McDonald’s Co. (NYSE:MCD) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC grew its position in McDonald’s Co. (NYSE:MCD) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,916,980 shares of the fast-food giant’s stock after purchasing an additional 220,365 shares during the period. Geode Capital Management LLC owned approximately 2.22% of McDonald’s worth $4,833,510,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after purchasing an additional 2,311,721 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of McDonald’s by 542.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock worth $244,174,000 after purchasing an additional 677,139 shares during the period. Mondrian Investment Partners LTD purchased a new stake in McDonald’s during the second quarter valued at about $110,321,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of McDonald’s in the 3rd quarter valued at approximately $121,254,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of McDonald’s by 8.0% in 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 purchasing an additional 354,196 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Activity

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. The trade was a 49.00 % 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 hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction dated Monday, September 23rd. The stock was 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 directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 19.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,099 shares of company stock worth $10,273,786. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

McDonald’s stock opened at $301.47 on Tuesday. The business’s 50-day simple moving average is $299.37 and its 200-day simple moving average is $280.30. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The firm has a market capitalization of $216.04 billion, a PE ratio of 26.47, a PEG ratio of 3.98 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.19 earnings per share. Research analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.35%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is currently 62.16%.

Analysts Set New Price Targets

MCD has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price target on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. BMO Capital Markets upped their target price on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wedbush restated an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a report on Wednesday, October 23rd. Evercore ISI increased their target price on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Finally, Truist Financial lowered their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $319.64.

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.