Y Intercept Hong Kong Ltd Invests $6.03 Million in McDonald’s Corporation $MCD

Y Intercept Hong Kong Ltd purchased a new position in shares of McDonald’s Corporation (NYSE:MCD) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 20,626 shares of the fast-food giant’s stock, valued at approximately $6,026,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bessemer Group Inc. boosted its position in shares of McDonald’s by 0.4% during the second quarter. Bessemer Group Inc. now owns 503,813 shares of the fast-food giant’s stock worth $147,200,000 after buying an additional 1,982 shares during the period. Brookwood Investment Group LLC boosted its holdings in McDonald’s by 49.0% in the second quarter. Brookwood Investment Group LLC now owns 2,726 shares of the fast-food giant’s stock valued at $796,000 after purchasing an additional 897 shares during the period. GoalVest Advisory LLC boosted its holdings in McDonald’s by 5.6% in the second quarter. GoalVest Advisory LLC now owns 6,377 shares of the fast-food giant’s stock valued at $1,863,000 after purchasing an additional 336 shares during the period. First Command Advisory Services Inc. boosted its holdings in McDonald’s by 1.0% in the second quarter. First Command Advisory Services Inc. now owns 4,981 shares of the fast-food giant’s stock valued at $1,455,000 after purchasing an additional 48 shares during the period. Finally, Banco Santander S.A. boosted its holdings in McDonald’s by 2.1% in the second quarter. Banco Santander S.A. now owns 38,087 shares of the fast-food giant’s stock valued at $11,128,000 after purchasing an additional 800 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Price Performance

McDonald’s stock opened at $309.97 on Tuesday. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The stock has a market cap of $221.19 billion, a PE ratio of 26.56, a P/E/G ratio of 3.23 and a beta of 0.50. The stock’s fifty day moving average is $306.52 and its two-hundred day moving average is $305.71.

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 company had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same period last year, the firm earned $2.97 earnings per share. McDonald’s’s quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts expect 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. Stockholders of record on Monday, December 1st will be given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. McDonald’s’s payout ratio is presently 60.67%.

Insider Transactions at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the sale, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,463 shares of company stock worth $1,692,186. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MCD shares. BMO Capital Markets lifted their target price on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Stifel Nicolaus lifted their target price on McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a report on Friday, August 22nd. Guggenheim decreased their target price on McDonald’s from $310.00 to $295.00 and set a “neutral” rating for the company in a report on Friday, October 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of McDonald’s in a report on Wednesday, October 8th. Finally, Melius started coverage on McDonald’s in a report on Monday, July 14th. They issued a “sell” rating and a $250.00 target price for the company. Eleven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, McDonald’s has an average rating of “Hold” and a consensus price target of $323.43.

About McDonald’s

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.