Steinberg Global Asset Management boosted its holdings in McDonald’s Corporation (NYSE:MCD) by 2.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,299 shares of the fast-food giant’s stock after buying an additional 47 shares during the period. Steinberg Global Asset Management’s holdings in McDonald’s Corporation were worth $352,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Orrstown Financial Services Inc. increased its stake in McDonald’s Corporation by 17.2% in the 2nd 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 in the last quarter. Proficio Capital Partners LLC increased its stake in McDonald’s Corporation by 87.8% in the 1st 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 in the last quarter. Vigilant Capital Management LLC increased its stake in McDonald’s Corporation by 9.4% in the 1st 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 in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in McDonald’s Corporation in the 1st quarter worth $146,000. Finally, Acrospire Investment Management LLC purchased a new stake in McDonald’s Corporation in the 2nd quarter worth $153,000. Institutional investors and hedge funds own 67.92% of the company’s stock.

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A number of equities research analysts have issued reports on the company. Robert W. Baird reiterated a “buy” rating and issued a $170.00 price target on shares of McDonald’s Corporation in a research note on Friday, September 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $175.00 price target on shares of McDonald’s Corporation in a research note on Friday, September 8th. Credit Suisse Group reiterated an “outperform” rating and issued a $170.00 price target (up previously from $165.00) on shares of McDonald’s Corporation in a research note on Wednesday, July 26th. Stephens reiterated an “overweight” rating and issued a $155.00 price target on shares of McDonald’s Corporation in a research note on Wednesday, July 26th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $162.00 price target (up previously from $150.00) on shares of McDonald’s Corporation in a research note on Wednesday, July 26th. Twelve research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $162.26.

In other McDonald’s Corporation news, insider Douglas M. Goare sold 17,286 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $158.50, for a total transaction of $2,739,831.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevin M. Ozan sold 25,322 shares of the 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 $4,013,537.00. Following the sale, the chief financial officer now owns 24,039 shares in the company, valued at $3,810,181.50. The disclosure for this sale can be found here. Insiders have sold a total of 69,938 shares of company stock valued at $11,033,009 in the last ninety days. 0.24% of the stock is currently owned by corporate insiders.

Shares of McDonald’s Corporation (MCD) opened at 158.91 on Monday. The company has a market cap of $128.72 billion, a P/E ratio of 26.01 and a beta of 0.70. The stock’s 50 day moving average is $157.70 and its 200 day moving average is $147.07. McDonald’s Corporation has a 1-year low of $110.33 and a 1-year high of $161.72.

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 for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.08. The firm 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 264.89%. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the company posted $1.45 EPS. On average, analysts predict that McDonald’s Corporation will post $6.55 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.54%. This is a boost from McDonald’s Corporation’s previous quarterly dividend of $0.94. 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.

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

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