Forsta AP Fonden lessened its position in shares of Mcdonald’s Corp (NYSE:MCD) by 23.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,235 shares of the fast-food giant’s stock after selling 10,900 shares during the quarter. Forsta AP Fonden’s holdings in Mcdonald’s were worth $5,521,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in MCD. Rainier Group Investment Advisory LLC purchased a new stake in Mcdonald’s in the first quarter valued at approximately $102,000. Elmwood Wealth Management Inc. purchased a new stake in Mcdonald’s in the first quarter valued at approximately $104,000. CSat Investment Advisory L.P. purchased a new stake in Mcdonald’s in the second quarter valued at approximately $104,000. CX Institutional purchased a new stake in Mcdonald’s in the second quarter valued at approximately $109,000. Finally, Quad Cities Investment Group LLC purchased a new stake in Mcdonald’s in the second quarter valued at approximately $110,000. 66.99% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:MCD opened at $160.84 on Monday. The firm has a market capitalization of $127.81 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 2.45 and a beta of 0.66. The company has a debt-to-equity ratio of -5.24, a current ratio of 1.47 and a quick ratio of 1.45. Mcdonald’s Corp has a 52 week low of $146.84 and a 52 week high of $178.70.
Mcdonald’s (NYSE:MCD) last posted its quarterly earnings results on Thursday, July 26th. The fast-food giant reported $1.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.07. The business had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.32 billion. Mcdonald’s had a net margin of 25.26% and a negative return on equity of 133.89%. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.73 earnings per share. sell-side analysts anticipate that Mcdonald’s Corp will post 7.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th will be paid a dividend of $1.01 per share. The ex-dividend date is Friday, August 31st. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.51%. Mcdonald’s’s payout ratio is currently 60.66%.
MCD has been the topic of a number of research analyst reports. Royal Bank of Canada set a $175.00 target price on Mcdonald’s and gave the company a “buy” rating in a research report on Thursday, July 26th. Goldman Sachs Group reissued a “buy” rating and issued a $178.00 target price on shares of Mcdonald’s in a research report on Tuesday, July 24th. Jefferies Financial Group reissued a “buy” rating and issued a $200.00 target price on shares of Mcdonald’s in a research report on Wednesday, July 11th. Wells Fargo & Co reissued a “buy” rating and issued a $185.00 target price on shares of Mcdonald’s in a research report on Thursday, June 21st. Finally, Nomura raised Mcdonald’s from a “neutral” rating to a “buy” rating and set a $191.00 target price on the stock in a research report on Thursday, June 7th. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Mcdonald’s has an average rating of “Buy” and an average price target of $182.29.
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, 2017, the company operated 37,241 restaurants, including 34,108 franchised restaurants comprising 21,366 franchised to conventional franchisees, 6,945 licensed to developmental licensees, and 5,797 licensed to foreign affiliates; and 3,133 company-operated restaurants.
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