Gilman Hill Asset Management LLC reduced its position in Mcdonald’s Corp (NYSE:MCD) by 5.6% in the first quarter, HoldingsChannel.com reports. The firm owned 2,294 shares of the fast-food giant’s stock after selling 137 shares during the period. Gilman Hill Asset Management LLC’s holdings in Mcdonald’s were worth $436,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Ruggie Capital Group raised its stake in shares of Mcdonald’s by 3,020.0% in the fourth quarter. Ruggie Capital Group now owns 156 shares of the fast-food giant’s stock valued at $28,000 after acquiring an additional 151 shares during the period. Gantzert Investment Co. LLC ADV purchased a new position in Mcdonald’s in the 4th quarter worth about $31,000. Aspire Private Capital LLC purchased a new position in Mcdonald’s in the 4th quarter worth about $32,000. Focused Wealth Management Inc increased its stake in Mcdonald’s by 4,500.0% in the 4th quarter. Focused Wealth Management Inc now owns 184 shares of the fast-food giant’s stock worth $33,000 after buying an additional 180 shares during the period. Finally, Canton Hathaway LLC purchased a new position in Mcdonald’s in the 1st quarter worth about $35,000. Institutional investors and hedge funds own 67.76% of the company’s stock.
Shares of NYSE:MCD opened at $203.26 on Wednesday. The stock has a market cap of $156.90 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 2.88 and a beta of 0.50. Mcdonald’s Corp has a 1 year low of $153.13 and a 1 year high of $206.39.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a yield of 2.28%. Mcdonald’s’s dividend payout ratio (DPR) is presently 58.73%.
In related news, insider Ian Frederick Borden sold 4,149 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $199.22, for a total transaction of $826,563.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher J. Kempczinski sold 38,729 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $195.21, for a total transaction of $7,560,288.09. Following the sale, the insider now owns 11,658 shares in the company, valued at $2,275,758.18. The disclosure for this sale can be found here. Insiders have sold 104,449 shares of company stock worth $20,458,931 over the last quarter. Insiders own 0.25% of the company’s stock.
Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of Mcdonald’s from a “hold” rating to a “sell” rating in a report on Tuesday, April 2nd. UBS Group lifted their target price on shares of Mcdonald’s from $185.00 to $203.00 and gave the stock a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of Mcdonald’s from $182.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Bank of America lifted their target price on shares of Mcdonald’s from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Finally, Evercore ISI initiated coverage on shares of Mcdonald’s in a research report on Tuesday. They set an “outperform” rating and a $203.26 price target on the stock. Seven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Mcdonald’s presently has a consensus rating of “Buy” and a consensus target price of $203.65.
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Mcdonald’s Company Profile
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2018, the company operated 37,855 restaurants, including 35,085 franchised restaurants comprising 21,685 franchised to conventional franchisees, 7,225 licensed to developmental licensees, and 6,175 licensed to foreign affiliates; and 2,770 company-operated restaurants.
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