American Assets Investment Management LLC Acquires New Position in McDonald’s Corporation $MCD

American Assets Investment Management LLC acquired a new stake in shares of McDonald’s Corporation (NYSE:MCD) during the second quarter, HoldingsChannel reports. The fund acquired 4,000 shares of the fast-food giant’s stock, valued at approximately $1,255,000.

Other large investors also recently modified their holdings of the company. NewSquare Capital LLC lifted its stake in McDonald’s by 80.2% in the second quarter. NewSquare Capital LLC now owns 528 shares of the fast-food giant’s stock worth $154,000 after purchasing an additional 235 shares during the last quarter. Rockline Wealth Management LLC lifted its stake in McDonald’s by 0.7% in the second quarter. Rockline Wealth Management LLC now owns 17,377 shares of the fast-food giant’s stock worth $5,077,000 after purchasing an additional 120 shares during the last quarter. J. W. Coons Advisors LLC lifted its stake in McDonald’s by 6.3% in the second quarter. J. W. Coons Advisors LLC now owns 12,169 shares of the fast-food giant’s stock worth $3,555,000 after purchasing an additional 723 shares during the last quarter. Elyxium Wealth LLC lifted its stake in McDonald’s by 2.8% in the second quarter. Elyxium Wealth LLC now owns 2,040 shares of the fast-food giant’s stock worth $596,000 after purchasing an additional 56 shares during the last quarter. Finally, Code Waechter LLC lifted its stake in McDonald’s by 12.1% in the second quarter. Code Waechter LLC now owns 983 shares of the fast-food giant’s stock worth $287,000 after purchasing an additional 106 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

Shares of MCD stock opened at $299.18 on Wednesday. The firm has a market cap of $213.50 billion, a P/E ratio of 25.64, a P/E/G ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The business’s 50 day moving average price is $305.07 and its 200-day moving average price is $305.25.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping 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 firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same period last year, the company earned $2.97 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts predict 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 will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $1.86 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, December 1st. McDonald’s’s dividend payout ratio is presently 63.75%.

Insider Activity

In related 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 transaction of $315,000.00. Following the transaction, the chief marketing officer owned 6,858 shares in the company, valued at $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the sale, the executive vice president owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

MCD has been the topic of a number of analyst reports. Barclays lifted their price target on McDonald’s from $360.00 to $362.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Wells Fargo & Company decreased their price target on McDonald’s from $350.00 to $340.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. The Goldman Sachs Group raised McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target on the stock in a research note on Thursday, July 10th. Truist Financial decreased their price target on McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Finally, Guggenheim decreased their price target on McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a research note on Friday, October 10th. Eleven research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average 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.