Inverness Counsel LLC NY Sells 30,384 Shares of McDonald’s Corporation (MCD)

Inverness Counsel LLC NY trimmed its stake in McDonald’s Corporation (NYSE:MCD) by 29.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 73,472 shares of the fast-food giant’s stock after selling 30,384 shares during the quarter. Inverness Counsel LLC NY’s holdings in McDonald’s Corporation were worth $11,253,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Legacy Capital Partners Inc. lifted its stake in McDonald’s Corporation by 7.0% in the first quarter. Legacy Capital Partners Inc. now owns 26,154 shares of the fast-food giant’s stock valued at $3,390,000 after buying an additional 1,706 shares during the last quarter. Holderness Investments Co. lifted its stake in McDonald’s Corporation by 323.7% in the first quarter. Holderness Investments Co. now owns 10,589 shares of the fast-food giant’s stock valued at $1,372,000 after buying an additional 8,090 shares during the last quarter. Oakworth Capital Inc. lifted its stake in McDonald’s Corporation by 7.7% in the first quarter. Oakworth Capital Inc. now owns 4,977 shares of the fast-food giant’s stock valued at $645,000 after buying an additional 355 shares during the last quarter. Cypress Asset Management Inc. TX lifted its stake in McDonald’s Corporation by 136.4% in the second quarter. Cypress Asset Management Inc. TX now owns 28,274 shares of the fast-food giant’s stock valued at $4,330,000 after buying an additional 16,315 shares during the last quarter. Finally, Bridges Investment Counsel Inc. lifted its stake in McDonald’s Corporation by 69.6% in the second quarter. Bridges Investment Counsel Inc. now owns 41,842 shares of the fast-food giant’s stock valued at $6,409,000 after buying an additional 17,173 shares during the last quarter. Institutional investors own 67.92% of the company’s stock.

In related news, insider Douglas M. Goare sold 17,286 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $158.50, for a total transaction of $2,739,831.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin M. Ozan sold 25,322 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $158.50, for a total value of $4,013,537.00. Following the transaction, the chief financial officer now owns 24,039 shares of the company’s stock, valued at $3,810,181.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,938 shares of company stock valued at $11,033,009. 0.24% of the stock is owned by corporate insiders.

COPYRIGHT VIOLATION WARNING: “Inverness Counsel LLC NY Sells 30,384 Shares of McDonald’s Corporation (MCD)” was first posted by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://stocknewstimes.com/2017/09/23/inverness-counsel-llc-ny-sells-30384-shares-of-mcdonalds-corporation-mcd.html.

A number of equities research analysts have issued reports on the company. Jefferies Group LLC reiterated a “hold” rating and issued a $140.00 target price on shares of McDonald’s Corporation in a research note on Wednesday, July 19th. Longbow Research reiterated a “neutral” rating on shares of McDonald’s Corporation in a research note on Saturday, July 22nd. Bank of America Corporation restated a “buy” rating and set a $175.00 price objective on shares of McDonald’s Corporation in a research note on Monday, August 14th. Barclays PLC set a $164.00 price objective on shares of McDonald’s Corporation and gave the company a “buy” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research cut shares of McDonald’s Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Twelve investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $162.26.

Shares of McDonald’s Corporation (MCD) opened at 158.91 on Friday. The company has a market cap of $128.72 billion, a PE ratio of 26.01 and a beta of 0.70. McDonald’s Corporation has a 52 week low of $110.33 and a 52 week high of $161.72. The company has a 50 day moving average price of $157.70 and a 200 day moving average price of $147.07.

McDonald’s Corporation (NYSE:MCD) last posted its quarterly earnings data on Tuesday, July 25th. The fast-food giant reported $1.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.08. The business had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $5.96 billion. McDonald’s Corporation had a negative return on equity of 264.89% and a net margin of 21.00%. McDonald’s Corporation’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period last year, the company earned $1.45 earnings per share. On average, equities analysts expect that McDonald’s Corporation will post $6.55 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $1.01 per share. The ex-dividend date is Thursday, November 30th. This is an increase from McDonald’s Corporation’s previous quarterly dividend of $0.94. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.54%. McDonald’s Corporation’s dividend payout ratio (DPR) is presently 61.54%.

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.

Institutional Ownership by Quarter for McDonald`s Corporation (NYSE:MCD)

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.

Latest News

Leave a Reply