Resona Asset Management Co. Ltd. Increases Position in McDonald's Corporation (NYSE:MCD)

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in McDonald's Corporation by 7.2%, acquiring an additional 17,900 shares, bringing its total ownership to 265,030 shares valued at approximately $82.56 million.
• Insider transactions show Joseph M. Erlinger and Desiree Ralls-Morrison sold shares, resulting in respective ownership decreases of 9.19% and 22.12%.
• McDonald's announced a quarterly dividend of $1.77 per share, leading to an annualized dividend of $7.08 and a dividend yield of 2.3%.

Resona Asset Management Co. Ltd. boosted its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 265,030 shares of the fast-food giant's stock after acquiring an additional 17,900 shares during the period. Resona Asset Management Co. Ltd.'s holdings in McDonald's were worth $82,561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCD. WealthPlan Investment Management LLC raised its position in McDonald's by 0.9% in the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant's stock worth $1,134,000 after purchasing an additional 32 shares during the period. Granite Bay Wealth Management LLC raised its stake in shares of McDonald's by 3.5% during the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock valued at $309,000 after acquiring an additional 33 shares during the last quarter. CVA Family Office LLC raised its stake in shares of McDonald's by 1.9% during the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock valued at $560,000 after acquiring an additional 33 shares during the last quarter. Consilium Wealth Advisory LLC raised its stake in shares of McDonald's by 2.5% during the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock valued at $417,000 after acquiring an additional 33 shares during the last quarter. Finally, Security Financial Services INC. raised its stake in shares of McDonald's by 0.7% during the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock valued at $1,575,000 after acquiring an additional 33 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald's Price Performance

McDonald's stock traded down $0.19 during midday trading on Friday, reaching $308.76. 3,404,070 shares of the company traded hands, compared to its average volume of 3,615,138. The firm 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. The business has a 50 day moving average of $298.03 and a two-hundred day moving average of $304.85. McDonald's Corporation has a 12 month low of $274.70 and a 12 month high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating analysts' consensus estimates of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.97 earnings per share. As a group, equities analysts forecast that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

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

Wall Street Analyst Weigh In

MCD has been the subject of several recent analyst reports. Truist Financial upped 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. KeyCorp reaffirmed 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. Bank of America lowered their price objective on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Citigroup boosted their price target on shares of McDonald's from $364.00 to $365.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Argus cut shares of McDonald's from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $326.87.

Insiders Place Their Bets

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the transaction, the chief marketing officer directly owned 8,858 shares in the company, valued at approximately $2,657,400. This trade represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 8,754 shares in the company, valued at $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,280 shares of company stock worth $2,215,178. Company insiders own 0.25% of the company's stock.

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.