McDonald's Corporation (NYSE:MCD) Stake Boosted by Scotia Capital Inc.

Key Points

• Scotia Capital Inc. increased its stake in McDonald's by 6.4%, owning 533,348 shares worth approximately $166.6 million as of its latest SEC filing.
• McDonald's recently announced a quarterly dividend of $1.77 per share, with an annualized payout representing a yield of 2.3%.
• The stock currently has an average rating of "Hold" from analysts, with a consensus price target of $323.39.

Scotia Capital Inc. grew its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 533,348 shares of the fast-food giant's stock after acquiring an additional 32,140 shares during the period. Scotia Capital Inc. owned 0.07% of McDonald's worth $166,601,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new position in shares of McDonald's during the fourth quarter valued at about $25,000. Pinney & Scofield Inc. bought a new stake in McDonald's during the fourth quarter worth about $29,000. GKV Capital Management Co. Inc. bought a new stake in McDonald's during the fourth quarter worth about $30,000. Abound Financial LLC bought a new stake in shares of McDonald's during the first quarter valued at approximately $30,000. Finally, Copia Wealth Management bought a new stake in shares of McDonald's during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 70.29% of the company's stock.

McDonald's Stock Performance

Shares of MCD stock opened at $302.88 on Friday. The company has a market capitalization of $216.57 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 3.17 and a beta of 0.52. The company has a 50-day simple moving average of $299.44 and a 200 day simple moving average of $303.66. McDonald's Corporation has a 52 week low of $265.33 and a 52 week high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last announced its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting the consensus estimate of $2.67. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. McDonald's's revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.70 EPS. Sell-side analysts forecast that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. McDonald's's payout ratio is presently 62.49%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of McDonald's from $324.00 to $326.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Truist Financial raised their price objective on shares of McDonald's from $350.00 to $356.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Erste Group Bank lowered shares of McDonald's from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. TD Securities restated a "hold" rating and set a $305.00 price objective on shares of McDonald's in a report on Thursday, June 5th. Finally, KeyCorp dropped their price objective on shares of McDonald's from $340.00 to $325.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $323.39.

Insider Activity

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the sale, the chief marketing officer owned 8,858 shares of the company's stock, valued at $2,657,400. The trade was a 10.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the business'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. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,817 shares of company stock valued at $1,147,992 in the last ninety days. 0.25% of the stock is currently owned by insiders.

McDonald's Company 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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