MSI Financial Services Inc cut its position in McDonald’s Corp. (NYSE:MCD) by 12.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,100 shares of the fast-food giant’s stock after selling 8,873 shares during the period. MSI Financial Services Inc’s holdings in McDonald’s Corp. were worth $7,834,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in McDonald’s Corp. during the first quarter valued at $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 $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 69.10% of the company’s stock.
Shares of McDonald’s Corp. (NYSE:MCD) traded down 0.41% during trading on Friday, hitting $113.45. The stock had a trading volume of 4,153,139 shares. McDonald’s Corp. has a one year low of $101.60 and a one year high of $131.96. The stock has a market cap of $96.81 billion, a P/E ratio of 21.66 and a beta of 0.61. The stock’s 50 day moving average price is $115.46 and its 200-day moving average price is $121.70.
McDonald’s Corp. (NYSE:MCD) last issued its quarterly earnings results on Tuesday, July 26th. The fast-food giant reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.06. McDonald’s Corp. had a net margin of 18.73% and a return on equity of 97.56%. The business had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period in the previous year, the business posted $1.26 earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year. Analysts expect that McDonald’s Corp. will post $5.56 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.31%. This is a positive change from McDonald’s Corp.’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Tuesday, November 29th. McDonald’s Corp.’s payout ratio is 68.59%.
Several research firms recently weighed in on MCD. RBC Capital Markets reiterated a “buy” rating and set a $140.00 target price on shares of McDonald’s Corp. in a research report on Friday, July 22nd. Jefferies Group set a $115.00 target price on McDonald’s Corp. and gave the company a “neutral” rating in a research report on Tuesday, July 26th. Nomura set a $129.00 target price on McDonald’s Corp. and gave the company a “neutral” rating in a research report on Wednesday, July 20th. Wells Fargo & Co. reiterated a “market perform” rating on shares of McDonald’s Corp. in a research report on Wednesday, July 20th. Finally, Zacks Investment Research upgraded McDonald’s Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, July 21st. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and thirteen have assigned a buy rating to the company. McDonald’s Corp. currently has an average rating of “Hold” and an average price target of $125.85.
In other news, Chairman Andrew J. Mckenna sold 70,000 shares of the business’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 directly owns 108,841 shares in the company, valued at $12,873,713.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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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