Sumitomo Mitsui Trust Group Inc. Raises Stock Position in McDonald’s Co. (NYSE:MCD)

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,015,441 shares of the fast-food giant’s stock after buying an additional 22,780 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in McDonald’s were worth $613,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Kings Path Partners LLC acquired a new position in McDonald’s during the 2nd quarter valued at approximately $38,000. Hara Capital LLC purchased a new stake in shares of McDonald’s during the third quarter valued at $44,000. Opal Wealth Advisors LLC acquired a new position in shares of McDonald’s in the 2nd quarter valued at $59,000. Bbjs Financial Advisors LLC acquired a new stake in McDonald’s during the 2nd quarter worth about $65,000. Finally, Macroview Investment Management LLC grew its stake in McDonald’s by 433.3% during the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after purchasing an additional 208 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCD has been the topic of several research reports. UBS Group increased their price target on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Loop Capital reissued a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Wedbush reiterated an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a research report on Wednesday, October 23rd. Finally, Barclays boosted their price target on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and an average price target of $319.46.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,596 shares of company stock worth $10,698,289 over the last three months. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Stock Performance

NYSE MCD opened at $301.53 on Tuesday. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The firm has a market cap of $216.30 billion, a PE ratio of 26.47, a P/E/G ratio of 3.98 and a beta of 0.74. The firm’s fifty day moving average is $299.34 and its two-hundred day moving average is $276.82.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the business posted $3.19 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Research analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.35%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is 58.65%.

McDonald’s Profile

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.