Davis Rea LTD. raised its stake in McDonald’s Corp. (NYSE:MCD) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,862 shares of the fast-food giant’s stock after buying an additional 50 shares during the period. McDonald’s Corp. comprises approximately 2.6% of Davis Rea LTD.’s holdings, making the stock its 16th largest position. Davis Rea LTD.’s holdings in McDonald’s Corp. were worth $3,714,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of MCD. Montrusco Bolton Investments Inc. increased its stake in McDonald’s Corp. by 81.9% in the first quarter. Montrusco Bolton Investments Inc. now owns 3,420 shares of the fast-food giant’s stock valued at $430,000 after buying an additional 1,540 shares during the period. QUANTRES ASSET MANAGEMENT Ltd bought a new position in shares of McDonald’s Corp. during the first quarter valued at $302,000. V Wealth Management LLC bought a new position in shares of McDonald’s Corp. during the first quarter valued at $419,000. Private Trust Co. NA boosted its position in shares of McDonald’s Corp. by 1.5% in the first quarter. Private Trust Co. NA now owns 21,171 shares of the fast-food giant’s stock valued at $2,660,000 after buying an additional 322 shares in the last quarter. Finally, First Financial Corp IN boosted its position in shares of McDonald’s Corp. by 0.8% in the first quarter. First Financial Corp IN now owns 14,761 shares of the fast-food giant’s stock valued at $1,855,000 after buying an additional 115 shares in the last quarter. Institutional investors own 69.10% of the company’s stock.
Shares of McDonald’s Corp. (NYSE:MCD) traded up 0.50% on Friday, hitting $115.36. The stock had a trading volume of 4,188,694 shares. McDonald’s Corp. has a 12 month low of $100.20 and a 12 month high of $131.96. The stock has a 50 day moving average of $116.07 and a 200-day moving average of $122.05. The stock has a market cap of $98.44 billion, a PE ratio of 22.03 and a beta of 0.59.
McDonald’s Corp. (NYSE:MCD) last released its earnings results on Tuesday, July 26th. The fast-food giant reported $1.45 EPS for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.06. The company earned $6.27 billion during the quarter, compared to analysts’ expectations of $6.28 billion. McDonald’s Corp. had a return on equity of 97.56% and a net margin of 18.73%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.26 EPS. Equities research analysts anticipate that McDonald’s Corp. will post $5.56 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Tuesday, November 29th. This is a boost from McDonald’s Corp.’s previous quarterly dividend of $0.89. McDonald’s Corp.’s dividend payout ratio (DPR) is presently 68.59%.
Several equities analysts have weighed in on MCD shares. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $132.00 price objective on shares of McDonald’s Corp. in a report on Friday, September 16th. Robert W. Baird reaffirmed an “outperform” rating on shares of McDonald’s Corp. in a report on Thursday, September 8th. Vetr raised McDonald’s Corp. from a “hold” rating to a “buy” rating and set a $121.01 price objective for the company in a report on Wednesday. Zacks Investment Research raised McDonald’s Corp. from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a report on Tuesday. Finally, Citigroup Inc. dropped their price objective on McDonald’s Corp. from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Tuesday, September 13th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $126.12.
In other news, Chairman Andrew J. Mckenna sold 70,000 shares of the firm’s stock in a transaction that occurred on 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 approximately $12,873,713.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.28% of the stock is 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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