USS Investment Management Ltd Has $35.46 Million Position in McDonald's Corporation $MCD

Key Points

• USS Investment Management Ltd reduced its stake in McDonald's Corporation by 28.8%, selling 45,927 shares and holding a total of 113,553 shares worth approximately $35.46 million.
• McDonald's reported a quarterly earnings of $3.19 per share, surpassing analysts' estimates, and achieved a revenue of $6.84 billion, which also exceeded expectations.
• The company announced a quarterly dividend of $1.77 per share, representing an annualized dividend of $7.08 and a dividend yield of 2.3%.

USS Investment Management Ltd trimmed its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 28.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,553 shares of the fast-food giant's stock after selling 45,927 shares during the period. USS Investment Management Ltd's holdings in McDonald's were worth $35,460,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in McDonald's by 0.3% in the 1st 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 during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of McDonald's by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant's stock valued at $2,917,993,000 after buying an additional 1,344,954 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of McDonald's by 1.1% during the 1st quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant's stock worth $2,800,447,000 after acquiring an additional 97,966 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in McDonald's by 11.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,019,019 shares of the fast-food giant's stock valued at $1,454,963,000 after acquiring an additional 504,085 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in McDonald's by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant's stock valued at $1,556,485,000 after acquiring an additional 815,768 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCD has been the topic of a number of recent research reports. Morgan Stanley lifted their price objective on McDonald's from $324.00 to $326.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. TD Cowen boosted their price target on McDonald's from $305.00 to $315.00 and gave the company a "hold" rating in a research note on Wednesday, August 6th. Argus cut McDonald's from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. KeyCorp reissued an "overweight" rating and set a $335.00 price objective (up from $325.00) on shares of McDonald's in a report on Thursday, August 7th. Finally, Bank of America reduced their target price on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $325.14.

Insider Transactions at McDonald's

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the sale, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of McDonald's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares of the company's stock, valued at approximately $30,690. The trade was a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,341 shares of company stock valued at $2,544,327 in the last three months. Company insiders own 0.25% of the company's stock.

McDonald's Price Performance

Shares of MCD stock traded down $1.58 during trading hours on Friday, hitting $306.85. 673,708 shares of the company's stock were exchanged, compared to its average volume of 3,530,707. McDonald's Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The stock has a market cap of $218.97 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 3.12 and a beta of 0.50. The stock's 50-day moving average is $305.09 and its 200-day moving average is $306.61.

McDonald's (NYSE:MCD - Get Free Report) last announced its earnings results 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. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.The company had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same period last year, the company posted $2.97 earnings per share. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Announces Dividend

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