Davidson & Garrard Inc. trimmed its stake in McDonald’s Corporation (NYSE:MCD) by 8.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,253 shares of the fast-food giant’s stock after selling 2,602 shares during the quarter. Davidson & Garrard Inc.’s holdings in McDonald’s were worth $4,174,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board lifted its holdings in shares of McDonald’s by 1.0% during the second quarter. Canada Pension Plan Investment Board now owns 449,237 shares of the fast-food giant’s stock valued at $68,805,000 after purchasing an additional 4,300 shares in the last quarter. Legacy Capital Partners Inc. lifted its holdings in shares of McDonald’s by 7.0% during the first quarter. Legacy Capital Partners Inc. now owns 26,154 shares of the fast-food giant’s stock valued at $3,390,000 after purchasing an additional 1,706 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of McDonald’s by 10.6% during the second quarter. Teacher Retirement System of Texas now owns 467,212 shares of the fast-food giant’s stock valued at $71,558,000 after purchasing an additional 44,899 shares in the last quarter. Buckingham Asset Management LLC lifted its holdings in shares of McDonald’s by 157.5% during the second quarter. Buckingham Asset Management LLC now owns 18,973 shares of the fast-food giant’s stock valued at $2,906,000 after purchasing an additional 11,604 shares in the last quarter. Finally, Holderness Investments Co. lifted its holdings in shares of McDonald’s by 323.7% during the first quarter. Holderness Investments Co. now owns 10,589 shares of the fast-food giant’s stock valued at $1,372,000 after purchasing an additional 8,090 shares in the last quarter. 67.40% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the company. BidaskClub raised McDonald’s from a “hold” rating to a “buy” rating in a report on Monday, August 14th. ValuEngine downgraded McDonald’s from a “buy” rating to a “hold” rating in a report on Friday. Bank of America reissued a “buy” rating and issued a $175.00 target price on shares of McDonald’s in a report on Monday, August 14th. Nomura set a $183.00 target price on McDonald’s and gave the company a “buy” rating in a report on Tuesday, October 17th. Finally, Longbow Research raised McDonald’s from a “neutral” rating to a “buy” rating and increased their target price for the company from $154.05 to $183.00 in a report on Thursday, September 28th. Eleven analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. McDonald’s presently has an average rating of “Buy” and a consensus price target of $171.95.
Shares of McDonald’s Corporation (MCD) traded down $2.22 on Monday, reaching $170.65. The company’s stock had a trading volume of 3,943,090 shares, compared to its average volume of 3,476,107. The company has a debt-to-equity ratio of -8.17, a quick ratio of 1.27 and a current ratio of 1.28. The stock has a market capitalization of $138,230.00, a PE ratio of 27.01, a price-to-earnings-growth ratio of 2.83 and a beta of 0.67. McDonald’s Corporation has a fifty-two week low of $118.18 and a fifty-two week high of $173.48.
McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 24th. The fast-food giant reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.01. McDonald’s had a negative return on equity of 216.45% and a net margin of 24.19%. The firm had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.75 billion. During the same quarter last year, the business posted $1.62 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. equities research analysts forecast that McDonald’s Corporation will post 6.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $4.04 annualized dividend and a dividend yield of 2.37%. This is a boost from McDonald’s’s previous quarterly dividend of $0.94. McDonald’s’s dividend payout ratio (DPR) is currently 58.30%.
In other McDonald’s news, VP James R. Sappington sold 8,046 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $165.00, for a total transaction of $1,327,590.00. Following the completion of the transaction, the vice president now owns 15,739 shares in the company, valued at approximately $2,596,935. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Easterbrook sold 171,577 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $168.32, for a total value of $28,879,840.64. Following the transaction, the insider now owns 49,778 shares of the company’s stock, valued at approximately $8,378,632.96. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
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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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