BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Stake in McDonald’s Corporation $MCD

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 17.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 112,655 shares of the fast-food giant’s stock after selling 24,396 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in McDonald’s were worth $32,914,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Decker Retirement Planning Inc. increased its stake in shares of McDonald’s by 142.9% in the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after acquiring an additional 50 shares during the period. Legacy Investment Solutions LLC purchased a new stake in McDonald’s in the second quarter valued at $25,000. HFM Investment Advisors LLC acquired a new stake in McDonald’s during the 1st quarter worth about $26,000. Nova Wealth Management Inc. purchased a new position in shares of McDonald’s during the 1st quarter valued at about $26,000. Finally, GFG Capital LLC purchased a new position in shares of McDonald’s during the 2nd quarter valued at about $29,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Up 2.3%

MCD opened at $316.84 on Friday. The firm’s fifty day simple moving average is $304.98 and its two-hundred day simple moving average is $303.78. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The company has a market cap of $225.64 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 3.44 and a beta of 0.52.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.11). The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.10 billion. McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $3.23 EPS. On average, research analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.3%. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. McDonald’s’s dividend payout ratio (DPR) is 63.48%.

Wall Street Analyst Weigh In

Several analysts recently commented on MCD shares. Morgan Stanley set a $335.00 target price on McDonald’s in a report on Friday, October 17th. Robert W. Baird lifted their target price on shares of McDonald’s from $322.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a report on Friday, October 24th. Royal Bank Of Canada initiated coverage on shares of McDonald’s in a report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price objective for the company. Finally, Mizuho upgraded McDonald’s to a “hold” rating in a research report on Tuesday, October 28th. Eleven research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $324.57.

Insider Transactions at McDonald’s

In related news, CFO Ian Frederick Borden sold 17,134 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the completion of the sale, the chief financial officer directly owned 26,353 shares in the company, valued at approximately $8,169,430. The trade was a 39.40% 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, insider Joseph M. Erlinger sold 3,195 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $305.82, for a total value of $977,094.90. Following the completion of the transaction, the insider directly owned 6,088 shares of the company’s stock, valued at approximately $1,861,832.16. This represents a 34.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,030 shares of company stock valued at $12,240,570 over the last ninety days. Insiders own 0.25% of the company’s stock.

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.