Sumitomo Life Insurance Co. Lowers Stake in McDonald’s Corporation $MCD

Sumitomo Life Insurance Co. reduced its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 5.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,055 shares of the fast-food giant’s stock after selling 564 shares during the period. Sumitomo Life Insurance Co.’s holdings in McDonald’s were worth $2,646,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in McDonald’s by 0.3% during the first quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant’s stock worth $21,993,689,000 after purchasing an additional 239,753 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in McDonald’s by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after purchasing an additional 1,344,954 shares during the period. Northern Trust Corp raised its stake in shares of McDonald’s by 1.1% during the 1st quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant’s stock worth $2,800,447,000 after buying an additional 97,966 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of McDonald’s by 2.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant’s stock valued at $1,606,354,000 after buying an additional 123,454 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of McDonald’s by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after buying an additional 815,768 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on MCD. Wells Fargo & Company cut their price objective on McDonald’s from $350.00 to $340.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Barclays raised their price objective on shares of McDonald’s from $360.00 to $362.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. TD Cowen boosted their price objective on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a report on Friday. Finally, Truist Financial decreased their price target on McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $323.43.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the transaction, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. This trade represents a 90.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the transaction, the chief marketing officer owned 6,858 shares of the company’s stock, valued at $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 4,487 shares of company stock worth $1,395,970. 0.25% of the stock is owned by corporate insiders.

McDonald’s Trading Down 1.3%

NYSE:MCD opened at $298.44 on Friday. The firm has a 50-day moving average price of $305.70 and a two-hundred day moving average price of $305.46. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The company has a market capitalization of $212.97 billion, a P/E ratio of 25.57, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period last year, the firm posted $2.97 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts predict 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 issued a dividend of $1.86 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. This represents a $7.44 annualized dividend and a yield of 2.5%. McDonald’s’s payout ratio is 63.75%.

McDonald’s 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.