Meiji Yasuda Asset Management Co Ltd. Acquires 1,795 Shares of McDonald’s Co. (NYSE:MCD)

Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of McDonald’s Co. (NYSE:MCD) by 3.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,765 shares of the fast-food giant’s stock after buying an additional 1,795 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in McDonald’s were worth $12,682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Hantz Financial Services Inc. bought a new stake in McDonald’s during the second quarter valued at approximately $6,612,000. California State Teachers Retirement System increased its stake in McDonald’s by 1.4% in the fourth quarter. California State Teachers Retirement System now owns 1,180,928 shares of the fast-food giant’s stock valued at $350,157,000 after acquiring an additional 15,863 shares during the last quarter. Brevan Howard Capital Management LP raised its position in McDonald’s by 411.4% during the fourth quarter. Brevan Howard Capital Management LP now owns 7,497 shares of the fast-food giant’s stock valued at $2,223,000 after purchasing an additional 6,031 shares in the last quarter. SageView Advisory Group LLC boosted its holdings in shares of McDonald’s by 51.2% in the 4th quarter. SageView Advisory Group LLC now owns 19,032 shares of the fast-food giant’s stock worth $5,608,000 after purchasing an additional 6,447 shares in the last quarter. Finally, BNP Paribas purchased a new stake in McDonald’s in the first quarter worth approximately $7,898,000. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. JPMorgan Chase & Co. raised their price objective on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday. Wedbush reiterated an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a report on Monday, July 29th. Truist Financial dropped their target price on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group assumed coverage on McDonald’s in a research note on Thursday, June 13th. They issued a “neutral” rating and a $288.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $306.11.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $293.73 on Wednesday. The company has a 50-day simple moving average of $274.83 and a two-hundred day simple moving average of $270.53. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $302.39. The stock has a market capitalization of $211.69 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. McDonald’s’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.17 earnings per share. As a group, equities research analysts forecast that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $6.68 annualized dividend and a yield of 2.27%. McDonald’s’s payout ratio is 56.71%.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were 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 directly owns 1,560 shares of the company’s stock, valued at $387,285.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,291 shares of company stock valued at $1,689,073. 0.23% of the stock is owned by insiders.

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.