Pacer Advisors Inc. Boosts Stock Position in McDonald’s Co. (NYSE:MCD)

Pacer Advisors Inc. lifted its holdings in McDonald’s Co. (NYSE:MCD) by 8.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 72,369 shares of the fast-food giant’s stock after purchasing an additional 5,638 shares during the quarter. Pacer Advisors Inc.’s holdings in McDonald’s were worth $22,037,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Kennebec Savings Bank purchased a new position in McDonald’s during the third quarter worth $1,394,000. Hantz Financial Services Inc. purchased a new position in McDonald’s during the second quarter worth $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in McDonald’s by 58.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after buying an additional 51,210 shares during the period. U.S. Capital Wealth Advisors LLC boosted its stake in McDonald’s by 6.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after buying an additional 2,997 shares during the period. Finally, Quintet Private Bank Europe S.A. boosted its stake in McDonald’s by 17.1% during the third quarter. Quintet Private Bank Europe S.A. now owns 49,318 shares of the fast-food giant’s stock worth $15,018,000 after buying an additional 7,200 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MCD has been the subject of several recent analyst reports. Truist Financial dropped their price objective on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Loop Capital reiterated a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Morgan Stanley lifted their target price on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group lifted their target price on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Finally, Barclays lifted their target price on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $319.46.

Insider Transactions at McDonald’s

In related news, CFO Ian Frederick Borden sold 5,939 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.04, for a total value of $1,781,937.56. Following the sale, the chief financial officer now owns 20,403 shares in the company, valued at $6,121,716.12. This represents a 22.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 19.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,498 shares of company stock worth $10,381,296. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $290.30 on Friday. The company has a market capitalization of $208.03 billion, a PE ratio of 25.49, a P/E/G ratio of 3.84 and a beta of 0.74. The company has a 50-day simple moving average of $299.85 and a two-hundred day simple moving average of $278.06. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the firm earned $3.19 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, equities analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.44%. McDonald’s’s payout ratio is presently 58.65%.

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.