Highland Capital Management LLC Increases Position in McDonald’s Corporation (NYSE:MCD)
Highland Capital Management LLC boosted its position in shares of McDonald’s Corporation (NYSE:MCD) by 280.5% during the second quarter, Holdings Channel reports. The fund owned 9,017 shares of the fast-food giant’s stock after buying an additional 6,647 shares during the period. Highland Capital Management LLC’s holdings in McDonald’s Corporation were worth $1,381,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the stock. Orrstown Financial Services Inc. raised 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 worth $108,000 after buying an additional 104 shares during the period. Proficio Capital Partners LLC raised 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 worth $111,000 after buying an additional 346 shares during the period. Vigilant Capital Management LLC raised 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 worth $127,000 after buying an additional 84 shares during the period. Thomas J. Herzfeld Advisors Inc. bought a new position in McDonald’s Corporation during the fourth quarter worth about $131,000. Finally, Signature Estate & Investment Advisors LLC bought a new position in McDonald’s Corporation during the first quarter worth about $146,000. 67.52% of the stock is owned by institutional investors and hedge funds.
McDonald’s Corporation (MCD) traded down 0.48% during trading on Tuesday, reaching $154.23. The company’s stock had a trading volume of 1,276,035 shares. McDonald’s Corporation has a 52 week low of $110.33 and a 52 week high of $159.98. The firm has a 50 day moving average of $154.15 and a 200 day moving average of $139.07. The stock has a market capitalization of $125.71 billion, a price-to-earnings ratio of 25.25 and a beta of 0.70.
McDonald’s Corporation (NYSE:MCD) last announced its quarterly earnings results on Tuesday, July 25th. The fast-food giant reported $1.70 EPS for the quarter, beating the consensus estimate 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 company had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.96 billion. During the same quarter last year, the business earned $1.45 earnings per share. McDonald’s Corporation’s revenue was down 3.4% compared to the same quarter last year. Analysts expect that McDonald’s Corporation will post $6.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 1st will be paid a $0.94 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.76 annualized dividend and a dividend yield of 2.43%. McDonald’s Corporation’s payout ratio is currently 61.54%.
COPYRIGHT VIOLATION WARNING: This article was posted by Daily Political and is the sole property of of Daily Political. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://www.dailypolitical.com/2017/08/08/highland-capital-management-llc-increases-position-in-mcdonalds-corporation-nysemcd.html.
A number of research analysts recently issued reports on MCD shares. Nomura set a $172.00 target price on McDonald’s Corporation and gave the company a “buy” rating in a report on Wednesday, July 19th. Wells Fargo & Company reiterated an “outperform” rating and issued a $175.00 target price (up from $165.00) on shares of McDonald’s Corporation in a report on Monday, June 26th. Royal Bank Of Canada set a $170.00 target price on McDonald’s Corporation and gave the company a “buy” rating in a report on Thursday, June 22nd. Cleveland Research upgraded McDonald’s Corporation from a “neutral” rating to a “buy” rating in a report on Tuesday, April 11th. Finally, Goldman Sachs Group, Inc. (The) set a $174.00 target price on McDonald’s Corporation and gave the company a “buy” rating in a report on Thursday, July 27th. Thirteen research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. McDonald’s Corporation has an average rating of “Buy” and an average target price of $162.16.
In other McDonald’s Corporation news, insider Douglas M. Goare sold 17,286 shares of the firm’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 $2,739,831.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jerome N. Krulewitch sold 11,755 shares of the firm’s 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 completion of 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 54,363 shares of company stock worth $8,615,125 in the last 90 days. 0.24% of the stock is owned by company 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.
Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades 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.