Ameriprise Financial Inc. cut its stake in shares of McDonald’s Corp. (NYSE:MCD) by 29.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,416,538 shares of the fast-food giant’s stock after selling 1,415,109 shares during the period. Ameriprise Financial Inc. owned 0.40% of McDonald’s Corp. worth $411,119,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Invictus RG raised its stake in McDonald’s Corp. by 364.1% in the first quarter. Invictus RG now owns 919 shares of the fast-food giant’s stock valued at $115,000 after buying an additional 721 shares in the last quarter. RPg Family Wealth Advisory LLC raised its stake in McDonald’s Corp. by 572.4% in the first quarter. RPg Family Wealth Advisory LLC now owns 975 shares of the fast-food giant’s stock valued at $123,000 after buying an additional 830 shares in the last quarter. MU Investments Co. Ltd. acquired a new stake in McDonald’s Corp. during the second quarter valued at approximately $163,000. Cypress Capital Management LLC WY acquired a new stake in McDonald’s Corp. during the second quarter valued at approximately $178,000. Finally, Tradewinds Capital Management LLC raised its stake in McDonald’s Corp. by 2.3% in the second quarter. Tradewinds Capital Management LLC now owns 1,557 shares of the fast-food giant’s stock valued at $187,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 69.19% of the company’s stock.
Shares of McDonald’s Corp. (NYSE:MCD) traded up 1.22% during midday trading on Tuesday, hitting $116.61. 3,069,920 shares of the stock traded hands. The firm’s 50-day moving average is $116.61 and its 200 day moving average is $122.30. The company has a market capitalization of $99.51 billion, a price-to-earnings ratio of 22.27 and a beta of 0.59. McDonald’s Corp. has a 52 week low of $95.78 and a 52 week high of $131.96.
McDonald’s Corp. (NYSE:MCD) last posted its earnings results on Tuesday, July 26th. The fast-food giant reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.06. The firm earned $6.27 billion during the quarter, compared to analysts’ expectations of $6.28 billion. McDonald’s Corp. had a net margin of 18.73% and a return on equity of 97.56%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.26 earnings per share. Equities analysts forecast that McDonald’s Corp. will post $5.56 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, September 1st were issued a $0.89 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 3.09%. McDonald’s Corp.’s dividend payout ratio (DPR) is currently 68.59%.
Several analysts recently commented on MCD shares. Credit Suisse Group AG reissued an “outperform” rating and set a $132.00 target price on shares of McDonald’s Corp. in a research note on Friday. Robert W. Baird reissued an “outperform” rating on shares of McDonald’s Corp. in a research note on Thursday, September 8th. Citigroup Inc. cut their target price on shares of McDonald’s Corp. from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Tuesday, September 13th. Vetr raised shares of McDonald’s Corp. from a “hold” rating to a “buy” rating and set a $121.01 target price for the company in a research note on Monday, September 5th. Finally, Canaccord Genuity assumed coverage on shares of McDonald’s Corp. in a research note on Monday, August 22nd. They set a “hold” rating and a $122.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $126.62.
In other news, Chairman Andrew J. Mckenna sold 70,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $118.28, for a total value of $8,279,600.00. Following the completion of the transaction, the chairman now owns 108,841 shares of the company’s stock, valued at $12,873,713.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.28% of the stock is currently owned by insiders.
About McDonald’s Corp.
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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