Virginia Retirement Systems ET AL cut its holdings in Mcdonald’s Corp (NYSE:MCD) by 6.7% in the 1st quarter, Holdings Channel reports. The firm owned 92,600 shares of the fast-food giant’s stock after selling 6,700 shares during the period. Virginia Retirement Systems ET AL’s holdings in Mcdonald’s were worth $17,585,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of MCD. Ruggie Capital Group lifted its stake in Mcdonald’s by 3,020.0% in the fourth quarter. Ruggie Capital Group now owns 156 shares of the fast-food giant’s stock worth $28,000 after purchasing an additional 151 shares during the last quarter. Gantzert Investment Co. LLC ADV bought a new stake in Mcdonald’s in the fourth quarter worth $31,000. Aspire Private Capital LLC bought a new stake in Mcdonald’s in the fourth quarter worth $32,000. Focused Wealth Management Inc lifted its stake in Mcdonald’s by 4,500.0% in the fourth quarter. Focused Wealth Management Inc now owns 184 shares of the fast-food giant’s stock worth $33,000 after purchasing an additional 180 shares during the last quarter. Finally, Canton Hathaway LLC bought a new stake in Mcdonald’s in the first quarter worth $35,000. 67.76% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Mcdonald’s from $190.00 to $200.00 and gave the stock an “average” rating in a research note on Friday. They noted that the move was a valuation call. Evercore ISI initiated coverage on shares of Mcdonald’s in a research note on Tuesday. They set an “outperform” rating and a $225.00 price objective for the company. UBS Group upped their price objective on shares of Mcdonald’s from $185.00 to $203.00 and gave the company a “neutral” rating in a research note on Tuesday. Bank of America upped 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. Finally, Mizuho upped their price objective on shares of Mcdonald’s from $204.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Seven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Mcdonald’s has an average rating of “Buy” and an average price target of $205.36.
Shares of NYSE MCD traded up $0.20 during midday trading on Friday, hitting $204.69. 1,079,794 shares of the company traded hands, compared to its average volume of 3,023,813. Mcdonald’s Corp has a 12-month low of $153.13 and a 12-month high of $206.39. The stock has a market capitalization of $156.84 billion, a P/E ratio of 25.91, a P/E/G ratio of 2.87 and a beta of 0.50.
Mcdonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.01). Mcdonald’s had a net margin of 28.20% and a negative return on equity of 95.31%. The company had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.94 billion. During the same quarter in the prior year, the firm earned $1.79 EPS. Mcdonald’s’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Mcdonald’s Corp will post 8.04 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Friday, May 31st. Mcdonald’s’s dividend payout ratio is currently 58.73%.
In other Mcdonald’s news, CFO Kevin M. Ozan sold 40,930 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $195.90, for a total value of $8,018,187.00. Following the sale, the chief financial officer now owns 42,647 shares in the company, valued at $8,354,547.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher J. Kempczinski sold 38,729 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 11,658 shares in the company, valued at approximately $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 in the last quarter. 0.25% of the stock is owned by corporate insiders.
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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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