Mirae Asset Global Investments Co. Ltd. Acquires 9,644 Shares of McDonald’s Co. (NYSE:MCD)

Mirae Asset Global Investments Co. Ltd. grew its holdings in McDonald’s Co. (NYSE:MCD) by 16.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 68,411 shares of the fast-food giant’s stock after purchasing an additional 9,644 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in McDonald’s were worth $19,252,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s in the 1st quarter valued at about $28,000. Kings Path Partners LLC bought a new position in McDonald’s during the 2nd quarter worth approximately $38,000. Keener Financial Planning LLC boosted its stake in McDonald’s by 32.3% during the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after acquiring an additional 43 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in McDonald’s during the 2nd quarter worth approximately $59,000. Finally, Redmont Wealth Advisors LLC bought a new position in McDonald’s during the 1st quarter worth approximately $69,000. Institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MCD shares. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. The Goldman Sachs Group lifted their price objective on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Barclays lifted their price target on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Citigroup lifted their price target on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Bank of America lifted their price target on shares of McDonald’s from $308.00 to $322.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Thirteen analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $318.22.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the sale, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at approximately $900,550. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,097 shares of company stock valued at $10,256,818 over the last ninety days. 0.23% of the stock is currently owned by company insiders.

McDonald’s Trading Down 3.0 %

Shares of MCD opened at $292.61 on Friday. The company has a market cap of $210.88 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 4.13 and a beta of 0.73. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The company’s fifty day simple moving average is $297.78 and its 200 day simple moving average is $274.91.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period last year, the firm earned $3.17 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, research analysts forecast that McDonald’s Co. will post 11.73 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is 60.10%.

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.