McDonald’s Co. (NYSE:MCD) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lowered its stake in shares of McDonald’s Co. (NYSE:MCD) by 8.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,403 shares of the fast-food giant’s stock after selling 10,871 shares during the quarter. McDonald’s comprises approximately 0.7% of Dai ichi Life Insurance Company Ltd’s investment portfolio, making the stock its 29th largest holding. Dai ichi Life Insurance Company Ltd’s holdings in McDonald’s were worth $28,645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCD. Vanguard Group Inc. grew its holdings in shares of McDonald’s by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock valued at $20,473,811,000 after buying an additional 599,745 shares during the last quarter. Norges Bank purchased a new stake in McDonald’s during the 4th quarter valued at about $2,684,899,000. Price T Rowe Associates Inc. MD increased its holdings in shares of McDonald’s by 15.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after purchasing an additional 987,099 shares during the period. Gallagher Fiduciary Advisors LLC raised its stake in shares of McDonald’s by 141,160.9% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after purchasing an additional 5,609,736 shares during the last quarter. Finally, Capital Research Global Investors lifted 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 worth $1,542,550,000 after purchasing an additional 2,193,769 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

Shares of MCD opened at $296.55 on Friday. The stock has a 50 day moving average price of $272.89 and a 200 day moving average price of $270.80. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39. The stock has a market capitalization of $213.72 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion for 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 quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.17 EPS. On average, analysts predict that McDonald’s Co. will post 11.67 earnings per share for the current year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Analysts Set New Price Targets

MCD has been the subject of a number of recent research reports. BMO Capital Markets reduced their price target on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. The Goldman Sachs Group began coverage on shares of McDonald’s in a research report on Thursday, June 13th. They set a “neutral” rating and a $288.00 target price for the company. TD Cowen downgraded McDonald’s from a “buy” rating to a “hold” rating and cut their price target for the stock from $285.00 to $280.00 in a research report on Wednesday, July 31st. Bank of America lowered their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Finally, Citigroup lifted their price target on McDonald’s from $275.00 to $301.00 and gave the company a “neutral” rating in a research report on Friday. Eleven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average price target of $305.37.

Insider Transactions at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was 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 $387,285.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated 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 $387,285.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the transaction, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The disclosure for this sale can be found here. Insiders have sold a total of 6,291 shares of company stock worth $1,689,073 in the last ninety days. Insiders own 0.23% of the company’s stock.

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.