Los Angeles Capital Management LLC Reduces Position in McDonald’s Corporation $MCD

Los Angeles Capital Management LLC decreased its stake in shares of McDonald’s Corporation (NYSE:MCD) by 20.7% during the second quarter, HoldingsChannel reports. The firm owned 4,728 shares of the fast-food giant’s stock after selling 1,232 shares during the quarter. Los Angeles Capital Management LLC’s holdings in McDonald’s were worth $1,381,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in McDonald’s by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant’s stock worth $21,993,689,000 after acquiring an additional 239,753 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of McDonald’s by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after purchasing an additional 1,344,954 shares during the period. Northern Trust Corp raised its stake in shares of McDonald’s by 1.1% in the first quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant’s stock worth $2,800,447,000 after purchasing an additional 97,966 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of McDonald’s by 2.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant’s stock worth $1,606,354,000 after purchasing an additional 123,454 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of McDonald’s by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after purchasing an additional 815,768 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $306.63 on Thursday. The company has a market capitalization of $218.37 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50. The company’s fifty day moving average price is $303.72 and its 200 day moving average price is $304.76. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same quarter last year, the company posted $3.23 EPS. The company’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $1.86 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, December 1st. McDonald’s’s dividend payout ratio (DPR) is currently 63.48%.

Analysts Set New Price Targets

Several brokerages recently weighed in on MCD. Barclays cut their price target on shares of McDonald’s from $362.00 to $358.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. TD Cowen increased their price objective on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, August 6th. Bank of America reduced their target price on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a report on Friday, July 18th. Citigroup lowered their price target on shares of McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, October 21st. Finally, Truist Financial reduced their price objective on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $323.91.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the sale, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Manuel Jm Steijaert sold 13,134 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total value of $3,945,716.28. Following the transaction, the executive vice president directly owned 4,606 shares of the company’s stock, valued at approximately $1,383,734.52. The trade was a 74.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 15,134 shares of company stock valued at $4,570,716. Company insiders own 0.25% of the company’s stock.

About McDonald’s

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.