Jennison Associates LLC Trims Stock Holdings in McDonald's Co. (NYSE:MCD)

Jennison Associates LLC lowered its holdings in shares of McDonald's Co. (NYSE:MCD - Free Report) by 13.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 206,782 shares of the fast-food giant's stock after selling 33,245 shares during the quarter. Jennison Associates LLC's holdings in McDonald's were worth $62,967,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MCD. International Assets Investment Management LLC grew its holdings in shares of McDonald's by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant's stock worth $706,202,000 after purchasing an additional 2,311,721 shares during the last quarter. Swedbank AB bought a new position in McDonald's in the 1st quarter worth about $348,206,000. Capital World Investors increased its position in shares of McDonald's by 39.7% during the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant's stock worth $1,005,264,000 after acquiring an additional 1,012,534 shares during the period. Mondrian Investment Partners LTD bought a new stake in shares of McDonald's during the second quarter valued at approximately $110,321,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of McDonald's in the third quarter valued at approximately $121,254,000. Institutional investors own 70.29% of the company's stock.

McDonald's Trading Up 0.1 %

Shares of NYSE:MCD opened at $290.89 on Thursday. McDonald's Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The company's 50 day moving average is $300.06 and its 200 day moving average is $277.84. The company has a market cap of $208.46 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 3.89 and a beta of 0.74.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to analysts' expectations of $6.82 billion. McDonald's had a negative return on equity of 175.42% and a net margin of 31.79%. McDonald's's quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $3.19 earnings per share. Equities research analysts predict that McDonald's Co. will post 11.77 earnings per share for the current fiscal year.

McDonald's Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald's's previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.43%. McDonald's's dividend payout ratio is 62.16%.

Insider Buying and Selling at McDonald's

In other McDonald's news, EVP Marion K. Gross sold 1,498 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $446,721.60. This represents a 48.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. This trade represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,596 shares of company stock valued at $10,698,289. Corporate insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their target price on McDonald's from $295.00 to $290.00 and set a "buy" rating for the company in a research report on Tuesday, July 30th. Truist Financial lowered 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. Guggenheim downgraded shares of McDonald's from a "buy" rating to a "neutral" rating and cut their target price for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. BMO Capital Markets boosted their price target on shares of McDonald's from $315.00 to $335.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Finally, Bank of America increased their price objective on shares of McDonald's from $321.00 to $324.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Thirteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, McDonald's currently has an average rating of "Moderate Buy" and a consensus price target of $319.46.

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.

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