McDonald's Corporation (NYSE:MCD) Shares Bought by Prudential PLC

Key Points

• Prudential PLC increased its stake in McDonald's by 3.6%, owning 81,787 shares valued at approximately $25.55 million as of its latest SEC filing.
• Several analysts have upgraded McDonald's stock, with price targets raised by firms like Goldman Sachs and Evercore ISI, indicating a strong positive outlook for the company.
• McDonald's recently announced a quarterly dividend of $1.77, scheduled for payment on September 16th, representing a 2.3% yield based on an annualized dividend of $7.08.

Prudential PLC boosted its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 3.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,787 shares of the fast-food giant's stock after purchasing an additional 2,848 shares during the period. Prudential PLC's holdings in McDonald's were worth $25,548,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in 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 in the last quarter. Capital Research Global Investors grew its stake 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 worth $3,088,037,000 after acquiring an additional 531,070 shares in the last quarter. Northern Trust Corp grew its stake 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 worth $2,570,511,000 after acquiring an additional 895,896 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake 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 worth $1,454,963,000 after acquiring an additional 504,085 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake 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 worth $1,556,485,000 after acquiring an additional 815,768 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald's Trading Down 0.1%

Shares of NYSE MCD traded down $0.19 during midday trading on Friday, reaching $308.76. The company had a trading volume of 3,404,070 shares, compared to its average volume of 3,615,138. The business's 50-day simple moving average is $298.03 and its 200 day simple moving average is $304.85. The stock has a market cap of $220.33 billion, a P/E ratio of 26.46, a P/E/G ratio of 3.11 and a beta of 0.52. McDonald's Corporation has a 1 year low of $274.70 and a 1 year high of $326.32.

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

McDonald's Announces Dividend

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

Insiders Place Their Bets

In related 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 transaction of $281,221.11. Following the completion of the transaction, the insider owned 9,283 shares of the company's stock, valued at $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares of the company's stock, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,280 shares of company stock valued at $2,215,178. Insiders own 0.25% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Evercore ISI upped their target price on shares of McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. KeyCorp reiterated an "overweight" rating and set a $335.00 price objective (up from $325.00) on shares of McDonald's in a research note on Thursday, August 7th. Truist Financial increased their price objective on shares of McDonald's from $356.00 to $360.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Northcoast Research downgraded shares of McDonald's from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. Finally, Citigroup increased their price objective on shares of McDonald's from $364.00 to $365.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. 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 stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $326.87.

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.