Torch Wealth Management LLC reduced its stake in shares of McDonald's Co. (NYSE:MCD) by 2.6% during the 4th quarter, Holdings Channel reports. The firm owned 14,634 shares of the fast-food giant’s stock after selling 385 shares during the quarter. McDonald's comprises about 1.5% of Torch Wealth Management LLC’s holdings, making the stock its 18th largest position. Torch Wealth Management LLC’s holdings in McDonald's were worth $2,519,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Horan Capital Advisors LLC. bought a new position in McDonald's in the third quarter valued at approximately $104,000. Phocas Financial Corp. bought a new position in McDonald's in the second quarter valued at approximately $107,000. Tarbox Family Office Inc. boosted its stake in McDonald's by 105.8% in the fourth quarter. Tarbox Family Office Inc. now owns 638 shares of the fast-food giant’s stock valued at $110,000 after acquiring an additional 328 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in McDonald's by 219.2% in the third quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 830 shares of the fast-food giant’s stock valued at $130,000 after acquiring an additional 570 shares during the last quarter. Finally, Howe & Rusling Inc. boosted its stake in McDonald's by 75.0% in the third quarter. Howe & Rusling Inc. now owns 840 shares of the fast-food giant’s stock valued at $132,000 after acquiring an additional 360 shares during the last quarter. 68.59% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the stock. Credit Suisse Group reaffirmed an “outperform” rating and issued a $175.00 price objective (down from $191.00) on shares of McDonald's in a research note on Tuesday, March 6th. BMO Capital Markets reissued a “buy” rating and set a $190.00 price target on shares of McDonald's in a research report on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $170.00 price target on shares of McDonald's in a research report on Monday. Zacks Investment Research cut shares of McDonald's from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $182.00 price target on shares of McDonald's in a research report on Monday. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. McDonald's presently has a consensus rating of “Buy” and a consensus target price of $183.02.
McDonald's (NYSE:MCD) last released its quarterly earnings data on Tuesday, January 30th. The fast-food giant reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.12. The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.22 billion. McDonald's had a net margin of 22.75% and a negative return on equity of 201.76%. McDonald's’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.44 EPS. equities research analysts anticipate that McDonald's Co. will post 7.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $4.04 annualized dividend and a dividend yield of 2.55%. McDonald's’s dividend payout ratio is presently 63.52%.
In related news, VP Catherine A. Hoovel sold 1,398 shares of McDonald's stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $170.54, for a total transaction of $238,414.92. Following the completion of the sale, the vice president now owns 1,398 shares of the company’s stock, valued at approximately $238,414.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas M. Goare sold 34,575 shares of McDonald's stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $173.53, for a total transaction of $5,999,799.75. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.
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McDonald's Company Profile
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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