 EPS. Sell-side analysts expect that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

The firm 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 $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's dividend payout ratio (DPR) is 60.67%.

Insider Transactions at McDonald's

In other news, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider owned 9,283 shares of the company's stock, valued at $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CMO Edith Morgan Flatley sold 976 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $303.50, for a total value of $296,216.00. Following the completion of the sale, the chief marketing officer directly owned 7,882 shares of the company's stock, 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. Insiders sold a total of 7,280 shares of company stock valued at $2,215,178 over the last quarter. Company 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.