Voya Investment Management LLC Acquires 98,288 Shares of McDonald's Corporation $MCD

Key Points

• Voya Investment Management LLC increased its stake in McDonald's by 16.1%, owning a total of 710,161 shares worth approximately $221.83 million as of the latest SEC filing.
• During the first quarter, several hedge funds, including Nuveen LLC and GAMMA Investing LLC, made significant changes to their positions in McDonald's, indicating strong institutional interest in the stock.
• Analysts have set new price targets for McDonald's, with a majority rating it as a "Hold," and the average target price now stands at $325.14.

Voya Investment Management LLC raised its position in McDonald's Corporation (NYSE:MCD - Free Report) by 16.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 710,161 shares of the fast-food giant's stock after buying an additional 98,288 shares during the quarter. Voya Investment Management LLC owned 0.10% of McDonald's worth $221,833,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Nova Wealth Management Inc. bought a new position in McDonald's during the first quarter worth about $26,000. HFM Investment Advisors LLC acquired a new position in shares of McDonald's during the 1st quarter worth approximately $26,000. Mascagni Wealth Management Inc. bought a new position in shares of McDonald's during the fourth quarter worth approximately $25,000. Abound Financial LLC acquired a new stake in shares of McDonald's in the first quarter valued at approximately $30,000. Finally, Pinney & Scofield Inc. bought a new stake in shares of McDonald's in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 70.29% of the company's stock.

Analyst Upgrades and Downgrades

MCD has been the topic of a number of recent research reports. TD Cowen raised their price objective on McDonald's from $305.00 to $315.00 and gave the stock a "hold" rating in a research note on Wednesday, August 6th. Redburn Atlantic restated a "sell" rating and issued a $260.00 price target (down previously from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. Barclays boosted their price target on McDonald's from $355.00 to $360.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Stifel Nicolaus increased their price objective on shares of McDonald's from $300.00 to $315.00 and gave the stock a "hold" rating in a research note on Friday, August 22nd. Finally, The Goldman Sachs Group upgraded shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 target price for the company in a research report on Thursday, July 10th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, McDonald's presently has an average rating of "Hold" and a consensus price target of $325.14.

Insider Transactions at McDonald's

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the transaction, the chief marketing officer directly owned 6,858 shares in the company, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,341 shares of company stock valued at $2,544,327 over the last quarter. 0.25% of the stock is currently owned by insiders.

McDonald's Stock Down 1.0%

Shares of MCD stock traded down $2.94 on Friday, reaching $305.49. The company had a trading volume of 2,072,499 shares, compared to its average volume of 2,771,965. The business's 50-day moving average is $305.33 and its 200 day moving average is $306.57. McDonald's Corporation has a one year low of $276.53 and a one year high of $326.32. The stock has a market capitalization of $218.00 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 3.11 and a beta of 0.49.

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

McDonald's Dividend Announcement

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

About McDonald's

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.