Wagner Bowman Management Corp cut its holdings in shares of Mcdonald’s Corp (NYSE:MCD) by 0.4% in the 2nd quarter, Holdings Channel reports. The fund owned 22,777 shares of the fast-food giant’s stock after selling 92 shares during the period. Mcdonald’s accounts for about 1.1% of Wagner Bowman Management Corp’s investment portfolio, making the stock its 23rd biggest position. Wagner Bowman Management Corp’s holdings in Mcdonald’s were worth $4,729,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Mcdonald’s in the fourth quarter worth about $1,326,793,000. Thoroughbred Financial Services LLC boosted its stake in Mcdonald’s by 21,724.4% in the second quarter. Thoroughbred Financial Services LLC now owns 3,151,660 shares of the fast-food giant’s stock valued at $315,166,000 after acquiring an additional 3,137,219 shares during the period. FMR LLC boosted its stake in Mcdonald’s by 15.3% in the fourth quarter. FMR LLC now owns 21,356,753 shares of the fast-food giant’s stock valued at $3,792,318,000 after acquiring an additional 2,831,716 shares during the period. Ronna Sue Cohen boosted its stake in Mcdonald’s by 18,528.9% in the first quarter. Ronna Sue Cohen now owns 2,408,909 shares of the fast-food giant’s stock valued at $2,409,000 after acquiring an additional 2,395,978 shares during the period. Finally, Two Sigma Advisers LP boosted its stake in Mcdonald’s by 3,751.7% in the fourth quarter. Two Sigma Advisers LP now owns 1,416,065 shares of the fast-food giant’s stock valued at $251,451,000 after acquiring an additional 1,379,300 shares during the period. Institutional investors own 68.21% of the company’s stock.
NYSE MCD traded down $0.18 on Friday, hitting $218.09. 119,440 shares of the stock were exchanged, compared to its average volume of 3,236,265. Mcdonald’s Corp has a 52-week low of $156.56 and a 52-week high of $221.93. The company has a market capitalization of $166.87 billion, a price-to-earnings ratio of 27.61, a P/E/G ratio of 3.15 and a beta of 0.49. The company’s 50-day moving average price is $213.60 and its two-hundred day moving average price is $196.96.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.13%. The ex-dividend date is Friday, August 30th. Mcdonald’s’s payout ratio is 58.73%.
In other news, insider Ian Frederick Borden sold 4,149 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $199.22, for a total transaction of $826,563.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Silvia Lagnado sold 26,649 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $212.58, for a total transaction of $5,665,044.42. Following the transaction, the executive vice president now owns 40,129 shares in the company, valued at $8,530,622.82. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
A number of brokerages have commented on MCD. Credit Suisse Group lifted their target price on Mcdonald’s from $230.00 to $236.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. They noted that the move was a valuation call. Mizuho lifted their target price on Mcdonald’s from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $230.00 price target (up previously from $210.00) on shares of Mcdonald’s in a report on Monday, July 15th. Cleveland Research reaffirmed a “hold” rating on shares of Mcdonald’s in a report on Friday, July 12th. Finally, MKM Partners assumed coverage on Mcdonald’s in a report on Tuesday. They set a “buy” rating and a $250.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Mcdonald’s has a consensus rating of “Buy” and a consensus target price of $220.23.
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2018, the company operated 37,855 restaurants, including 35,085 franchised restaurants comprising 21,685 franchised to conventional franchisees, 7,225 licensed to developmental licensees, and 6,175 licensed to foreign affiliates; and 2,770 company-operated restaurants.
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