E Fund Management Co. Ltd. Acquires 476 Shares of McDonald’s Co. (NYSE:MCD)

E Fund Management Co. Ltd. lifted its holdings in McDonald’s Co. (NYSE:MCD) by 11.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,483 shares of the fast-food giant’s stock after buying an additional 476 shares during the quarter. E Fund Management Co. Ltd.’s holdings in McDonald’s were worth $1,142,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MCD. Dixon Mitchell Investment Counsel Inc. acquired a new stake in McDonald’s in the first quarter worth about $28,000. Clear Investment Research LLC acquired a new stake in McDonald’s in the fourth quarter worth about $38,000. Kings Path Partners LLC acquired a new stake in McDonald’s in the second quarter worth about $38,000. Accent Capital Management LLC acquired a new stake in McDonald’s in the fourth quarter worth about $44,000. Finally, Transcendent Capital Group LLC acquired a new stake in McDonald’s in the fourth quarter worth about $45,000. 70.29% of the stock is owned by institutional investors.

McDonald’s Stock Down 1.0 %

Shares of McDonald’s stock opened at $293.73 on Wednesday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $302.39. The stock has a market cap of $211.69 billion, a P/E ratio of 24.93, a P/E/G ratio of 3.88 and a beta of 0.72. The business’s 50 day moving average is $274.83 and its 200-day moving average is $270.53.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data 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). 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 quarter in the prior year, the company earned $3.17 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts expect that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Tuesday, September 3rd. McDonald’s’s payout ratio is presently 56.71%.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,291 shares of company stock valued at $1,689,073. 0.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MCD shares. KeyCorp lowered their price objective on McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Jefferies Financial Group boosted their target price on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Guggenheim boosted their target price on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. BMO Capital Markets decreased their target price on McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. boosted their target price on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $306.11.

About McDonald’s

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.