McDonald’s Co. (NYSE:MCD) Stock Holdings Lifted by Forsta AP Fonden

26 Oct 2024, 19:40 by Kim Johansen · The Markets Daily

Forsta AP Fonden raised its position in McDonald’s Co. (NYSE:MCD – Free Report) by 8.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,100 shares of the fast-food giant’s stock after purchasing an additional 15,500 shares during the quarter. Forsta AP Fonden’s holdings in McDonald’s were worth $61,541,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc increased its holdings in shares of McDonald’s by 3.2% during the 2nd 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 acquiring an additional 188,888 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after acquiring an additional 2,193,769 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of McDonald’s by 8.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after acquiring an additional 354,196 shares during the last quarter. Capital World Investors increased its holdings in shares of McDonald’s by 39.7% during the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after acquiring an additional 1,012,534 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after acquiring an additional 2,311,721 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MCD shares. Jefferies Financial Group raised their target price on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. Barclays raised their target price on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday. Wedbush reaffirmed an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a report on Wednesday. Evercore ISI raised their target price on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Finally, The Goldman Sachs Group raised their target price on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Thirteen analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and a consensus target price of $318.22.

View Our Latest Analysis on MCD

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the transaction, the insider now owns 10,385 shares in the company, valued at approximately $3,036,366.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the transaction, the insider now owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. The trade was a 0.00 % 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, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the sale, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at $900,550. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock valued at $10,256,818 over the last ninety days. 0.23% of the stock is currently owned by insiders.

McDonald’s Price Performance

Shares of MCD traded down $8.97 during trading hours on Friday, hitting $292.61. 8,863,234 shares of the stock were exchanged, compared to its average volume of 3,475,984. The firm has a market capitalization of $210.88 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 4.13 and a beta of 0.73. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The business has a 50-day moving average of $297.78 and a 200-day moving average of $274.88.

McDonald’s (NYSE:MCD – Get Free Report) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period last year, the business posted $3.17 earnings per share. The firm’s quarterly revenue was down .1% on a year-over-year basis. As a group, analysts forecast that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.77 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.42%. McDonald’s’s dividend payout ratio is presently 60.10%.

McDonald’s Profile

(Free Report)

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.