Encompass More Asset Management Grows Stock Holdings in McDonald’s Co. (NYSE:MCD)

Encompass More Asset Management raised its holdings in McDonald’s Co. (NYSE:MCD) by 70.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,542 shares of the fast-food giant’s stock after purchasing an additional 1,048 shares during the quarter. Encompass More Asset Management’s holdings in McDonald’s were worth $774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its holdings in McDonald’s by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after purchasing an additional 188,888 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of McDonald’s by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after acquiring an additional 49,106 shares during the period. Ameriprise Financial Inc. lifted its position in shares of McDonald’s by 8.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after acquiring an additional 354,196 shares during the period. International Assets Investment Management LLC lifted its position in shares of McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after acquiring an additional 2,311,721 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of McDonald’s by 1.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,015,441 shares of the fast-food giant’s stock valued at $613,722,000 after acquiring an additional 22,780 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

MCD has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Truist Financial reduced their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. BMO Capital Markets lifted their price objective on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price objective on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Price Performance

Shares of MCD stock opened at $296.01 on Friday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The firm has a market capitalization of $212.13 billion, a P/E ratio of 25.99, a P/E/G ratio of 3.92 and a beta of 0.74. The company’s fifty day moving average price is $299.96 and its two-hundred day moving average price is $278.95.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping 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 firm 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 business posted $3.19 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 dividend on an annualized basis and a yield of 2.39%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 58.65%.

Insiders Place Their Bets

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction dated 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 owns 2,905 shares in the company, valued at approximately $900,550. This trade represents a 44.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,597 shares of company stock worth $10,702,754 in the last quarter. 0.23% of the stock is owned by corporate 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.