Engineers Gate Manager LP Boosts Stock Holdings in McDonald’s Corporation $MCD

Engineers Gate Manager LP increased its position in shares of McDonald’s Corporation (NYSE:MCD) by 9,072.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 94,658 shares of the fast-food giant’s stock after buying an additional 93,626 shares during the period. Engineers Gate Manager LP’s holdings in McDonald’s were worth $27,656,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCD. Norges Bank acquired a new position in shares of McDonald’s in the second quarter worth about $2,780,712,000. Laurel Wealth Advisors LLC grew its position in shares of McDonald’s by 29,382.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock valued at $1,676,339,000 after acquiring an additional 5,718,087 shares during the period. Soundwatch Capital LLC purchased a new position in shares of McDonald’s in the 2nd quarter valued at about $1,412,069,000. Viking Global Investors LP increased its stake in shares of McDonald’s by 171.7% in the 2nd quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock valued at $913,157,000 after purchasing an additional 1,974,998 shares in the last quarter. Finally, Amundi raised its holdings in McDonald’s by 96.0% in the 2nd quarter. Amundi now owns 4,032,676 shares of the fast-food giant’s stock worth $1,188,147,000 after purchasing an additional 1,974,751 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Manuel Jm Steijaert sold 13,134 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the transaction, the executive vice president directly owned 4,606 shares in the company, valued at $1,383,734.52. The trade was a 74.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 3,195 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $305.82, for a total value of $977,094.90. Following the completion of the sale, the insider owned 6,088 shares of the company’s stock, valued at $1,861,832.16. This trade represents a 34.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 40,030 shares of company stock valued at $12,240,570 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

McDonald’s Stock Performance

Shares of MCD stock opened at $316.84 on Friday. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The stock’s fifty day moving average is $304.98 and its two-hundred day moving average is $303.78. The firm has a market capitalization of $225.64 billion, a P/E ratio of 27.03, a PEG ratio of 3.44 and a beta of 0.52.

McDonald’s (NYSE:MCD) last issued its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.10 billion. McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. McDonald’s’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $3.23 earnings per share. On average, equities analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $1.86 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a yield of 2.3%. McDonald’s’s dividend payout ratio is 63.48%.

Analysts Set New Price Targets

MCD has been the topic of several research analyst reports. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a report on Friday, October 24th. Morgan Stanley set a $335.00 target price on McDonald’s in a research report on Friday, October 17th. Truist Financial dropped their price target on shares of McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Mizuho upgraded shares of McDonald’s to a “hold” rating in a research report on Tuesday, October 28th. Finally, Barclays decreased their price objective on shares of McDonald’s from $362.00 to $358.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Eleven investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $324.57.

McDonald’s Company Profile

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.