TD Waterhouse Canada Inc. Has $119.01 Million Stock Position in McDonald's Corporation $MCD

Key Points

• TD Waterhouse Canada reduced its McDonald’s stake by 1.7% in the second quarter, selling 7,810 shares and retaining 441,443 shares worth approximately $119.0 million. Institutional investors collectively own 70.29% of MCD.
• Analysts maintain a generally positive outlook, with McDonald’s carrying a consensus “Moderate Buy” rating and an average price target of $325.44, despite several recent target reductions.
• McDonald’s reported quarterly EPS of $3.38, exceeding estimates, while revenue reached $7.10 billion and rose 3.7% year over year. The company also declared a quarterly dividend of $1.86 per share, representing a 2.7% yield.

TD Waterhouse Canada Inc. reduced its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 1.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 441,443 shares of the fast-food giant's stock after selling 7,810 shares during the quarter. TD Waterhouse Canada Inc. owned approximately 0.06% of McDonald's worth $119,007,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in MCD. Your Advocates Ltd. LLP acquired a new position in McDonald's during the fourth quarter worth $27,000. IFC & Insurance Marketing Inc. acquired a new stake in McDonald's in the 4th quarter valued at $29,000. Abound Financial LLC bought a new stake in McDonald's during the 4th quarter worth about $30,000. DecisionPoint Financial LLC lifted its position in McDonald's by 1,616.7% during the 4th quarter. DecisionPoint Financial LLC now owns 103 shares of the fast-food giant's stock worth $31,000 after buying an additional 97 shares in the last quarter. Finally, Entrust Financial LLC acquired a new position in shares of McDonald's during the 4th quarter worth about $31,000. Institutional investors own 70.29% of the company's stock.

Wall Street Analysts Forecast Growth

MCD has been the subject of several analyst reports. Piper Sandler set a $286.00 price objective on McDonald's in a report on Tuesday, August 4th. Barclays reduced their price target on McDonald's from $380.00 to $350.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Mizuho decreased their price target on McDonald's from $300.00 to $290.00 and set a "neutral" rating for the company in a research note on Friday, July 31st. Freedom Capital upgraded McDonald's from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. Finally, Citigroup increased their price objective on McDonald's from $335.00 to $345.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $325.44.

McDonald's Stock Performance

Shares of NYSE:MCD opened at $272.28 on Friday. McDonald's Corporation has a 52-week low of $260.96 and a 52-week high of $341.75. The company has a market capitalization of $192.68 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 3.09 and a beta of 0.41. The company has a 50-day simple moving average of $273.95 and a 200 day simple moving average of $295.44.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The fast-food giant reported $3.38 EPS for the quarter, topping analysts' consensus estimates of $3.32 by $0.06. The business had revenue of $7.10 billion during the quarter, compared to analysts' expectations of $7.13 billion. McDonald's had a negative return on equity of 512.80% and a net margin of 31.72%.McDonald's's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company posted $3.19 earnings per share. As a group, equities analysts forecast that McDonald's Corporation will post 12.88 earnings per share for the current year.

McDonald's Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, September 1st. McDonald's's payout ratio is currently 60.44%.

Trending Headlines about McDonald's

Here are the key news stories impacting McDonald's this week:

• Positive Sentiment: Nationwide menu initiatives, including new energy-focused beverages, seven menu additions, and the limited-time Hello Kitty and Godzilla Happy Meal promotion, could support traffic, customer engagement, and comparable-sales growth. McDonald’s serving up new kind of energy boost on menus nationwide
• Positive Sentiment: Some analysts see potential upside toward the mid-$300s if McDonald’s improves U.S. same-store sales and executes its McDonald’s NEXT strategy effectively. The company also continues to benefit from its large franchise and real-estate platform. McDonald’s stock gets fair value trim as analysts split on U.S. execution

Insider Buying and Selling

In other McDonald's news, insider Joseph M. Erlinger sold 5,252 shares of the firm's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $284.32, for a total transaction of $1,493,248.64. Following the completion of the sale, the insider owned 7,734 shares of the company's stock, valued at $2,198,930.88. This trade represents a 40.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,763 shares of McDonald's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $278.36, for a total transaction of $769,108.68. Following the transaction, the executive vice president directly owned 6,268 shares of the company's stock, valued at approximately $1,744,760.48. This trade represents a 30.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 8,348 shares of company stock worth $2,355,634 over the last three months. 0.26% of the stock is owned by insiders.

About McDonald's

McDonald's Corporation NYSE: MCD is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald's serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand's national and international expansion.

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