Mirae Asset Global Investments Co. Ltd. Has $47.55 Million Stock Holdings in McDonald’s Co. (NYSE:MCD)

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of McDonald’s Co. (NYSE:MCD) by 5.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 176,083 shares of the fast-food giant’s stock after selling 10,168 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in McDonald’s were worth $47,547,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Prosperity Consulting Group LLC grew its stake in shares of McDonald’s by 210.7% in the 1st quarter. Prosperity Consulting Group LLC now owns 22,170 shares of the fast-food giant’s stock valued at $6,251,000 after buying an additional 15,034 shares in the last quarter. Avior Wealth Management LLC grew its position in McDonald’s by 21.0% in the first quarter. Avior Wealth Management LLC now owns 17,006 shares of the fast-food giant’s stock worth $4,795,000 after acquiring an additional 2,955 shares in the last quarter. Retirement Group LLC increased its stake in shares of McDonald’s by 24.8% during the 1st quarter. Retirement Group LLC now owns 332 shares of the fast-food giant’s stock worth $94,000 after purchasing an additional 66 shares during the last quarter. Mission Wealth Management LP raised its holdings in shares of McDonald’s by 1.3% during the 1st quarter. Mission Wealth Management LP now owns 18,210 shares of the fast-food giant’s stock valued at $5,134,000 after purchasing an additional 241 shares in the last quarter. Finally, Parthenon LLC boosted its holdings in McDonald’s by 0.7% in the first quarter. Parthenon LLC now owns 14,313 shares of the fast-food giant’s stock worth $4,036,000 after purchasing an additional 100 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Trading Up 0.4 %

Shares of McDonald’s stock traded up $1.09 during mid-day trading on Friday, reaching $251.09. 2,814,312 shares of the stock were exchanged, compared to its average volume of 3,366,292. McDonald’s Co. has a fifty-two week low of $245.73 and a fifty-two week high of $302.39. The company has a market cap of $180.96 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 2.81 and a beta of 0.71. The firm has a 50-day simple moving average of $260.73 and a 200 day simple moving average of $277.85.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter last year, the firm posted $2.63 EPS. The business’s revenue was up 4.6% on a year-over-year basis. On average, research analysts predict that McDonald’s Co. will post 12.19 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $1.67 per share. The ex-dividend date was Monday, June 3rd. This represents a $6.68 annualized dividend and a yield of 2.66%. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Insider Buying and Selling at McDonald’s

In other news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jonathan Banner sold 800 shares of McDonald’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at $5,225.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,593 shares of company stock worth $1,472,518. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MCD has been the topic of a number of analyst reports. Guggenheim lowered their price objective on McDonald’s from $315.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday. TD Cowen reiterated a “buy” rating and issued a $305.00 target price on shares of McDonald’s in a research note on Thursday, June 13th. Robert W. Baird cut their target price on shares of McDonald’s from $305.00 to $300.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. JPMorgan Chase & Co. raised their price target on McDonald’s from $290.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, June 3rd. Finally, Bank of America dropped their price objective on McDonald’s from $302.00 to $288.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 28th. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $313.89.

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.