McDonald’s Co. (NYSE:MCD) Shares Purchased by abrdn plc

abrdn plc increased its stake in McDonald’s Co. (NYSE:MCD) by 5.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 287,051 shares of the fast-food giant’s stock after acquiring an additional 15,695 shares during the quarter. abrdn plc’s holdings in McDonald’s were worth $87,311,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its position in shares of McDonald’s by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after purchasing an additional 188,888 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of McDonald’s by 66.9% during the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after acquiring an additional 2,193,769 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of McDonald’s by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after acquiring an additional 354,196 shares during the last quarter. Capital World Investors lifted its position in shares of McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after acquiring an additional 1,012,534 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after acquiring an additional 2,311,721 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Down 0.6 %

NYSE:MCD opened at $295.03 on Wednesday. The company has a market cap of $211.64 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 4.13 and a beta of 0.73. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The company has a fifty day simple moving average of $298.15 and a two-hundred day simple moving average of $275.35.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.17 EPS. On average, analysts expect that McDonald’s Co. will post 11.73 EPS for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.40%. McDonald’s’s dividend payout ratio is currently 61.94%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction 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 transaction, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction 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 transaction, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,097 shares of company stock worth $10,256,818. 0.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Tigress Financial upped their target price on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $320.00 to $290.00 in a report on Wednesday, October 23rd. Citigroup boosted their target price on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Finally, Argus raised McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Thirteen analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $318.22.

McDonald’s Company 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.