Jennison Associates LLC reduced its position in Mcdonald’s Corp (NYSE:MCD) by 1.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 560,457 shares of the fast-food giant’s stock after selling 10,508 shares during the period. Jennison Associates LLC owned about 0.07% of Mcdonald’s worth $116,385,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in MCD. Litman Gregory Asset Management LLC purchased a new stake in Mcdonald’s in the 2nd quarter worth approximately $27,000. Atlas Capital Advisors LLC grew its stake in Mcdonald’s by 330.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 142 shares of the fast-food giant’s stock worth $29,000 after acquiring an additional 109 shares during the period. Aspire Private Capital LLC purchased a new stake in Mcdonald’s in the 4th quarter worth approximately $32,000. Westside Investment Management Inc. purchased a new stake in Mcdonald’s in the 2nd quarter worth approximately $34,000. Finally, Canton Hathaway LLC purchased a new stake in shares of Mcdonald’s during the 1st quarter valued at $35,000. 68.25% of the stock is owned by hedge funds and other institutional investors.
In other Mcdonald’s news, EVP Silvia Lagnado sold 26,649 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $212.58, for a total value of $5,665,044.42. Following the transaction, the executive vice president now owns 40,129 shares in the company, valued at approximately $8,530,622.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Catherine A. Hoovel sold 457 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $218.15, for a total transaction of $99,694.55. Following the completion of the transaction, the vice president now owns 1,348 shares in the company, valued at approximately $294,066.20. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
Mcdonald’s (NYSE:MCD) last issued its quarterly earnings data on Friday, July 26th. The fast-food giant reported $2.05 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). Mcdonald’s had a negative return on equity of 92.02% and a net margin of 28.32%. The firm had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same quarter in the prior year, the firm earned $1.99 EPS. The business’s quarterly revenue was down .2% compared to the same quarter last year. As a group, research analysts anticipate that Mcdonald’s Corp will post 8.01 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $1.16 dividend. The ex-dividend date is Friday, August 30th. This represents a $4.64 dividend on an annualized basis and a yield of 2.16%. Mcdonald’s’s dividend payout ratio is currently 58.73%.
Several brokerages have recently issued reports on MCD. Evercore ISI began coverage on shares of Mcdonald’s in a research note on Tuesday, June 11th. They set an “outperform” rating and a $225.00 price objective for the company. Bank of America boosted their price objective on shares of Mcdonald’s from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Cowen boosted their price objective on shares of Mcdonald’s from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Cleveland Research reissued a “hold” rating on shares of Mcdonald’s in a research note on Friday, July 12th. Finally, Wells Fargo & Co boosted their price objective on shares of Mcdonald’s from $235.00 to $237.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Eight research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $220.55.
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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