BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $35.19 Million Position in McDonald’s Co. (NYSE:MCD)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of McDonald’s Co. (NYSE:MCD) by 58.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,102 shares of the fast-food giant’s stock after purchasing an additional 51,210 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in McDonald’s were worth $35,194,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in McDonald’s during the 1st quarter worth $28,000. Clear Investment Research LLC bought a new stake in McDonald’s during the 4th quarter valued at approximately $38,000. Kings Path Partners LLC bought a new position in McDonald’s in the 2nd quarter worth approximately $38,000. Accent Capital Management LLC acquired a new position in shares of McDonald’s during the fourth quarter worth approximately $44,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of McDonald’s in the fourth quarter valued at approximately $45,000. Institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,193 shares of company stock valued at $1,403,593. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

MCD opened at $299.06 on Tuesday. The company’s 50 day simple moving average is $278.25 and its 200-day simple moving average is $270.62. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39. The stock has a market capitalization of $215.53 billion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the business posted $3.17 earnings per share. As a group, analysts anticipate that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $6.68 annualized dividend and a yield of 2.23%. McDonald’s’s dividend payout ratio is currently 56.71%.

Wall Street Analyst Weigh In

Several research firms recently commented on MCD. Deutsche Bank Aktiengesellschaft cut their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Jefferies Financial Group increased their target price on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, September 9th. TD Cowen reaffirmed a “hold” rating and issued a $280.00 price target on shares of McDonald’s in a report on Monday. The Goldman Sachs Group began coverage on McDonald’s in a report on Thursday, June 13th. They set a “neutral” rating and a $288.00 price objective on the stock. Finally, Truist Financial cut their target price on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $306.11.

About McDonald’s

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.