McDonald's Corporation $MCD Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments increased its stake in McDonald's Corporation by 8.0%, bringing its total holdings to 105,529 shares worth approximately $30.8 million as of the latest SEC filing.
• McDonald's reported a quarterly EPS of $3.19, exceeding analysts' expectations, with revenues of $6.84 billion, reflecting a 5.4% year-over-year increase.
• The company announced a quarterly dividend of $1.77, resulting in an annualized dividend of $7.08, with a yield of 2.4%, and maintaining a payout ratio of 60.67%.

Mirae Asset Global Investments Co. Ltd. grew its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 8.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,529 shares of the fast-food giant's stock after acquiring an additional 7,783 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in McDonald's were worth $30,832,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Jmac Enterprises LLC lifted its position in shares of McDonald's by 18.2% during the 2nd quarter. Jmac Enterprises LLC now owns 3,244 shares of the fast-food giant's stock worth $948,000 after purchasing an additional 500 shares during the last quarter. Rainey & Randall Wealth Advisors Inc. lifted its position in shares of McDonald's by 0.9% during the 2nd quarter. Rainey & Randall Wealth Advisors Inc. now owns 11,828 shares of the fast-food giant's stock worth $3,456,000 after purchasing an additional 111 shares during the last quarter. Cornell Pochily Investment Advisors Inc. lifted its position in shares of McDonald's by 4.2% during the 2nd quarter. Cornell Pochily Investment Advisors Inc. now owns 6,248 shares of the fast-food giant's stock worth $1,826,000 after purchasing an additional 254 shares during the last quarter. Tower View Wealth Management LLC lifted its position in shares of McDonald's by 2.0% during the 2nd quarter. Tower View Wealth Management LLC now owns 11,791 shares of the fast-food giant's stock worth $3,445,000 after purchasing an additional 226 shares during the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of McDonald's during the 2nd quarter worth $566,000. Institutional investors and hedge funds own 70.29% of the company's stock.

Insider Buying and Selling at McDonald's

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the sale, the executive vice president directly owned 8,754 shares of the company's stock, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were 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 of the company's stock, valued at $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,402 shares of company stock valued at $2,273,407 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

McDonald's Price Performance

Shares of MCD opened at $300.72 on Friday. McDonald's Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The stock has a market cap of $214.59 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 3.05 and a beta of 0.50. The firm has a fifty day moving average price of $306.93 and a 200 day moving average price of $306.17.

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

McDonald's Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald's's dividend payout ratio is presently 60.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MCD shares. JPMorgan Chase & Co. lifted their price objective on shares of McDonald's from $305.00 to $310.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Melius started coverage on shares of McDonald's in a research report on Monday, July 14th. They set a "sell" rating and a $250.00 price objective for the company. 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 research report on Friday, August 8th. The Goldman Sachs Group raised shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price target for the company in a research report on Thursday, July 10th. Finally, Loop Capital cut shares of McDonald's from a "buy" rating to a "hold" rating and reduced their price target for the company from $346.00 to $315.00 in a research report on Friday, June 6th. Twelve investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $325.86.

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.

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