Accredited Investors Inc. raised its stake in McDonald’s Corp. (NYSE:MCD) by 26.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,894 shares of the fast-food giant’s stock after buying an additional 809 shares during the period. Accredited Investors Inc.’s holdings in McDonald’s Corp. were worth $469,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pennsylvania Trust Co increased its position in McDonald’s Corp. by 3.3% in the second quarter. Pennsylvania Trust Co now owns 108,250 shares of the fast-food giant’s stock valued at $13,027,000 after buying an additional 3,477 shares during the period. Exxonmobil Investment Management Inc. TX increased its position in McDonald’s Corp. by 3.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 227,234 shares of the fast-food giant’s stock valued at $27,345,000 after buying an additional 7,714 shares during the period. Geode Capital Management LLC increased its position in McDonald’s Corp. by 4.0% in the first quarter. Geode Capital Management LLC now owns 7,789,916 shares of the fast-food giant’s stock valued at $977,173,000 after buying an additional 302,511 shares during the period. National Pension Service increased its position in McDonald’s Corp. by 4.2% in the first quarter. National Pension Service now owns 481,054 shares of the fast-food giant’s stock valued at $60,459,000 after buying an additional 19,502 shares during the period. Finally, Royal Bank of Scotland Group PLC acquired a new position in McDonald’s Corp. during the first quarter valued at approximately $540,000. 69.10% of the stock is owned by institutional investors.
McDonald’s Corp. (NYSE:MCD) traded down 0.16% on Friday, hitting $117.17. 2,775,956 shares of the stock traded hands. McDonald’s Corp. has a 12 month low of $95.78 and a 12 month high of $131.96. The company has a market capitalization of $99.99 billion, a PE ratio of 22.37 and a beta of 0.59. The firm has a 50-day moving average price of $116.50 and a 200-day moving average price of $122.22.
McDonald’s Corp. (NYSE:MCD) last posted its quarterly earnings results on Tuesday, July 26th. The fast-food giant reported $1.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.06. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.28 billion. McDonald’s Corp. had a net margin of 18.73% and a return on equity of 97.56%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.26 EPS. Analysts forecast that McDonald’s Corp. will post $5.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, September 1st were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Tuesday, August 30th. McDonald’s Corp.’s dividend payout ratio is presently 68.59%.
Several research analysts have commented on MCD shares. Credit Suisse Group AG reissued an “outperform” rating and issued a $132.00 price target on shares of McDonald’s Corp. in a report on Friday, September 16th. Robert W. Baird reissued an “outperform” rating on shares of McDonald’s Corp. in a report on Thursday, September 8th. Vetr raised shares of McDonald’s Corp. from a “hold” rating to a “buy” rating and set a $121.01 price target for the company in a report on Monday, September 5th. Citigroup Inc. cut their price target on shares of McDonald’s Corp. from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Tuesday, September 13th. Finally, Canaccord Genuity started coverage on shares of McDonald’s Corp. in a report on Monday, August 22nd. They issued a “hold” rating and a $122.00 price target for the company. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $126.62.
In other McDonald’s Corp. news, Chairman Andrew J. Mckenna sold 70,000 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $118.28, for a total transaction of $8,279,600.00. Following the transaction, the chairman now owns 108,841 shares of the company’s stock, valued at approximately $12,873,713.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.28% of the stock is currently owned by corporate insiders.
McDonald’s Corp. Company Profile
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally-relevant menu of quality food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets and Foundational Markets and Corporate.
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