McDonald's Corporation $MCD Stock Bought by BCV Asset Management Inc.

Key Points

• BCV Asset Management increased its McDonald’s stake by 126.2% in the third quarter, adding 148,159 shares and ending the period with 265,555 shares worth about $61.6 million.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $297.82; recommendations included 23 Buy or Strong Buy ratings, 14 Holds, and one Sell.
• McDonald’s quarterly earnings of $3.57 per share exceeded estimates, though revenue fell short. The company also raised its quarterly dividend from $1.86 to $1.93 per share.

BCV Asset Management Inc. raised its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 126.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 265,555 shares of the fast-food giant's stock after acquiring an additional 148,159 shares during the period. McDonald's makes up 1.9% of BCV Asset Management Inc.'s portfolio, making the stock its 24th largest holding. BCV Asset Management Inc.'s holdings in McDonald's were worth $61,576,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new stake in shares of McDonald's during the 2nd quarter worth approximately $1,359,276,000. Bessemer Group Inc. lifted its holdings in shares of McDonald's by 132.1% in the 1st quarter. Bessemer Group Inc. now owns 1,325,880 shares of the fast-food giant's stock valued at $412,071,000 after acquiring an additional 754,596 shares during the last quarter. State Street Corp grew its position in McDonald's by 1.8% in the second quarter. State Street Corp now owns 36,080,505 shares of the fast-food giant's stock worth $9,752,921,000 after acquiring an additional 646,675 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in McDonald's by 17.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,637,785 shares of the fast-food giant's stock worth $1,130,587,000 after acquiring an additional 533,448 shares in the last quarter. Finally, Ascentis Wealth Management LLC grew its position in McDonald's by 23,222.1% in the second quarter. Ascentis Wealth Management LLC now owns 478,103 shares of the fast-food giant's stock worth $129,236,000 after acquiring an additional 476,053 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MCD. Freedom Broker lowered shares of McDonald's from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $305.00 to $298.00 in a research note on Thursday, November 5th. Wells Fargo & Company increased their target price on shares of McDonald's from $270.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, November 5th. Gordon Haskett lowered their target price on shares of McDonald's from $315.00 to $285.00 and set a "buy" rating for the company in a report on Thursday, September 24th. Jefferies Financial Group dropped their price target on shares of McDonald's from $260.00 to $250.00 and set an "overweight" rating for the company in a research note on Tuesday, September 29th. Finally, Guggenheim cut their price target on shares of McDonald's from $290.00 to $250.00 and set a "neutral" rating on the stock in a report on Monday, October 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, McDonald's has an average rating of "Moderate Buy" and an average price target of $297.82.

McDonald's Stock Performance

NYSE:MCD opened at $272.12 on Friday. The company's 50-day simple moving average is $250.24 and its 200-day simple moving average is $281.75. McDonald's Corporation has a fifty-two week low of $229.20 and a fifty-two week high of $341.75. The stock has a market capitalization of $192.06 billion, a P/E ratio of 21.53, a P/E/G ratio of 3.16 and a beta of 0.42.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The fast-food giant reported $3.57 EPS for the quarter, topping the consensus estimate of $3.38 by $0.19. The firm had revenue of $7.16 billion during the quarter, compared to analyst estimates of $7.28 billion. McDonald's had a net margin of 32.38% and a negative return on equity of 826.29%. McDonald's's revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.22 EPS. On average, research analysts forecast that McDonald's Corporation will post 12.91 EPS for the current year.

McDonald's Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $1.93 per share. This represents a $7.72 annualized dividend and a dividend yield of 2.8%. This is an increase from McDonald's's previous quarterly dividend of $1.86. The ex-dividend date is Tuesday, December 1st. McDonald's's dividend payout ratio is currently 58.86%.

More McDonald's News

Investors following MCD have been watching these news items:

• Positive Sentiment: McDonald’s has raised its dividend for 50 consecutive years and yields about 2.74%. Its franchise-heavy rent-and-royalty model is described as providing steady cash flow to support future payouts. McDonald's Is a Dividend King With 50 Years of Raises
• Positive Sentiment: Uber is expanding its McDonald’s delivery partnership across 14 markets, which could increase delivery orders and customer engagement. Is Uber's Expansion of Delivery Tie-Up With MCD a Growth Catalyst?
• Positive Sentiment: A report says a recent U.S. recovery and growth initiatives helped drive a 17% gain over a month, while strong demand for new chicken sandwiches in Japan is another indication that product launches can resonate with customers. McDonald's Stock Up 17% in a Month: Is the Rally Built to Last? McDonald’s Japan pulls new chicken sandwiches after they sell too well

McDonald's Company Profile

McDonald’s Corporation is a global quick-service restaurant company that operates and franchises restaurants under the McDonald’s brand. Its restaurants serve a menu that includes hamburgers, cheeseburgers, chicken sandwiches, French fries, breakfast items, desserts, salads, beverages and coffee. Offerings vary by market, and many locations provide drive-thru service, delivery and digital ordering through the McDonald’s mobile app. The company operates through a heavily franchised business model, with restaurants owned and operated by independent franchisees, affiliates and the company itself.

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