Asahi Life Asset Management CO. LTD. Has $2.72 Million Stake in McDonald’s Corporation $MCD

Asahi Life Asset Management CO. LTD. boosted its stake in McDonald’s Corporation (NYSE:MCD) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,312 shares of the fast-food giant’s stock after buying an additional 434 shares during the quarter. McDonald’s makes up about 1.6% of Asahi Life Asset Management CO. LTD.’s investment portfolio, making the stock its 17th largest position. Asahi Life Asset Management CO. LTD.’s holdings in McDonald’s were worth $2,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Nova Wealth Management Inc. acquired a new stake in McDonald’s in the 1st quarter valued at $26,000. HFM Investment Advisors LLC acquired a new position in McDonald’s in the first quarter worth $26,000. GFG Capital LLC acquired a new position in McDonald’s in the second quarter worth $29,000. Financial Gravity Asset Management Inc. acquired a new position in McDonald’s in the first quarter worth $31,000. Finally, 1248 Management LLC acquired a new position in McDonald’s in the first quarter worth $33,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analysts Set New Price Targets

MCD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. TD Cowen boosted their price objective on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, August 6th. Stifel Nicolaus boosted their price objective on McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Friday, August 22nd. Melius initiated coverage on McDonald’s in a research note on Monday, July 14th. They issued a “sell” rating and a $250.00 price objective on the stock. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of McDonald’s in a research note on Friday, October 31st. Eleven analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $323.43.

McDonald’s Stock Up 1.9%

MCD stock opened at $305.01 on Thursday. The company has a market cap of $217.66 billion, a P/E ratio of 26.14, a PEG ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The business has a fifty day moving average of $304.94 and a 200-day moving average of $305.25.

McDonald’s (NYSE:MCD) last released its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The firm had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.10 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.23 EPS. As a group, equities research analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $1.86 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, December 1st. McDonald’s’s dividend payout ratio is currently 63.75%.

Insider Transactions at McDonald’s

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer owned 6,858 shares in the company, valued at approximately $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares of the company’s stock, valued at $30,690. This represents a 90.99% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.25% of the company’s stock.

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.