Patten & Patten Inc. TN increased its stake in shares of McDonald’s Corporation (NYSE:MCD) by 31.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,991 shares of the fast-food giant’s stock after buying an additional 1,900 shares during the period. Patten & Patten Inc. TN’s holdings in McDonald’s Corporation were worth $1,224,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Orrstown Financial Services Inc. increased its position in McDonald’s Corporation by 17.2% in the second quarter. Orrstown Financial Services Inc. now owns 709 shares of the fast-food giant’s stock valued at $108,000 after buying an additional 104 shares in the last quarter. Proficio Capital Partners LLC increased its position in McDonald’s Corporation by 87.8% in the first quarter. Proficio Capital Partners LLC now owns 740 shares of the fast-food giant’s stock valued at $111,000 after buying an additional 346 shares in the last quarter. Vigilant Capital Management LLC increased its position in McDonald’s Corporation by 9.4% in the first quarter. Vigilant Capital Management LLC now owns 977 shares of the fast-food giant’s stock valued at $127,000 after buying an additional 84 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. bought a new position in McDonald’s Corporation during the fourth quarter valued at about $131,000. Finally, Signature Estate & Investment Advisors LLC bought a new position in McDonald’s Corporation during the first quarter valued at about $146,000. Institutional investors own 67.55% of the company’s stock.
McDonald’s Corporation (MCD) traded down 0.58% during mid-day trading on Friday, hitting $153.82. 4,435,402 shares of the stock traded hands. The firm has a market cap of $125.37 billion, a PE ratio of 25.18 and a beta of 0.70. The stock has a 50 day moving average price of $154.15 and a 200 day moving average price of $139.07. McDonald’s Corporation has a 12-month low of $110.33 and a 12-month high of $159.98.
McDonald’s Corporation (NYSE:MCD) last released its earnings results on Tuesday, July 25th. The fast-food giant reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.08. McDonald’s Corporation had a net margin of 21.00% and a negative return on equity of 266.50%. The business had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.96 billion. During the same period in the previous year, the firm earned $1.45 EPS. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, analysts expect that McDonald’s Corporation will post $6.55 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, September 1st will be issued a $0.94 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.44%. McDonald’s Corporation’s payout ratio is currently 61.54%.
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Several equities analysts have issued reports on MCD shares. Nomura upped their price objective on shares of McDonald’s Corporation from $136.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, April 20th. Vetr upgraded shares of 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 price objective on shares of McDonald’s Corporation in a research note on Wednesday, April 26th. Instinet restated a “buy” rating and issued a $146.00 price objective (up previously from $136.00) on shares of McDonald’s Corporation in a research note on Saturday, April 22nd. Finally, Cleveland Research upgraded shares of McDonald’s Corporation from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 11th. Thirteen investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $162.16.
In related news, CFO Kevin M. Ozan sold 25,322 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 24,039 shares in the company, valued at approximately $3,810,181.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas M. Goare sold 17,286 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was 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. Insiders sold a total of 54,363 shares of company stock worth $8,615,125 over the last quarter. 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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