Sumitomo Mitsui Trust Group Inc. Purchases 22,780 Shares of McDonald’s Co. (NYSE:MCD)

Sumitomo Mitsui Trust Group Inc. grew its position in shares of McDonald’s Co. (NYSE:MCD) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,015,441 shares of the fast-food giant’s stock after purchasing an additional 22,780 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of McDonald’s worth $613,722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Kings Path Partners LLC bought a new position in shares of McDonald’s during the 2nd quarter valued at $38,000. Hara Capital LLC purchased a new position in shares of McDonald’s in the third quarter worth about $44,000. Opal Wealth Advisors LLC bought a new position in McDonald’s during the 2nd quarter worth approximately $59,000. Bbjs Financial Advisors LLC bought a new position in shares of McDonald’s in the second quarter worth approximately $65,000. Finally, Macroview Investment Management LLC raised its holdings in McDonald’s by 433.3% during the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after buying an additional 208 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Up 0.9 %

MCD stock opened at $301.53 on Tuesday. The company has a fifty day simple moving average of $299.34 and a two-hundred day simple moving average of $276.82. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The firm has a market capitalization of $216.30 billion, a P/E ratio of 26.47, a price-to-earnings-growth ratio of 3.98 and a beta of 0.74.

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

McDonald’s Increases Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on MCD. Barclays boosted their price target on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group increased their price objective on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. BMO Capital Markets boosted their target price on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Finally, Wedbush reaffirmed an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research note on Wednesday, October 23rd. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average target price of $319.46.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $298.57, for a total transaction of $328,128.43. Following the completion of the transaction, the insider now owns 11,484 shares in the company, valued at approximately $3,428,777.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,596 shares of company stock worth $10,698,289 over the last quarter. Insiders own 0.23% of the company’s stock.

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.