The Manufacturers Life Insurance Company Boosts Stock Position in McDonald's Corporation $MCD

Key Points

• The Manufacturers Life Insurance Company increased its stake in McDonald's Corporation by 58.2%, acquiring 288,390 shares during the first quarter, totaling approximately $244.76 million in value.
• Insider sales included CMO Edith Morgan Flatley reducing her holdings by 11.02% and EVP Jonathan Banner selling 90.99% of his position, indicating notable insider activity.
• McDonald's recently declared a quarterly dividend of $1.77, set to be paid on September 16th, representing a dividend yield of 2.3%.

The Manufacturers Life Insurance Company increased its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 58.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 783,552 shares of the fast-food giant's stock after buying an additional 288,390 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.11% of McDonald's worth $244,758,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. First American Trust FSB raised its stake in McDonald's by 55.9% during the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant's stock worth $11,532,000 after buying an additional 13,234 shares during the period. Red Door Wealth Management LLC increased its holdings in McDonald's by 1.9% during the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant's stock worth $1,788,000 after purchasing an additional 109 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in McDonald's by 5.6% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant's stock worth $107,867,000 after purchasing an additional 18,393 shares in the last quarter. Sagespring Wealth Partners LLC increased its holdings in McDonald's by 22.9% during the 1st quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant's stock worth $5,381,000 after purchasing an additional 3,212 shares in the last quarter. Finally, Segment Wealth Management LLC increased its holdings in McDonald's by 1.7% during the 1st quarter. Segment Wealth Management LLC now owns 54,672 shares of the fast-food giant's stock worth $17,078,000 after purchasing an additional 937 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on MCD shares. Bank of America decreased their price objective on McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Evercore ISI boosted their price objective on McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Piper Sandler boosted their price objective on McDonald's from $314.00 to $325.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Citigroup boosted their target price on McDonald's from $364.00 to $365.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $335.00 target price (up from $325.00) on shares of McDonald's in a report on Thursday, August 7th. Thirteen analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $326.38.

Insider Transactions at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the transaction, the insider directly owned 9,283 shares of the company's stock, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the sale, the chief marketing officer owned 8,858 shares in the company, valued at approximately $2,657,400. This represents a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,341 shares of company stock valued at $2,229,327 in the last three months. 0.25% of the stock is currently owned by company insiders.

McDonald's Trading Up 0.5%

Shares of MCD stock traded up $1.46 during trading hours on Monday, hitting $313.68. 2,490,658 shares of the company were exchanged, compared to its average volume of 3,446,957. The stock has a market capitalization of $223.85 billion, a price-to-earnings ratio of 26.88, a P/E/G ratio of 3.19 and a beta of 0.49. The firm has a fifty day simple moving average of $301.22 and a 200 day simple moving average of $306.16. McDonald's Corporation has a 52-week low of $276.53 and a 52-week high of $326.32.

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 for the quarter, beating the consensus estimate of $3.15 by $0.04. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same period in the prior year, the company earned $2.97 earnings per share. McDonald's's revenue was up 5.4% compared to the same quarter last year. Sell-side analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's dividend payout ratio is 60.67%.

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.