Legacy Capital Partners Inc. lowered its stake in McDonald’s Corp. (NYSE:MCD) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,860 shares of the fast-food giant’s stock after selling 561 shares during the period. McDonald’s Corp. makes up approximately 1.8% of Legacy Capital Partners Inc.’s holdings, making the stock its 16th largest position. Legacy Capital Partners Inc.’s holdings in McDonald’s Corp. were worth $2,872,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Emerald Acquisition Ltd. bought a new position in shares of McDonald’s Corp. during the second quarter worth about $158,428,000. Societe Generale bought a new position in shares of McDonald’s Corp. during the second quarter worth about $151,614,000. Renaissance Technologies LLC bought a new position in shares of McDonald’s Corp. during the first quarter worth about $76,602,000. NN Investment Partners Holdings N.V. increased its position in shares of 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 worth $139,800,000 after buying an additional 607,056 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in shares of McDonald’s Corp. by 15.1% in the second quarter. UBS Asset Management Americas Inc. now owns 3,952,572 shares of the fast-food giant’s stock worth $475,653,000 after buying an additional 519,237 shares during the period. Institutional investors and hedge funds own 69.10% of the company’s stock.
McDonald’s Corp. (NYSE:MCD) traded up 0.15% on Tuesday, reaching $114.81. The company’s stock had a trading volume of 792,654 shares. The company has a market capitalization of $97.97 billion, a PE ratio of 21.92 and a beta of 0.61. McDonald’s Corp. has a one year low of $100.34 and a one year high of $131.96. The firm has a 50-day moving average of $115.93 and a 200-day moving average of $121.97.
McDonald’s Corp. (NYSE:MCD) last issued its quarterly earnings data on Tuesday, July 26th. The fast-food giant reported $1.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.06. The firm earned $6.27 billion during the quarter, compared to analyst estimates of $6.28 billion. McDonald’s Corp. had a return on equity of 97.56% and a net margin of 18.73%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.26 earnings per share. Analysts predict that McDonald’s Corp. will post $5.56 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a $0.94 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $3.76 annualized dividend and a yield of 3.28%. This is a positive change from McDonald’s Corp.’s previous quarterly dividend of $0.89. McDonald’s Corp.’s dividend payout ratio (DPR) is currently 68.59%.
Several research firms recently commented on MCD. Vetr cut McDonald’s Corp. from a “buy” rating to a “hold” rating and set a $114.15 target price for the company. in a research note on Monday. Zacks Investment Research raised McDonald’s Corp. from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a research note on Tuesday, September 27th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $132.00 target price on shares of McDonald’s Corp. in a research note on Friday, September 16th. Citigroup Inc. decreased their target price on 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. Finally, Robert W. Baird reaffirmed an “outperform” rating on shares of McDonald’s Corp. in a research note on Thursday, September 8th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $125.85.
In related news, Chairman Andrew J. Mckenna sold 70,000 shares of McDonald’s Corp. stock in a transaction dated Thursday, August 4th. The stock was 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 in the company, valued at $12,873,713.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.28% of the stock is owned by corporate 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.
Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald’s Corp. (NYSE:MCD).
Receive News & Ratings for McDonald's Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDonald's Corp. and related companies with MarketBeat.com's FREE daily email newsletter.