Mirae Asset Global Investments Co. Ltd. Has $30.53 Million Position in McDonald's Corporation (NYSE:MCD)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 22.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,746 shares of the fast-food giant's stock after buying an additional 18,158 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in McDonald's were worth $30,533,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Mascagni Wealth Management Inc. acquired a new stake in shares of McDonald's in the 4th quarter worth about $25,000. Atala Financial Inc bought a new position in McDonald's in the 4th quarter worth about $26,000. Pinney & Scofield Inc. acquired a new stake in shares of McDonald's in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC raised its holdings in shares of McDonald's by 110.0% during the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant's stock valued at $30,000 after buying an additional 55 shares during the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of McDonald's during the fourth quarter worth approximately $30,000. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald's Stock Performance

Shares of MCD stock traded down $2.64 during trading hours on Wednesday, hitting $294.86. The company had a trading volume of 2,949,364 shares, compared to its average volume of 3,535,520. McDonald's Corporation has a 12 month low of $243.53 and a 12 month high of $326.32. The firm's fifty day moving average is $307.49 and its 200 day moving average is $302.45. The firm has a market capitalization of $210.83 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 3.05 and a beta of 0.53.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.67. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The company had revenue of $5.96 billion during the quarter, compared to analysts' expectations of $6.17 billion. During the same period last year, the business earned $2.70 earnings per share. The business's revenue was down 3.5% on a year-over-year basis. On average, sell-side analysts expect that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $1.77 dividend. The ex-dividend date was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.40%. McDonald's's dividend payout ratio (DPR) is presently 62.49%.

Analyst Ratings Changes

A number of research firms have commented on MCD. Truist Financial set a $350.00 price target on shares of McDonald's in a research report on Friday, May 2nd. Argus downgraded shares of McDonald's from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. BMO Capital Markets reissued an "outperform" rating and issued a $345.00 price objective (up from $340.00) on shares of McDonald's in a research note on Monday, May 5th. Erste Group Bank cut shares of McDonald's from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Citigroup raised their price objective on shares of McDonald's from $353.00 to $364.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $321.17.

Insider Activity

In other news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $288.52, for a total value of $270,920.28. Following the completion of the sale, the insider directly owned 10,222 shares of the company's stock, valued at approximately $2,949,251.44. This trade represents a 8.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 2,817 shares of company stock worth $865,843 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

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.