AGF Management Ltd. Sells 22,448 Shares of McDonald's Corporation (NYSE:MCD)

Key Points

• AGF Management Ltd. reduced its stake in McDonald's Corporation by 14.8%, selling 22,448 shares, bringing its total holdings to 129,482 shares valued at approximately $40.45 million.
• In a recent earnings report, McDonald's posted an EPS of $3.19, exceeding analyst expectations, and reported a 5.4% year-over-year revenue increase, reaching $6.84 billion.
• The company announced a quarterly dividend of $1.77 per share, reflecting a 2.3% yield and a payout ratio of 60.67%, with the dividend payable on September 16th.

AGF Management Ltd. cut its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 14.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,482 shares of the fast-food giant's stock after selling 22,448 shares during the period. AGF Management Ltd.'s holdings in McDonald's were worth $40,446,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MCD. Vanguard Group Inc. increased its holdings in shares of McDonald's by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant's stock worth $21,993,689,000 after acquiring an additional 239,753 shares during the period. Capital Research Global Investors grew its position in McDonald's by 5.2% in the 4th quarter. Capital Research Global Investors now owns 10,652,445 shares of the fast-food giant's stock valued at $3,088,037,000 after buying an additional 531,070 shares in the last quarter. Northern Trust Corp grew its position in McDonald's by 11.2% in the 4th quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant's stock valued at $2,570,511,000 after buying an additional 895,896 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in McDonald's by 11.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,019,019 shares of the fast-food giant's stock valued at $1,454,963,000 after buying an additional 504,085 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in McDonald's by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant's stock valued at $1,556,485,000 after buying an additional 815,768 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

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 shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction of $296,216.00. Following the completion of the sale, the chief marketing officer owned 7,882 shares in the company, valued at approximately $2,392,187. The trade was a 11.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,280 shares of company stock worth $2,215,178. Insiders own 0.25% of the company's stock.

McDonald's Stock Down 0.1%

MCD stock traded down $0.19 during midday trading on Friday, hitting $308.76. 3,392,863 shares of the company traded hands, compared to its average volume of 3,608,539. McDonald's Corporation has a twelve month low of $274.70 and a twelve month high of $326.32. The business has a 50 day simple moving average of $298.03 and a 200-day simple moving average of $304.85. The stock has a market capitalization of $220.33 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 3.11 and a beta of 0.52.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating the consensus estimate 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 company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter last year, the company posted $2.97 earnings per share. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts forecast that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a $1.77 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. McDonald's's dividend payout ratio (DPR) is presently 60.67%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MCD. Redburn Atlantic restated a "sell" rating and set a $260.00 price objective (down previously from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. Erste Group Bank cut shares of McDonald's from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. TD Securities reiterated a "hold" rating and issued a $305.00 target price on shares of McDonald's in a report on Thursday, June 5th. Guggenheim reiterated a "neutral" rating on shares of McDonald's in a report on Friday, August 8th. Finally, Barclays raised their target price on shares of McDonald's from $355.00 to $360.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, McDonald's currently has an average rating of "Hold" and a consensus price target of $326.87.

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.