Canada Pension Plan Investment Board Boosts Stock Holdings in McDonald’s Co. (NYSE:MCD)

Canada Pension Plan Investment Board increased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 684,471 shares of the fast-food giant’s stock after purchasing an additional 34,053 shares during the quarter. Canada Pension Plan Investment Board owned 0.09% of McDonald’s worth $174,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of MCD. Dixon Mitchell Investment Counsel Inc. bought a new position in McDonald’s during the first quarter valued at approximately $28,000. Clear Investment Research LLC purchased a new stake in McDonald’s during the fourth quarter valued at $38,000. Kings Path Partners LLC bought a new position in shares of McDonald’s in the 2nd quarter worth approximately $38,000. Accent Capital Management LLC purchased a new position in shares of McDonald’s in the fourth quarter worth approximately $44,000. Finally, Transcendent Capital Group LLC bought a new stake in McDonald’s during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MCD shares. Bank of America cut their price objective on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. BMO Capital Markets cut their price objective on McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Barclays dropped their price target on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Finally, Loop Capital restated a “buy” rating and set a $342.00 target price on shares of McDonald’s in a research note on Tuesday, September 10th. Eleven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $306.11.

McDonald’s Stock Performance

MCD opened at $296.77 on Friday. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39. The stock has a market cap of $213.88 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 3.88 and a beta of 0.72. The stock’s 50 day moving average price is $277.30 and its 200-day moving average price is $270.88.

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

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Insider Activity

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,193 shares of company stock valued at $1,403,593. Corporate insiders own 0.23% of the company’s stock.

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.