Oppenheimer Asset Management Inc. Takes Position in McDonald’s Corporation (NYSE:MCD)

Oppenheimer Asset Management Inc. bought a new position in shares of McDonald’s Corporation (NYSE:MCD) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,726 shares of the fast-food giant’s stock, valued at approximately $3,981,000.

Other institutional investors have also made changes to their positions in the company. RMB Capital Management LLC acquired a new position in shares of McDonald’s Corporation during the fourth quarter worth approximately $3,741,000. Wealthfront Inc. boosted its position in shares of McDonald’s Corporation by 4.9% in the fourth quarter. Wealthfront Inc. now owns 27,042 shares of the fast-food giant’s stock worth $3,292,000 after buying an additional 1,275 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of McDonald’s Corporation during the fourth quarter worth approximately $648,000. Dodge & Cox acquired a new position in shares of McDonald’s Corporation during the fourth quarter worth approximately $3,001,000. Finally, Israel Discount Bank of New York GFN acquired a new position in shares of McDonald’s Corporation during the fourth quarter worth approximately $1,163,000. 67.52% of the stock is currently owned by institutional investors and hedge funds.

Shares of McDonald’s Corporation (NYSE:MCD) traded up 0.707% on Thursday, reaching $156.015. 615,184 shares of the company traded hands. McDonald’s Corporation has a 52-week low of $110.33 and a 52-week high of $159.98. The firm has a 50-day moving average of $154.69 and a 200-day moving average of $140.24. The company has a market capitalization of $127.16 billion, a PE ratio of 25.539 and a beta of 0.70.

McDonald’s Corporation (NYSE:MCD) last released its quarterly earnings results on Tuesday, July 25th. The fast-food giant reported $1.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.08. McDonald’s Corporation had a negative return on equity of 266.50% and a net margin of 21.00%. The business had revenue of $6.05 billion during the quarter, compared to analyst estimates of $5.96 billion. During the same quarter last year, the company posted $1.45 EPS. McDonald’s Corporation’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities research analysts forecast that McDonald’s Corporation will post $6.55 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, September 1st will be given a $0.94 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.43%. McDonald’s Corporation’s dividend payout ratio (DPR) is 61.54%.

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A number of equities analysts have recently commented on the stock. Credit Suisse Group reaffirmed an “outperform” rating and issued a $170.00 target price (up from $165.00) on shares of McDonald’s Corporation in a report on Wednesday, July 26th. Robert W. Baird set a $170.00 target price on shares of McDonald’s Corporation and gave the company a “buy” rating in a report on Wednesday, July 26th. Stephens reaffirmed an “overweight” rating and issued a $155.00 target price on shares of McDonald’s Corporation in a report on Wednesday, July 26th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $162.00 target price (up from $150.00) on shares of McDonald’s Corporation in a report on Wednesday, July 26th. Finally, Sanford C. Bernstein set a $180.00 target price on shares of McDonald’s Corporation and gave the company a “buy” rating in a report on Wednesday, July 26th. Thirteen investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $162.16.

In other McDonald’s Corporation news, insider Douglas M. Goare sold 17,286 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $158.50, for a total transaction of $2,739,831.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin M. Ozan sold 25,322 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $158.50, for a total value of $4,013,537.00. Following the sale, the chief financial officer now owns 24,039 shares of the company’s stock, valued at $3,810,181.50. The disclosure for this sale can be found here. Insiders sold a total of 54,363 shares of company stock valued at $8,615,125 in the last quarter. 0.24% of the stock is currently owned by corporate insiders.

About McDonald’s Corporation

McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of 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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Institutional Ownership by Quarter for McDonald`s Corporation (NYSE:MCD)

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