McDonald’s Corporation (NYSE:MCD) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in McDonald’s Corporation (NYSE:MCD) by 2,483.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,263 shares of the fast-food giant’s stock after acquiring an additional 65,621 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in McDonald’s were worth $21,323,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. acquired a new position in McDonald’s during the fourth quarter worth $25,000. Abound Financial LLC acquired a new position in McDonald’s during the first quarter worth $30,000. Pinney & Scofield Inc. acquired a new position in McDonald’s during the fourth quarter worth $29,000. Redmont Wealth Advisors LLC acquired a new position in McDonald’s during the first quarter worth $31,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in McDonald’s during the first quarter worth $31,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider owned 9,283 shares in the company, valued at $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the sale, the executive vice president owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. The trade was a 22.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,280 shares of company stock worth $2,215,178. Company insiders own 0.25% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD opened at $305.62 on Friday. McDonald’s Corporation has a fifty-two week low of $265.33 and a fifty-two week high of $326.32. The company has a market capitalization of $218.09 billion, a price-to-earnings ratio of 26.19, a price-to-earnings-growth ratio of 3.19 and a beta of 0.52. The firm has a 50-day simple moving average of $298.57 and a 200-day simple moving average of $304.49.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the prior year, the firm earned $2.97 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $1.77 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. McDonald’s’s dividend payout ratio is 60.67%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MCD shares. TD Cowen upped their price target on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday. Argus lowered McDonald’s from a “buy” rating to a “hold” rating in a research report on Friday, June 13th. JPMorgan Chase & Co. upped their price objective on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday. BMO Capital Markets reaffirmed an “outperform” rating and set a $350.00 price objective (up previously from $345.00) on shares of McDonald’s in a research report on Thursday. Finally, Northcoast Research lowered McDonald’s from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $326.87.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.