Somerset Group LLC cut its stake in shares of McDonald’s Corp. (NYSE:MCD) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,587 shares of the fast-food giant’s stock after selling 12 shares during the period. Somerset Group LLC’s holdings in McDonald’s Corp. were worth $552,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Invictus RG increased its position in McDonald’s Corp. by 364.1% in the first quarter. Invictus RG now owns 919 shares of the fast-food giant’s stock worth $115,000 after buying an additional 721 shares in the last quarter. Glassman Wealth Services increased its position in McDonald’s Corp. by 27.4% in the second quarter. Glassman Wealth Services now owns 930 shares of the fast-food giant’s stock worth $112,000 after buying an additional 200 shares in the last quarter. RPg Family Wealth Advisory LLC increased its position 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 worth $123,000 after buying an additional 830 shares in the last quarter. MU Investments Co. Ltd. bought a new position in McDonald’s Corp. during the second quarter worth approximately $163,000. Finally, Cypress Capital Management LLC WY bought a new position in McDonald’s Corp. during the second quarter worth approximately $178,000. 69.10% of the stock is owned by hedge funds and other institutional investors.
Shares of McDonald’s Corp. (NYSE:MCD) traded up 0.61% during midday trading on Wednesday, reaching $114.19. The company had a trading volume of 934,848 shares. McDonald’s Corp. has a 52-week low of $100.34 and a 52-week high of $131.96. The company’s 50-day moving average is $115.78 and its 200-day moving average is $121.89. The firm has a market cap of $97.45 billion, a P/E ratio of 21.80 and a beta of 0.61.
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 analysts’ consensus estimates of $1.39 by $0.06. The company earned $6.27 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.26 earnings per share. Equities research analysts expect that McDonald’s Corp. will post $5.56 EPS for the current fiscal 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 given a dividend of $0.94 per share. The ex-dividend date is Tuesday, November 29th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.31%. This is an increase from McDonald’s Corp.’s previous quarterly dividend of $0.89. McDonald’s Corp.’s payout ratio is presently 68.59%.
MCD has been the subject of a number of research analyst reports. Credit Agricole SA reaffirmed a “sell” rating and set a $128.00 price objective on shares of McDonald’s Corp. in a research note on Wednesday, June 8th. Longbow Research reiterated a “hold” rating on shares of McDonald’s Corp. in a report on Wednesday, June 8th. Nomura cut McDonald’s Corp. from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $142.00 to $129.00 in a report on Wednesday, June 22nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of McDonald’s Corp. in a report on Wednesday, June 22nd. Finally, Credit Suisse Group AG decreased their target price on McDonald’s Corp. from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Monday, June 27th. Two investment 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’s stock. The company has a consensus 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 on 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 completion of the sale, the chairman now owns 108,841 shares in the company, valued at $12,873,713.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.28% of the company’s stock.
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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