Resona Asset Management Co. Ltd. Acquires Shares of 247,130 McDonald’s Co. (NYSE:MCD)

Resona Asset Management Co. Ltd. bought a new position in shares of McDonald’s Co. (NYSE:MCD) during the 4th quarter, HoldingsChannel.com reports. The fund bought 247,130 shares of the fast-food giant’s stock, valued at approximately $71,778,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in McDonald’s by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant’s stock worth $20,341,391,000 after purchasing an additional 526,466 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of McDonald’s by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant’s stock worth $4,652,768,000 after buying an additional 157,458 shares during the last quarter. Wellington Management Group LLP increased its holdings in McDonald’s by 0.9% during the third quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock worth $4,592,892,000 after buying an additional 128,800 shares during the last quarter. Norges Bank bought a new stake in McDonald’s in the fourth quarter worth about $2,725,190,000. Finally, Bank of New York Mellon Corp boosted its stake in McDonald’s by 0.9% in the fourth quarter. Bank of New York Mellon Corp now owns 5,803,833 shares of the fast-food giant’s stock valued at $1,682,473,000 after acquiring an additional 52,195 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 300 shares of McDonald’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the transaction, the insider now owns 7,887 shares in the company, valued at $2,214,275.25. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tiffanie L. Boyd sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $309.27, for a total transaction of $309,270.00. Following the sale, the executive vice president now owns 5,564 shares of the company’s stock, valued at approximately $1,720,778.28. The trade was a 15.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,497 shares of company stock worth $8,461,400 in the last quarter. 0.23% of the stock is owned by insiders.

McDonald’s Price Performance

MCD stock opened at $299.68 on Friday. The firm has a 50 day simple moving average of $304.34 and a two-hundred day simple moving average of $298.72. The stock has a market cap of $214.11 billion, a PE ratio of 26.31, a P/E/G ratio of 3.10 and a beta of 0.62. McDonald’s Co. has a one year low of $243.53 and a one year high of $326.32.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. On average, research analysts expect that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $1.77 dividend. The ex-dividend date was Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a yield of 2.36%. McDonald’s’s payout ratio is 62.16%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MCD. Truist Financial lowered their price target on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Bank of America upped their price target on McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. BMO Capital Markets lifted their price objective on McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Piper Sandler dropped their price objective on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Finally, Loop Capital reiterated a “buy” rating and set a $342.00 target price on shares of McDonald’s in a research report on Friday, January 3rd. Nine investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $323.30.

About McDonald’s

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.