Mirae Asset Global Investments Co. Ltd. Has $53.10 Million Stock Holdings in McDonald’s Co. (NYSE:MCD)

Mirae Asset Global Investments Co. Ltd. reduced its stake in McDonald’s Co. (NYSE:MCD) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 178,025 shares of the fast-food giant’s stock after selling 2,357 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in McDonald’s were worth $53,103,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank Julius Baer & Co. Ltd Zurich lifted its stake in McDonald’s by 105,490.7% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 457,071,431 shares of the fast-food giant’s stock valued at $136,394,686,000 after buying an additional 456,638,560 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in McDonald’s by 106,340.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,235,890 shares of the fast-food giant’s stock valued at $5,069,234,000 after buying an additional 19,217,818 shares during the period. Norges Bank acquired a new position in McDonald’s in the fourth quarter valued at approximately $2,341,360,000. Arrowstreet Capital Limited Partnership lifted its stake in McDonald’s by 1,189.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,191,692 shares of the fast-food giant’s stock valued at $541,962,000 after buying an additional 2,021,754 shares during the period. Finally, Barclays PLC lifted its stake in McDonald’s by 89.5% in the second quarter. Barclays PLC now owns 2,568,877 shares of the fast-food giant’s stock valued at $766,580,000 after buying an additional 1,213,230 shares during the period. 67.60% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Performance

Shares of MCD opened at $275.75 on Friday. The stock’s 50-day simple moving average is $264.08 and its 200 day simple moving average is $280.79. The stock has a market capitalization of $200.01 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 2.64 and a beta of 0.70. McDonald’s Co. has a 52-week low of $245.73 and a 52-week high of $299.35.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, October 30th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.19. The business had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.56 billion. McDonald’s had a negative return on equity of 157.19% and a net margin of 33.31%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.68 EPS. On average, research analysts forecast that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $1.67 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.52. This represents a $6.68 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, November 30th. McDonald’s’s dividend payout ratio is currently 53.52%.

Analysts Set New Price Targets

MCD has been the subject of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $315.00 price objective on shares of McDonald’s in a report on Tuesday, October 31st. JPMorgan Chase & Co. boosted their price objective on McDonald’s from $270.00 to $278.00 and gave the company an “overweight” rating in a report on Tuesday, October 31st. KeyCorp decreased their price objective on McDonald’s from $330.00 to $310.00 and set an “overweight” rating for the company in a report on Tuesday, October 17th. Wells Fargo & Company upgraded McDonald’s from an “equal weight” rating to an “overweight” rating and set a $310.00 price objective for the company in a report on Thursday, September 7th. Finally, Wedbush restated an “outperform” rating and set a $310.00 price objective on shares of McDonald’s in a report on Tuesday, October 31st. Four equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $316.66.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 4,487 shares of the company’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $256.61, for a total value of $1,151,409.07. Following the transaction, the insider now directly owns 9,534 shares in the company, valued at approximately $2,446,519.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 4,487 shares of the company’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $256.61, for a total value of $1,151,409.07. Following the transaction, the insider now directly owns 9,534 shares in the company, valued at approximately $2,446,519.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Heidi B. Capozzi sold 688 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $282.54, for a total value of $194,387.52. Following the completion of the transaction, the executive vice president now owns 20,019 shares in the company, valued at $5,656,168.26. The disclosure for this sale can be found here. Insiders have sold 21,443 shares of company stock worth $5,863,300 in the last ninety days. 0.27% of the stock is currently owned by insiders.

About McDonald’s

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.