McDonald’s Corporation $MCD Holdings Boosted by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its holdings in McDonald’s Corporation (NYSE:MCD) by 124.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,030 shares of the fast-food giant’s stock after purchasing an additional 55,490 shares during the period. Thrivent Financial for Lutherans’ holdings in McDonald’s were worth $29,219,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank purchased a new stake in McDonald’s in the 2nd quarter worth about $2,780,712,000. Laurel Wealth Advisors LLC grew its stake in McDonald’s by 29,382.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock valued at $1,676,339,000 after acquiring an additional 5,718,087 shares in the last quarter. Soundwatch Capital LLC acquired a new position in shares of McDonald’s in the 2nd quarter valued at about $1,412,069,000. Viking Global Investors LP lifted its position in shares of McDonald’s by 171.7% in the second quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock worth $913,157,000 after purchasing an additional 1,974,998 shares in the last quarter. Finally, Amundi boosted its holdings in shares of McDonald’s by 96.0% during the second quarter. Amundi now owns 4,032,676 shares of the fast-food giant’s stock worth $1,188,147,000 after purchasing an additional 1,974,751 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Activity

In related news, CFO Ian Frederick Borden sold 17,134 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the completion of the sale, the chief financial officer directly owned 26,353 shares of the company’s stock, valued at approximately $8,169,430. This represents a 39.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Manuel Jm Steijaert sold 13,134 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the completion of the transaction, the executive vice president owned 4,606 shares in the company, valued at $1,383,734.52. The trade was a 74.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 40,030 shares of company stock valued at $12,240,570 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

McDonald’s Price Performance

NYSE MCD opened at $318.96 on Tuesday. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The stock’s 50-day moving average is $305.44 and its two-hundred day moving average is $303.69. The firm has a market cap of $227.15 billion, a P/E ratio of 27.22, a price-to-earnings-growth ratio of 3.52 and a beta of 0.52.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter last year, the company posted $3.23 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. On average, equities analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.3%. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date was Monday, December 1st. McDonald’s’s dividend payout ratio is 63.48%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MCD shares. Royal Bank Of Canada began coverage on shares of McDonald’s in a research note on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price objective on the stock. BTIG Research reaffirmed a “neutral” rating on shares of McDonald’s in a research note on Friday, October 24th. Morgan Stanley set a $335.00 price objective on McDonald’s in a research report on Friday, October 17th. Barclays lowered their target price on McDonald’s from $362.00 to $358.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of McDonald’s in a research note on Wednesday, December 10th. Eleven investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $324.57.

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.