Hayek Kallen Investment Management lowered its position in Mcdonald’s Corp (NYSE:MCD) by 0.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,347 shares of the fast-food giant’s stock after selling 62 shares during the quarter. Mcdonald’s accounts for approximately 1.9% of Hayek Kallen Investment Management’s investment portfolio, making the stock its 22nd largest position. Hayek Kallen Investment Management’s holdings in Mcdonald’s were worth $3,080,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in MCD. Krane Funds Advisors LLC acquired a new stake in Mcdonald’s during the 2nd quarter valued at approximately $25,000. Litman Gregory Asset Management LLC acquired a new stake in Mcdonald’s during the 2nd quarter valued at approximately $27,000. Garrett Wealth Advisory Group LLC acquired a new stake in Mcdonald’s during the 3rd quarter valued at approximately $30,000. Atlas Capital Advisors LLC increased its position in Mcdonald’s by 330.3% during the 2nd quarter. Atlas Capital Advisors LLC now owns 142 shares of the fast-food giant’s stock valued at $29,000 after purchasing an additional 109 shares during the period. Finally, Westside Investment Management Inc. acquired a new stake in shares of Mcdonald’s during the 2nd quarter worth approximately $34,000. 67.91% of the stock is owned by institutional investors.
Shares of MCD traded up $0.53 during trading hours on Friday, reaching $193.61. The stock had a trading volume of 3,457,071 shares, compared to its average volume of 3,371,192. Mcdonald’s Corp has a 12 month low of $169.04 and a 12 month high of $221.93. The firm has a 50-day simple moving average of $204.71 and a 200 day simple moving average of $207.29. The company has a market capitalization of $144.73 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 3.04 and a beta of 0.48.
Mcdonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 22nd. The fast-food giant reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.10). Mcdonald’s had a negative return on equity of 85.71% and a net margin of 28.09%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the prior year, the business earned $2.10 earnings per share. Mcdonald’s’s revenue for the quarter was up 1.1% on a year-over-year basis. Sell-side analysts expect that Mcdonald’s Corp will post 7.87 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.25 dividend. This is a boost from Mcdonald’s’s previous quarterly dividend of $1.16. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, November 29th. Mcdonald’s’s dividend payout ratio (DPR) is currently 58.73%.
In related news, CEO Christopher J. Kempczinski acquired 2,580 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were acquired at an average cost of $193.81 per share, for a total transaction of $500,029.80. Following the purchase, the chief executive officer now owns 2,580 shares in the company, valued at $500,029.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John J. Mulligan acquired 1,300 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were bought at an average price of $193.46 per share, for a total transaction of $251,498.00. Following the completion of the purchase, the director now owns 2,900 shares in the company, valued at approximately $561,034. The disclosure for this purchase can be found here. 0.25% of the stock is owned by company insiders.
Several brokerages have recently commented on MCD. Wells Fargo & Co reduced their price objective on shares of Mcdonald’s from $235.00 to $222.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Credit Suisse Group reduced their price objective on shares of Mcdonald’s from $236.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Telsey Advisory Group reduced their price objective on shares of Mcdonald’s from $230.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Stephens set a $230.00 price objective on shares of Mcdonald’s and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Piper Jaffray Companies downgraded shares of Mcdonald’s from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $224.00 to $195.00 in a research report on Monday, November 4th. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Mcdonald’s currently has a consensus rating of “Buy” and a consensus target price of $222.96.
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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