Caitong International Asset Management Co. Ltd Purchases 403 Shares of McDonald’s Corporation $MCD

Caitong International Asset Management Co. Ltd boosted its position in shares of McDonald’s Corporation (NYSE:MCD) by 1,439.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 431 shares of the fast-food giant’s stock after buying an additional 403 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in McDonald’s were worth $126,000 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. WealthPlan Investment Management LLC lifted its position in McDonald’s by 0.9% in the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock worth $1,134,000 after buying an additional 32 shares during the last quarter. Security Financial Services INC. lifted its position in shares of McDonald’s by 0.7% during the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock worth $1,575,000 after purchasing an additional 33 shares during the last quarter. Ascent Wealth Partners LLC lifted its position in shares of McDonald’s by 0.3% during the first quarter. Ascent Wealth Partners LLC now owns 11,588 shares of the fast-food giant’s stock worth $3,620,000 after purchasing an additional 34 shares during the last quarter. Platform Technology Partners lifted its position in shares of McDonald’s by 0.4% during the first quarter. Platform Technology Partners now owns 8,617 shares of the fast-food giant’s stock worth $2,692,000 after purchasing an additional 35 shares during the last quarter. Finally, Alexander Labrunerie & CO. Inc. lifted its position in shares of McDonald’s by 3.4% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 1,070 shares of the fast-food giant’s stock worth $334,000 after purchasing an additional 35 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MCD. Royal Bank Of Canada began coverage on McDonald’s in a research report on Wednesday, October 8th. They set a “sector perform” rating and a $320.00 target price for the company. Evercore ISI lifted their target price on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. KeyCorp reiterated an “overweight” rating and set a $335.00 target price on shares of McDonald’s in a research report on Monday. Citigroup decreased their target price on McDonald’s from $381.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Barclays lifted their target price on McDonald’s from $360.00 to $362.00 and gave the stock an “overweight” rating in a research report on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $324.50.

McDonald’s Price Performance

MCD stock opened at $306.05 on Friday. The business has a 50-day moving average price of $306.49 and a 200 day moving average price of $305.61. The company has a market capitalization of $218.39 billion, a P/E ratio of 26.23, a PEG ratio of 3.24 and a beta of 0.50. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32.

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

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders 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 presently 60.67%.

Insiders Place Their Bets

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

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.