TD Asset Management Inc Has $447.02 Million Stake in McDonald's Corporation (NYSE:MCD)

Key Points

• TD Asset Management Inc increased its ownership in McDonald's Corporation by 10.3% in the first quarter, now holding 1,431,043 shares valued at approximately $447 million.
• Various institutional investors collectively own 70.29% of McDonald's stock, indicating strong institutional interest in the company.
• The company recently announced a quarterly dividend of $1.77, which will be paid to shareholders on September 16th, representing an annualized yield of 2.37%.

TD Asset Management Inc grew its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 10.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,431,043 shares of the fast-food giant's stock after acquiring an additional 133,133 shares during the quarter. TD Asset Management Inc owned 0.20% of McDonald's worth $447,015,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Mascagni Wealth Management Inc. acquired a new position in shares of McDonald's in the fourth quarter valued at approximately $25,000. Abound Financial LLC acquired a new position in shares of McDonald's in the first quarter valued at approximately $30,000. Pinney & Scofield Inc. acquired a new position in shares of McDonald's in the fourth quarter valued at approximately $29,000. Redmont Wealth Advisors LLC acquired a new position in shares of McDonald's in the first quarter valued at approximately $31,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of McDonald's in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 70.29% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Bank of America lowered their price objective on McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Erste Group Bank downgraded McDonald's from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 24th. Argus cut McDonald's from a "buy" rating to a "hold" rating in a report on Friday, June 13th. Truist Financial upped their target price on McDonald's from $350.00 to $356.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, 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. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $322.00.

Insider Activity

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the transaction, the chief marketing officer owned 8,858 shares in the company, valued at $2,657,400. This trade represents a 10.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, the insider owned 9,283 shares of the company's stock, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,817 shares of company stock valued at $1,147,992. 0.25% of the stock is owned by corporate insiders.

McDonald's Price Performance

Shares of McDonald's stock opened at $298.25 on Friday. McDonald's Corporation has a 1 year low of $250.23 and a 1 year high of $326.32. The firm has a market cap of $213.26 billion, a PE ratio of 26.32, a P/E/G ratio of 3.08 and a beta of 0.53. The stock has a fifty day moving average price of $301.00 and a 200-day moving average price of $302.91.

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

McDonald's Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders 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 yield of 2.37%. McDonald's's dividend payout ratio is currently 62.49%.

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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