Jarislowsky Fraser Ltd decreased its position in shares of McDonald’s Corporation (NYSE:MCD) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 46,968 shares of the fast-food giant’s stock after selling 170 shares during the period. Jarislowsky Fraser Ltd’s holdings in McDonald’s Corporation were worth $7,193,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of McDonald’s Corporation during the fourth quarter worth about $960,307,000. Janus Capital Management LLC raised its stake in McDonald’s Corporation by 0.3% in the fourth quarter. Janus Capital Management LLC now owns 4,769,935 shares of the fast-food giant’s stock valued at $580,597,000 after buying an additional 13,474 shares in the last quarter. Legal & General Group Plc raised its stake in McDonald’s Corporation by 4.6% in the first quarter. Legal & General Group Plc now owns 4,241,304 shares of the fast-food giant’s stock valued at $549,720,000 after buying an additional 187,324 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in McDonald’s Corporation by 4.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 3,882,107 shares of the fast-food giant’s stock valued at $503,160,000 after buying an additional 174,209 shares in the last quarter. Finally, Swiss National Bank raised its stake in McDonald’s Corporation by 18.0% in the first quarter. Swiss National Bank now owns 3,653,548 shares of the fast-food giant’s stock valued at $473,536,000 after buying an additional 558,300 shares in the last quarter. 67.66% of the stock is owned by hedge funds and other institutional investors.
McDonald’s Corporation (MCD) opened at 155.85 on Friday. McDonald’s Corporation has a 12-month low of $110.33 and a 12-month high of $156.75. The firm has a 50-day moving average of $153.88 and a 200 day moving average of $138.34. The company has a market capitalization of $127.03 billion, a PE ratio of 25.51 and a beta of 0.70.
McDonald’s Corporation (NYSE:MCD) last announced its quarterly earnings data on Tuesday, July 25th. The fast-food giant reported $1.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.08. The company had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.96 billion. McDonald’s Corporation had a net margin of 21.00% and a negative return on equity of 266.50%. McDonald’s Corporation’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.45 EPS. Analysts forecast that McDonald’s Corporation will post $6.52 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, September 1st will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Wednesday, August 30th. McDonald’s Corporation’s dividend payout ratio (DPR) is presently 61.54%.
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Several equities research analysts have recently weighed in on MCD shares. Nomura raised their price objective on McDonald’s Corporation from $136.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, April 20th. Vetr raised McDonald’s Corporation from a “sell” rating to a “buy” rating and set a $145.38 price objective for the company in a research note on Tuesday, April 18th. Deutsche Bank AG restated a “buy” rating and issued a $155.00 target price on shares of McDonald’s Corporation in a report on Wednesday, April 26th. Instinet restated a “buy” rating and issued a $146.00 target price (up previously from $136.00) on shares of McDonald’s Corporation in a report on Saturday, April 22nd. Finally, Cleveland Research upgraded McDonald’s Corporation from a “neutral” rating to a “buy” rating in a report on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $161.74.
In other news, CFO Kevin M. Ozan sold 25,322 shares of McDonald’s Corporation stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $158.50, for a total transaction of $4,013,537.00. Following the sale, the chief financial officer now owns 24,039 shares in the company, valued at $3,810,181.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jerome N. Krulewitch sold 11,755 shares of McDonald’s Corporation stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $158.38, for a total transaction of $1,861,756.90. Following the sale, the executive vice president now owns 11,755 shares in the company, valued at approximately $1,861,756.90. The disclosure for this sale can be found here. Insiders sold a total of 54,363 shares of company stock worth $8,615,125 in the last quarter. Company insiders own 0.24% of the company’s stock.
About McDonald’s Corporation
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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