Bartlett & Co. LLC lowered its stake in shares of McDonald’s Corp. (NYSE:MCD) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 101,985 shares of the fast-food giant’s stock after selling 1,120 shares during the period. Bartlett & Co. LLC’s holdings in McDonald’s Corp. were worth $12,273,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of MCD. Renaissance Technologies LLC bought a new position in McDonald’s Corp. during the first quarter valued at about $76,602,000. NN Investment Partners Holdings N.V. increased its position in McDonald’s Corp. by 109.4% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,161,699 shares of the fast-food giant’s stock valued at $139,800,000 after buying an additional 607,056 shares during the period. UBS Asset Management Americas Inc. increased its position in McDonald’s Corp. by 15.5% in the first quarter. UBS Asset Management Americas Inc. now owns 3,433,335 shares of the fast-food giant’s stock valued at $431,501,000 after buying an additional 461,750 shares during the period. Virginia Retirement System bought a new position in McDonald’s Corp. during the first quarter valued at about $53,475,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in McDonald’s Corp. by 92.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 822,646 shares of the fast-food giant’s stock valued at $103,390,000 after buying an additional 394,883 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.
Shares of McDonald’s Corp. (NYSE:MCD) traded down 1.03% during trading on Tuesday, hitting $111.25. The stock had a trading volume of 6,198,363 shares. The stock has a 50-day moving average of $115.18 and a 200 day moving average of $121.13. The firm has a market cap of $94.94 billion, a price-to-earnings ratio of 21.24 and a beta of 0.61. McDonald’s Corp. has a 12-month low of $102.08 and a 12-month high of $131.96.
McDonald’s Corp. (NYSE:MCD) last released its earnings results on Tuesday, July 26th. The fast-food giant reported $1.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.06. McDonald’s Corp. had a return on equity of 97.56% and a net margin of 18.73%. The firm had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same period in the prior year, the business posted $1.26 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, analysts predict that McDonald’s Corp. will post $5.56 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This is an increase from McDonald’s Corp.’s previous quarterly dividend of $0.89. This represents a $3.76 annualized dividend and a yield of 3.38%. McDonald’s Corp.’s dividend payout ratio is 68.59%.
Several equities analysts have recently issued reports on MCD shares. Zacks Investment Research upgraded shares of McDonald’s Corp. from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a report on Tuesday, September 27th. Vetr upgraded shares of McDonald’s Corp. from a “hold” rating to a “buy” rating and set a $121.01 price objective on the stock in a report on Monday, September 5th. Morgan Stanley reiterated a “hold” rating and issued a $118.00 price target on shares of McDonald’s Corp. in a report on Thursday, July 28th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $132.00 price target on shares of McDonald’s Corp. in a report on Friday, September 16th. Finally, Canaccord Genuity began 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 on the stock. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $126.27.
In related news, Chairman Andrew J. Mckenna sold 70,000 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $118.28, for a total transaction of $8,279,600.00. Following the transaction, the chairman now directly owns 108,841 shares in the company, valued at $12,873,713.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.28% of the company’s stock.
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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