TD Asset Management Inc Lowers Stake in McDonald's Corporation $MCD

Key Points

• TD Asset Management Inc reduced its stake in McDonald's Corporation by 13.4%, owning approximately 1.24 million shares worth $361.9 million after selling 192,227 shares in the second quarter.
• Recent insider trading included Jonathan Banner selling 1,000 shares for $310,000, resulting in a 90.99% decrease in his holdings, while total insider sales over the last three months amounted to approximately $1.97 million.
• McDonald's announced a quarterly dividend of $1.77 per share, with a dividend yield of 2.4%, demonstrating a consistent approach to returning value to shareholders.

TD Asset Management Inc lessened its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 13.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,238,816 shares of the fast-food giant's stock after selling 192,227 shares during the period. TD Asset Management Inc owned approximately 0.17% of McDonald's worth $361,945,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of McDonald's by 0.3% during the first quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant's stock worth $21,993,689,000 after purchasing an additional 239,753 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of McDonald's by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant's stock worth $2,917,993,000 after purchasing an additional 1,344,954 shares in the last quarter. Northern Trust Corp lifted its stake in shares of McDonald's by 1.1% during the first quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant's stock worth $2,800,447,000 after purchasing an additional 97,966 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of McDonald's by 2.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant's stock worth $1,606,354,000 after purchasing an additional 123,454 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of McDonald's by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant's stock worth $1,556,485,000 after purchasing an additional 815,768 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company's stock.

Insider Buying and Selling

In related news, EVP Jonathan Banner sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the sale, the executive vice president directly owned 99 shares in the company, valued at $30,690. This trade represents a 90.99% decrease in their position. The transaction was disclosed in a legal filing 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 that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,402 shares of company stock valued at $1,973,407 over the last three months. 0.25% of the stock is owned by company insiders.

McDonald's Stock Up 1.0%

Shares of NYSE MCD opened at $300.10 on Tuesday. The stock's 50 day moving average price is $306.23 and its two-hundred day moving average price is $305.64. McDonald's Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The stock has a market capitalization of $214.15 billion, a P/E ratio of 25.72, a PEG ratio of 3.12 and a beta of 0.50.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $6.68 billion. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.McDonald's'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 posted $2.97 earnings per share. On average, analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $1.77 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.4%. McDonald's's dividend payout ratio is 60.67%.

Analyst Ratings Changes

MCD has been the topic of several recent analyst reports. KeyCorp reiterated an "overweight" rating and issued a $335.00 price target (up previously from $325.00) on shares of McDonald's in a research note on Thursday, August 7th. Melius initiated coverage on McDonald's in a research note on Monday, July 14th. They issued a "sell" rating and a $250.00 price target on the stock. Evercore ISI boosted their price target on McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Barclays boosted their price target on McDonald's from $355.00 to $360.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Citigroup boosted their price target on McDonald's from $373.00 to $381.00 and gave the stock a "buy" rating in a research note on Wednesday, September 17th. Eleven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, McDonald's currently has an average rating of "Hold" and a consensus price target of $325.18.

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.

Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald's Corporation (NYSE:MCD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.