OVERSEA CHINESE BANKING Corp Ltd Has $8 Million Holdings in McDonald’s Co. (NYSE:MCD)

OVERSEA CHINESE BANKING Corp Ltd grew its position in McDonald’s Co. (NYSE:MCD) by 58.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,314 shares of the fast-food giant’s stock after purchasing an additional 9,688 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in McDonald’s were worth $8,002,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Legal & General Group Plc increased its position in McDonald’s by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after purchasing an additional 188,888 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after acquiring an additional 2,193,769 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of McDonald’s by 8.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after acquiring an additional 354,196 shares during the last quarter. Capital World Investors increased its holdings in shares of McDonald’s by 39.7% during the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after acquiring an additional 1,012,534 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after acquiring an additional 2,311,721 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Up 0.9 %

Shares of NYSE MCD opened at $301.53 on Tuesday. The business’s 50 day moving average price is $299.34 and its two-hundred day moving average price is $276.82. The company has a market cap of $216.30 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 3.98 and a beta of 0.74. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the prior year, the business earned $3.19 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, research analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $1.77 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.35%. McDonald’s’s dividend payout ratio is presently 58.65%.

Insider Activity

In other news, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the transaction, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at approximately $900,550. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction that occurred on 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,596 shares of company stock valued at $10,698,289. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MCD shares. The Goldman Sachs Group increased their price objective on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Morgan Stanley increased their target price on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft decreased their target price on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their target price on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $319.46.

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.