Resona Asset Management Co. Ltd. Makes New Investment in McDonald’s Co. (NYSE:MCD)

Resona Asset Management Co. Ltd. purchased a new position in shares of McDonald’s Co. (NYSE:MCD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 247,130 shares of the fast-food giant’s stock, valued at approximately $71,778,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in McDonald’s in the 4th quarter worth $2,725,190,000. Raymond James Financial Inc. acquired a new position in McDonald’s during the fourth quarter valued at approximately $703,074,000. Franklin Resources Inc. grew its stake in shares of McDonald’s by 24.4% in the fourth quarter. Franklin Resources Inc. now owns 4,054,387 shares of the fast-food giant’s stock valued at $1,175,326,000 after buying an additional 794,536 shares in the last quarter. Proficio Capital Partners LLC grew its position in shares of McDonald’s by 43,591.6% in the 4th quarter. Proficio Capital Partners LLC now owns 590,711 shares of the fast-food giant’s stock valued at $171,241,000 after acquiring an additional 589,359 shares during the period. Finally, Vanguard Group Inc. increased its position in McDonald’s by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant’s stock worth $20,341,391,000 after buying an additional 526,466 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Performance

NYSE:MCD opened at $299.68 on Friday. The firm’s fifty day moving average is $304.34 and its 200-day moving average is $298.72. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $326.32. The firm has a market cap of $214.11 billion, a P/E ratio of 26.31, a P/E/G ratio of 3.10 and a beta of 0.62.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. As a group, sell-side analysts anticipate that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $1.77 dividend. The ex-dividend date was Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a yield of 2.36%. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 300 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the completion of the sale, the insider now directly owns 7,887 shares of the company’s stock, valued at approximately $2,214,275.25. The trade was a 3.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the sale, the chief executive officer now directly owns 32,756 shares of the company’s stock, valued at approximately $10,155,997.80. This trade represents a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,497 shares of company stock worth $8,461,400 over the last quarter. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MCD has been the topic of several research reports. Robert W. Baird upped their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Truist Financial dropped their target price on McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. TD Securities reiterated a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research note on Monday, February 10th. Bank of America upped their price objective on shares of McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 11th. Finally, Piper Sandler reduced their target price on McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Nine research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $323.30.

About McDonald’s

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.