iA Global Asset Management Inc. Invests $729,000 in McDonald’s Co. (NYSE:MCD)

iA Global Asset Management Inc. bought a new position in shares of McDonald’s Co. (NYSE:MCD) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,584 shares of the fast-food giant’s stock, valued at approximately $729,000.

Other institutional investors have also made changes to their positions in the company. Concentric Wealth Management LLC raised its stake in McDonald’s by 1.4% in the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock worth $756,000 after acquiring an additional 35 shares during the last quarter. Mechanics Financial Corp grew its position in shares of McDonald’s by 0.7% during the 4th quarter. Mechanics Financial Corp now owns 5,331 shares of the fast-food giant’s stock valued at $1,581,000 after acquiring an additional 36 shares during the period. FinTrust Capital Advisors LLC lifted its stake in McDonald’s by 2.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock valued at $376,000 after buying an additional 36 shares in the last quarter. 9258 Wealth Management LLC lifted its stake in McDonald’s by 1.3% in the 1st quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after buying an additional 37 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC lifted its stake in McDonald’s by 30.9% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 161 shares of the fast-food giant’s stock valued at $48,000 after buying an additional 38 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Performance

NYSE MCD traded up $3.35 during trading hours on Thursday, reaching $268.75. 4,879,650 shares of the company’s stock were exchanged, compared to its average volume of 3,544,535. The company has a market capitalization of $193.68 billion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of 3.13 and a beta of 0.71. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39. The company’s 50-day moving average is $255.32 and its two-hundred day moving average is $273.05.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. McDonald’s’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.17 earnings per share. Research analysts predict that McDonald’s Co. will post 11.87 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.49%. McDonald’s’s payout ratio is currently 56.71%.

Insider Activity

In other McDonald’s news, EVP Jonathan Banner sold 800 shares of McDonald’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, valued at $5,225.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the sale, the executive vice president now directly owns 19 shares in the company, valued at $5,225.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total value of $291,377.87. Following the transaction, the insider now directly owns 15,878 shares in the company, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,594 shares of company stock worth $1,454,507. 0.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Truist Financial reduced their price target on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday. The Goldman Sachs Group assumed coverage on shares of McDonald’s in a report on Thursday, June 13th. They issued a “neutral” rating and a $288.00 target price for the company. Bank of America lowered their target price on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research report on Tuesday. Morgan Stanley lowered their price target on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Finally, Evercore ISI cut their price target on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. Eleven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $302.64.

McDonald’s Profile

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.