Sompo Asset Management Co. Ltd. Purchases 200 Shares of McDonald’s Co. (NYSE:MCD)

Sompo Asset Management Co. Ltd. increased its position in McDonald’s Co. (NYSE:MCD) by 10.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,090 shares of the fast-food giant’s stock after buying an additional 200 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in McDonald’s were worth $636,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MCD. Kings Path Partners LLC purchased a new position in shares of McDonald’s in the second quarter valued at about $38,000. Hara Capital LLC bought a new stake in shares of McDonald’s in the third quarter worth about $44,000. Peterson Financial Group Inc. purchased a new position in McDonald’s during the 3rd quarter valued at about $58,000. Opal Wealth Advisors LLC bought a new position in McDonald’s during the 2nd quarter valued at approximately $59,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in McDonald’s in the 2nd quarter worth approximately $65,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Performance

MCD opened at $290.28 on Friday. The company’s 50-day simple moving average is $299.85 and its two-hundred day simple moving average is $278.13. The stock has a market capitalization of $208.02 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.84 and a beta of 0.74. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90.

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, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. 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 firm earned $3.19 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts forecast that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.44%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is presently 62.16%.

Analysts Set New Price Targets

MCD has been the subject of a number of recent analyst reports. Barclays upped their target price 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 upped their price objective on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. BMO Capital Markets boosted their price target on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $290.00 to $285.00 in a report on Wednesday, October 23rd. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

Insider Activity at McDonald’s

In related news, 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 transaction of $727,260.00. Following the completion of the sale, the chief marketing officer now directly owns 2,905 shares in the company, valued at approximately $900,550. The trade was a 44.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This represents a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,498 shares of company stock worth $10,381,296. 0.23% of the stock is owned by insiders.

About McDonald’s

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.