Douglas Lane & Associates LLC decreased its position in McDonald’s Corp. (NYSE:MCD) by 10.4% during the second quarter, Holdings Channel reports. The fund owned 4,570 shares of the fast-food giant’s stock after selling 528 shares during the period. Douglas Lane & Associates LLC’s holdings in McDonald’s Corp. were worth $550,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in MCD. 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 worth $115,000 after buying an additional 721 shares during 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 worth $123,000 after buying an additional 830 shares during the last quarter. LGL Partners LLC raised its stake in McDonald’s Corp. by 0.4% in the first quarter. LGL Partners LLC now owns 1,722 shares of the fast-food giant’s stock worth $216,000 after buying an additional 7 shares during the last quarter. American Economic Planning Group Inc. ADV purchased a new stake in McDonald’s Corp. during the first quarter worth $222,000. Finally, Brookstone Capital Management purchased a new stake in McDonald’s Corp. during the second quarter worth $224,000. Hedge funds and other institutional investors own 69.10% of the company’s stock.
McDonald’s Corp. (NYSE:MCD) traded up 1.11% during trading on Monday, hitting $114.71. The stock had a trading volume of 3,290,052 shares. The company has a market cap of $97.89 billion, a P/E ratio of 21.90 and a beta of 0.61. McDonald’s Corp. has a 12-month low of $101.60 and a 12-month high of $131.96. The company has a 50 day moving average of $115.46 and a 200-day moving average of $121.70.
McDonald’s Corp. (NYSE:MCD) last announced its 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. The company had revenue of $6.27 billion for 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%. McDonald’s Corp.’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.26 earnings per share. On average, equities analysts predict that McDonald’s Corp. will post $5.56 EPS for the current year.
The business 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 is a positive change from McDonald’s Corp.’s previous quarterly dividend of $0.89. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.28%. McDonald’s Corp.’s payout ratio is 68.59%.
Several brokerages have commented on MCD. TheStreet lowered shares of McDonald’s Corp. from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Nomura reiterated a “hold” rating on shares of McDonald’s Corp. in a research note on Tuesday, July 12th. Jefferies Group set a $115.00 price target on shares of McDonald’s Corp. and gave the company a “neutral” rating in a research note on Tuesday, July 26th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of McDonald’s Corp. in a research note on Wednesday, July 27th. Finally, Vetr upgraded shares of McDonald’s Corp. from a “hold” rating to a “buy” rating and set a $121.01 price target on the stock in a research note on Wednesday, September 28th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $126.01.
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 sale, the chairman now directly owns 108,841 shares of the company’s stock, valued at $12,873,713.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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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