McDonald’s Corporation (MCD) Position Decreased by Ballentine Partners LLC
Ballentine Partners LLC decreased its stake in shares of McDonald’s Corporation (NYSE:MCD) by 6.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,974 shares of the fast-food giant’s stock after selling 323 shares during the period. Ballentine Partners LLC’s holdings in McDonald’s Corporation were worth $644,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in MCD. Proficio Capital Partners LLC increased its stake in shares of 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 worth $127,000 after buying an additional 84 shares during the period. Signature Estate & Investment Advisors LLC purchased a new position in McDonald’s Corporation during the first quarter worth approximately $146,000. Hudock Capital Group LLC increased its position in McDonald’s Corporation by 5.9% in the first quarter. Hudock Capital Group LLC now owns 1,493 shares of the fast-food giant’s stock worth $193,000 after buying an additional 83 shares during the period. Finally, Capital Investment Advisory Services LLC purchased a new position in McDonald’s Corporation during the first quarter worth approximately $201,000. Institutional investors own 68.20% of the company’s stock.
McDonald’s Corporation (NYSE MCD) traded up 0.16% during midday trading on Thursday, hitting $159.16. 582,593 shares of the company traded hands. The firm has a market capitalization of $128.92 billion, a PE ratio of 26.05 and a beta of 0.70. McDonald’s Corporation has a 12-month low of $110.33 and a 12-month high of $159.98. The stock’s 50-day moving average is $155.18 and its 200-day moving average is $141.52.
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, 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 264.89%. The firm had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.96 billion. During the same period last year, the firm earned $1.45 EPS. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. Analysts anticipate that McDonald’s Corporation will post $6.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 1st will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.37%. The ex-dividend date is Wednesday, August 30th. McDonald’s Corporation’s dividend payout ratio is currently 61.54%.
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MCD has been the subject of a number of research reports. Royal Bank Of Canada set a $170.00 price target on McDonald’s Corporation and gave the stock a “buy” rating in a research note on Thursday, June 22nd. Zacks Investment Research upgraded McDonald’s Corporation from a “hold” rating to a “buy” rating and set a $172.00 price target for the company in a research note on Tuesday, June 27th. Deutsche Bank AG lifted their price target on McDonald’s Corporation from $155.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Credit Suisse Group reiterated an “outperform” rating and issued a $157.00 price target (up from $137.00) on shares of McDonald’s Corporation in a research note on Saturday, April 29th. Finally, Barclays PLC lifted their price target on McDonald’s Corporation from $139.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 26th. Twelve investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target 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 dated Wednesday, July 26th. The shares were sold at an average price of $158.50, for a total value of $2,739,831.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 10,793 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $154.44, for a total transaction of $1,666,870.92. Following the completion of the transaction, the insider now directly owns 7,318 shares in the company, valued at $1,130,191.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,938 shares of company stock worth $11,033,009. Insiders own 0.24% of the company’s stock.
McDonald’s Corporation Company Profile
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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