McDonald’s Corporation $MCD Shares Purchased by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in McDonald’s Corporation (NYSE:MCD) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,960 shares of the fast-food giant’s stock after buying an additional 1,850 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in McDonald’s were worth $8,753,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Nova Wealth Management Inc. acquired a new position in shares of McDonald’s in the 1st quarter valued at $26,000. HFM Investment Advisors LLC purchased a new stake in McDonald’s in the first quarter valued at $26,000. Abound Financial LLC acquired a new position in McDonald’s in the first quarter valued at $30,000. GFG Capital LLC acquired a new position in McDonald’s in the second quarter valued at $29,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of McDonald’s during the first quarter worth about $31,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MCD shares. Evercore ISI boosted their target price on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Citigroup reduced their price objective on McDonald’s from $381.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, October 21st. Mizuho set a $300.00 price objective on McDonald’s in a report on Monday. TD Cowen increased their price target on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, August 6th. Finally, Melius started coverage on shares of McDonald’s in a research report on Monday, July 14th. They set a “sell” rating and a $250.00 price objective on the stock. Eleven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $323.43.

Insider Activity

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the transaction, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. This represents a 90.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the transaction, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,463 shares of company stock worth $1,692,186 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

McDonald’s Trading Up 1.4%

Shares of MCD stock opened at $309.97 on Tuesday. The stock has a 50 day simple moving average of $306.52 and a 200-day simple moving average of $305.71. The company has a market cap of $221.19 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the previous year, the business earned $2.97 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $1.86 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. McDonald’s’s dividend payout ratio is currently 60.67%.

McDonald’s Profile

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.