Investment Management Corp of Ontario Purchases 7,900 Shares of McDonald’s Co. (NYSE:MCD)

Investment Management Corp of Ontario lifted its position in McDonald’s Co. (NYSE:MCD) by 49.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,903 shares of the fast-food giant’s stock after purchasing an additional 7,900 shares during the quarter. Investment Management Corp of Ontario’s holdings in McDonald’s were worth $7,279,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. CVA Family Office LLC increased its holdings in McDonald’s by 4.4% during the second quarter. CVA Family Office LLC now owns 1,619 shares of the fast-food giant’s stock valued at $413,000 after buying an additional 68 shares during the last quarter. CWM LLC increased its position in shares of McDonald’s by 7.5% in the 2nd quarter. CWM LLC now owns 74,266 shares of the fast-food giant’s stock valued at $18,926,000 after acquiring an additional 5,173 shares during the period. First Affirmative Financial Network boosted its holdings in McDonald’s by 20.0% during the second quarter. First Affirmative Financial Network now owns 990 shares of the fast-food giant’s stock worth $252,000 after buying an additional 165 shares in the last quarter. M. Kraus & Co raised its stake in McDonald’s by 2.3% in the 2nd quarter. M. Kraus & Co now owns 2,247 shares of the fast-food giant’s stock valued at $573,000 after purchasing an additional 50 shares during the last quarter. Finally, Aprio Wealth Management LLC grew its position in McDonald’s by 3.6% in the second quarter. Aprio Wealth Management LLC now owns 1,998 shares of the fast-food giant’s stock worth $509,000 after acquiring an additional 69 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the topic of several analyst reports. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Barclays upped their target price on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Tigress Financial upped their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Baird R W cut McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Thirteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.64.

Insider Activity at McDonald’s

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of 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 19.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $298.57, for a total value of $328,128.43. Following the transaction, the insider now directly owns 11,484 shares of the company’s stock, valued at $3,428,777.88. The trade was a 8.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,099 shares of company stock valued at $10,273,786 in the last ninety days. Insiders own 0.23% of the company’s stock.

McDonald’s Trading Down 0.0 %

Shares of NYSE MCD opened at $292.35 on Tuesday. The business’s fifty day simple moving average is $299.96 and its 200-day simple moving average is $279.04. The stock has a market cap of $209.50 billion, a P/E ratio of 25.68, a PEG ratio of 3.94 and a beta of 0.73. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter last year, the firm earned $3.19 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend 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 yield of 2.42%. McDonald’s’s dividend payout ratio (DPR) 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.