Passive Capital Management LLC. Acquires Shares of 758 McDonald’s Co. (NYSE:MCD)

Passive Capital Management LLC. purchased a new position in McDonald’s Co. (NYSE:MCD) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 758 shares of the fast-food giant’s stock, valued at approximately $231,000.

Several other hedge funds have also recently modified their holdings of MCD. International Assets Investment Management LLC raised 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 purchasing an additional 2,311,721 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in 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 valued at $244,174,000 after acquiring an additional 677,139 shares during the last quarter. Mondrian Investment Partners LTD purchased a new stake in McDonald’s during the second quarter valued at $110,321,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in McDonald’s during the third quarter valued at $121,254,000. Finally, Ameriprise Financial Inc. increased its position in 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. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Down 0.2 %

Shares of McDonald’s stock opened at $298.98 on Friday. The stock has a 50 day moving average of $299.43 and a 200 day moving average of $279.89. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The firm has a market cap of $214.26 billion, a PE ratio of 26.25, a PEG ratio of 3.92 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period in the prior year, the company earned $3.19 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current fiscal 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. The ex-dividend date is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.37%. McDonald’s’s dividend payout ratio is presently 62.16%.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $298.57, for a total transaction of $328,128.43. Following the sale, the insider now directly owns 11,484 shares in the company, valued at $3,428,777.88. This represents a 8.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the sale, the chief marketing officer now owns 2,905 shares in the company, valued at approximately $900,550. This trade represents a 44.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,099 shares of company stock valued at $10,273,786. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MCD. Truist Financial reduced their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Morgan Stanley upped their price objective on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Evercore ISI upped their price objective on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price target on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Thirteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $319.64.

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.