MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in McDonald's Co. (NYSE:MCD - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,834 shares of the fast-food giant's stock, valued at approximately $1,472,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Legal & General Group Plc increased its stake in shares of McDonald's by 3.2% in the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant's stock valued at $1,567,030,000 after buying an additional 188,888 shares during the period. Capital Research Global Investors grew its stake in McDonald's by 66.9% during the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant's stock worth $1,542,550,000 after purchasing an additional 2,193,769 shares during the period. Ameriprise Financial Inc. grew its stake in McDonald's by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant's stock worth $1,216,677,000 after purchasing an additional 354,196 shares during the period. Capital World Investors grew its stake in McDonald's by 39.7% during the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant's stock worth $1,005,264,000 after purchasing an additional 1,012,534 shares during the period. Finally, Fayez Sarofim & Co grew its stake in McDonald's by 0.4% during the first quarter. Fayez Sarofim & Co now owns 2,273,354 shares of the fast-food giant's stock worth $640,972,000 after purchasing an additional 8,475 shares during the period. Institutional investors and hedge funds own 70.29% of the company's stock.
Several research firms recently commented on MCD. Truist Financial decreased their target price on McDonald's from $300.00 to $295.00 and set a "buy" rating for the company in a research note on Tuesday, July 30th. Argus raised McDonald's from a "hold" rating to a "buy" rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. increased their price target on McDonald's from $270.00 to $290.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. KeyCorp increased their price target on McDonald's from $305.00 to $330.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Finally, Stifel Nicolaus cut their price target on McDonald's from $285.00 to $265.00 and set a "hold" rating on the stock in a report on Monday, July 22nd. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $310.50.
Get Our Latest Analysis on MCD
In related news, insider Joseph M. Erlinger sold 1,099 shares of the company's stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares of the company's stock, valued at $3,557,060. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Marion K. Gross sold 1,498 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares of the company's stock, valued at $3,557,060. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,751 shares of company stock valued at $9,493,973. Corporate insiders own 0.23% of the company's stock.
Shares of NYSE:MCD opened at $310.05 on Tuesday. McDonald's Co. has a 1 year low of $243.53 and a 1 year high of $310.42. The business has a 50 day simple moving average of $291.04 and a two-hundred day simple moving average of $272.69. The firm has a market capitalization of $223.45 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73.
McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.07 by ($0.10). The firm had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.62 billion. McDonald's had a net margin of 32.25% and a negative return on equity of 178.68%. The firm's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.17 EPS. Equities research analysts expect that McDonald's Co. will post 11.71 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald's's previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.28%. McDonald's's dividend payout ratio is presently 60.10%.
McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.
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