LGT Fund Management Co Ltd. Has $2.42 Million Position in McDonald's Corporation $MCD

Key Points

• LGT Fund Management Co Ltd. significantly reduced its position in McDonald's Corporation by 86.9%, now holding 8,265 shares valued at approximately $2.42 million.
• Despite LGT's sell-off, other investors like Quent Capital LLC and NTV Asset Management LLC have increased their stakes in McDonald's during the same quarter.
• McDonald’s reported earnings of $3.19 per share for the last quarter, exceeding expectations and showing a year-over-year revenue increase of 5.4% to $6.84 billion.

LGT Fund Management Co Ltd. lowered its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 86.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,265 shares of the fast-food giant's stock after selling 54,868 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in McDonald's were worth $2,415,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Quent Capital LLC lifted its stake in McDonald's by 12.1% during the 2nd quarter. Quent Capital LLC now owns 3,691 shares of the fast-food giant's stock valued at $1,078,000 after acquiring an additional 397 shares in the last quarter. NTV Asset Management LLC increased its holdings in McDonald's by 5.2% in the 2nd quarter. NTV Asset Management LLC now owns 3,150 shares of the fast-food giant's stock worth $920,000 after acquiring an additional 156 shares during the last quarter. QRG Capital Management Inc. increased its holdings in McDonald's by 6.1% in the 2nd quarter. QRG Capital Management Inc. now owns 55,565 shares of the fast-food giant's stock worth $16,234,000 after acquiring an additional 3,205 shares during the last quarter. Precedent Wealth Partners LLC increased its holdings in McDonald's by 9.3% in the 2nd quarter. Precedent Wealth Partners LLC now owns 7,143 shares of the fast-food giant's stock worth $2,087,000 after acquiring an additional 610 shares during the last quarter. Finally, Fairvoy Private Wealth LLC increased its holdings in McDonald's by 1.8% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 10,919 shares of the fast-food giant's stock worth $3,190,000 after acquiring an additional 189 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald's Trading Up 0.3%

NYSE MCD opened at $300.72 on Friday. McDonald's Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The stock has a market cap of $214.59 billion, a P/E ratio of 25.77, a P/E/G ratio of 3.05 and a beta of 0.50. The stock's fifty day moving average price is $306.93 and its 200-day moving average price is $306.17.

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

McDonald's Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given 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 dividend yield of 2.4%. McDonald's's dividend payout ratio (DPR) is 60.67%.

Insiders Place Their Bets

In related news, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction on Tuesday, August 19th. The stock was 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. This trade represents a 90.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders sold 7,402 shares of company stock valued at $2,273,407. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their target price on McDonald's from $300.00 to $315.00 and gave the company a "hold" rating in a report on Friday, August 22nd. Barclays boosted their target price on McDonald's from $355.00 to $360.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Guggenheim restated a "neutral" rating on shares of McDonald's in a research report on Friday, August 8th. Loop Capital downgraded McDonald's from a "buy" rating to a "hold" rating and lowered their price objective for the company from $346.00 to $315.00 in a research report on Friday, June 6th. Finally, Piper Sandler upped their target price on McDonald's from $314.00 to $325.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, McDonald's currently has a consensus rating of "Hold" and a consensus target price of $325.86.

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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