Evercore Wealth Management LLC Raises Stock Position in Mcdonald’s Corp (NYSE:MCD)

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Evercore Wealth Management LLC lifted its position in Mcdonald’s Corp (NYSE:MCD) by 19.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,501 shares of the fast-food giant’s stock after buying an additional 5,746 shares during the period. Evercore Wealth Management LLC’s holdings in Mcdonald’s were worth $7,372,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of MCD. First Command Financial Services Inc. lifted its stake in Mcdonald’s by 2.7% during the 2nd quarter. First Command Financial Services Inc. now owns 1,857 shares of the fast-food giant’s stock valued at $386,000 after acquiring an additional 48 shares during the period. Graves Light Private Wealth Management Inc. lifted its stake in Mcdonald’s by 1.5% during the 2nd quarter. Graves Light Private Wealth Management Inc. now owns 3,428 shares of the fast-food giant’s stock valued at $712,000 after acquiring an additional 49 shares during the period. Gilman Hill Asset Management LLC lifted its stake in Mcdonald’s by 2.2% during the 2nd quarter. Gilman Hill Asset Management LLC now owns 2,344 shares of the fast-food giant’s stock valued at $487,000 after acquiring an additional 50 shares during the period. Duncker Streett & Co. Inc. lifted its stake in Mcdonald’s by 1.9% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 2,698 shares of the fast-food giant’s stock valued at $560,000 after acquiring an additional 50 shares during the period. Finally, Legacy Private Trust Co. lifted its stake in Mcdonald’s by 1.1% during the 2nd quarter. Legacy Private Trust Co. now owns 4,678 shares of the fast-food giant’s stock valued at $971,000 after acquiring an additional 52 shares during the period. 67.70% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:MCD opened at $209.81 on Friday. The company has a fifty day moving average of $216.65 and a two-hundred day moving average of $202.11. The stock has a market capitalization of $161.12 billion, a PE ratio of 27.06, a P/E/G ratio of 3.15 and a beta of 0.49. Mcdonald’s Corp has a fifty-two week low of $156.56 and a fifty-two week high of $221.93.

Mcdonald’s (NYSE:MCD) last posted its quarterly earnings data on Friday, July 26th. The fast-food giant reported $2.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.01). The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.34 billion. Mcdonald’s had a negative return on equity of 92.02% and a net margin of 28.32%. The business’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.99 earnings per share. Equities research analysts predict that Mcdonald’s Corp will post 8.01 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Friday, August 30th. Mcdonald’s’s dividend payout ratio is presently 58.73%.

Several analysts have commented on MCD shares. Jefferies Financial Group lifted their price objective on shares of Mcdonald’s from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Wells Fargo & Co lifted 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. Barclays set a $230.00 price objective on shares of Mcdonald’s and gave the company a “buy” rating in a research note on Friday, July 26th. Stephens lifted their price objective on shares of Mcdonald’s from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Cleveland Research restated a “hold” rating on shares of Mcdonald’s in a research note on Friday, July 12th. Eight investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $220.55.

In other Mcdonald’s news, EVP Silvia Lagnado sold 26,649 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $212.58, for a total transaction of $5,665,044.42. Following the completion of the transaction, the executive vice president now directly owns 40,129 shares in the company, valued at $8,530,622.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Catherine A. Hoovel sold 457 shares of the company’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 transaction, the vice president now owns 1,348 shares of the company’s stock, valued at $294,066.20. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

About Mcdonald’s

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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Institutional Ownership by Quarter for Mcdonald`s (NYSE:MCD)

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