Visionary Asset Management Inc. bought a new position in shares of McDonald’s Corporation (NYSE:MCD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,732 shares of the fast-food giant’s stock, valued at approximately $418,000.
A number of other hedge funds have also recently modified their holdings of MCD. Norges Bank purchased a new stake in shares of McDonald’s Corporation during the fourth quarter worth approximately $960,307,000. Legal & General Group Plc raised its stake in shares of 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 worth $549,720,000 after buying an additional 187,324 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of 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 worth $503,160,000 after buying an additional 174,209 shares during the last quarter. Swiss National Bank raised its stake in shares of 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 worth $473,536,000 after buying an additional 558,300 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of McDonald’s Corporation by 26.3% in the second quarter. Bank of Montreal Can now owns 1,894,258 shares of the fast-food giant’s stock worth $290,125,000 after buying an additional 393,881 shares during the last quarter. 67.55% of the stock is owned by institutional investors and hedge funds.
McDonald’s Corporation (MCD) traded down 0.580% during mid-day trading on Friday, hitting $153.822. 1,473,292 shares of the stock were exchanged. The firm has a market capitalization of $125.38 billion, a price-to-earnings ratio of 25.180 and a beta of 0.70. The company’s 50-day moving average price is $154.15 and its 200 day moving average price is $139.07. McDonald’s Corporation has a 52 week low of $110.33 and a 52 week high of $159.98.
McDonald’s Corporation (NYSE:MCD) last released its quarterly earnings data on Tuesday, July 25th. The fast-food giant reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.08. The company had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $5.96 billion. McDonald’s Corporation had a net margin of 21.00% and a negative return on equity of 266.50%. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.45 EPS. Equities research analysts expect that McDonald’s Corporation will post $6.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 1st will be given a $0.94 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.76 annualized dividend and a yield of 2.43%. McDonald’s Corporation’s dividend payout ratio (DPR) is 61.54%.
MCD has been the subject of a number of recent research reports. BTIG Research boosted their price objective on McDonald’s Corporation from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, June 29th. Barclays PLC boosted their price objective on McDonald’s Corporation from $139.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. Sanford C. Bernstein reissued an “outperform” rating and set a $170.00 price objective (up from $160.00) on shares of McDonald’s Corporation in a report on Thursday, May 25th. Piper Jaffray Companies reissued a “buy” rating and set a $153.00 price objective on shares of McDonald’s Corporation in a report on Friday, July 14th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $140.00 price objective on shares of McDonald’s Corporation in a report on Wednesday, July 19th. Fourteen equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. McDonald’s Corporation presently has a consensus rating of “Buy” and a consensus target price of $162.16.
In other McDonald’s Corporation news, CFO Kevin M. Ozan sold 25,322 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $158.50, for a total value of $4,013,537.00. Following the completion of the sale, the chief financial officer now directly owns 24,039 shares of the company’s stock, valued at approximately $3,810,181.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas M. Goare sold 17,286 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $158.50, for a total transaction of $2,739,831.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,363 shares of company stock valued at $8,615,125. 0.24% of the stock is owned by corporate insiders.
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.
Receive News & Ratings for McDonald's Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDonald's Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
