Hilton Capital Management LLC decreased its position in shares of McDonald’s Corp. (NYSE:MCD) by 24.8% during the second quarter, Holdings Channel reports. The institutional investor owned 76,703 shares of the fast-food giant’s stock after selling 25,241 shares during the period. McDonald’s Corp. comprises approximately 2.9% of Hilton Capital Management LLC’s portfolio, making the stock its 16th largest position. Hilton Capital Management LLC’s holdings in McDonald’s Corp. were worth $9,230,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of MCD. Raab & Moskowitz Asset Management LLC increased its stake in shares of McDonald’s Corp. by 3.9% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 4,182 shares of the fast-food giant’s stock valued at $525,000 after buying an additional 158 shares during the last quarter. Hyman Charles D acquired a new stake in shares of McDonald’s Corp. during the first quarter valued at $16,621,000. IFP Advisors Inc increased its stake in shares of McDonald’s Corp. by 6.6% in the first quarter. IFP Advisors Inc now owns 69,854 shares of the fast-food giant’s stock valued at $8,779,000 after buying an additional 4,323 shares during the last quarter. Badgley Phelps & Bell Inc. increased its stake in shares of McDonald’s Corp. by 49.2% in the first quarter. Badgley Phelps & Bell Inc. now owns 2,940 shares of the fast-food giant’s stock valued at $370,000 after buying an additional 970 shares during the last quarter. Finally, American Economic Planning Group Inc. ADV acquired a new stake in shares of McDonald’s Corp. during the first quarter valued at $222,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.
McDonald’s Corp. (NYSE:MCD) traded down 1.47% during mid-day trading on Monday, hitting $112.41. The company had a trading volume of 5,655,748 shares. McDonald’s Corp. has a 12-month low of $102.08 and a 12-month high of $131.96. The company’s 50 day moving average price is $115.30 and its 200-day moving average price is $121.25. The firm has a market capitalization of $95.93 billion, a PE ratio of 21.46 and a beta of 0.61.
McDonald’s Corp. (NYSE:MCD) last posted 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 business 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%. McDonald’s Corp.’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 earnings per share. On average, analysts forecast that McDonald’s Corp. will post $5.56 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 3.34%. This is an increase from McDonald’s Corp.’s previous quarterly dividend of $0.89. The ex-dividend date is Tuesday, November 29th. McDonald’s Corp.’s dividend payout ratio is presently 68.59%.
Several analysts recently weighed in on MCD shares. Zacks Investment Research downgraded McDonald’s Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Jefferies Group restated a “hold” rating on shares of McDonald’s Corp. in a research note on Friday, August 5th. 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 research note on Monday, June 27th. Deutsche Bank AG restated a “buy” rating on shares of McDonald’s Corp. in a research note on Wednesday, August 10th. Finally, Vetr upgraded McDonald’s Corp. from a “hold” rating to a “buy” rating and set a $121.01 target price for the company in a research note on Wednesday, September 28th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $125.75.
In related news, Chairman Andrew J. Mckenna sold 70,000 shares of the stock in a transaction 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 sale, the chairman now directly owns 108,841 shares in the company, valued at $12,873,713.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.
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