Tower Bridge Advisors reduced its holdings in Mcdonald’s Corp (NYSE:MCD) by 0.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 91,639 shares of the fast-food giant’s stock after selling 55 shares during the period. Mcdonald’s accounts for about 2.1% of Tower Bridge Advisors’ portfolio, making the stock its 7th largest holding. Tower Bridge Advisors’ holdings in Mcdonald’s were worth $19,030,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Litman Gregory Asset Management LLC acquired a new position in Mcdonald’s in the 2nd quarter valued at about $27,000. Atlas Capital Advisors LLC grew its stake in Mcdonald’s by 330.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 142 shares of the fast-food giant’s stock valued at $29,000 after buying an additional 109 shares during the last quarter. Westside Investment Management Inc. acquired a new position in Mcdonald’s in the 2nd quarter valued at about $34,000. Aspire Private Capital LLC acquired a new position in Mcdonald’s in the 4th quarter valued at about $32,000. Finally, Canton Hathaway LLC acquired a new position in Mcdonald’s in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 68.25% of the company’s stock.
MCD has been the topic of a number of research reports. Bank of America upped their price target on shares of Mcdonald’s from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Mizuho upped their price target on shares of Mcdonald’s from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Robert W. Baird upped their price target on shares of Mcdonald’s from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Jefferies Financial Group upped their price target on shares of Mcdonald’s from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, UBS Group upped their price target on shares of Mcdonald’s from $203.00 to $218.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Eight research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Mcdonald’s presently has a consensus rating of “Buy” and an average target price of $220.55.
Shares of Mcdonald’s stock traded down $3.00 on Friday, reaching $216.49. 141,018 shares of the stock were exchanged, compared to its average volume of 3,318,009. The firm’s 50 day moving average is $215.13 and its 200-day moving average is $198.03. Mcdonald’s Corp has a one year low of $156.56 and a one year high of $221.93. The firm has a market cap of $165.92 billion, a PE ratio of 27.41, a P/E/G ratio of 3.24 and a beta of 0.49.
Mcdonald’s (NYSE:MCD) last issued its quarterly earnings results on Friday, July 26th. The fast-food giant reported $2.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.01). Mcdonald’s had a negative return on equity of 92.02% and a net margin of 28.32%. The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.34 billion. During the same period last year, the company posted $1.99 EPS. The business’s revenue was down .2% on a year-over-year basis. As a group, research analysts predict that Mcdonald’s Corp will post 8.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Friday, August 30th. Mcdonald’s’s dividend payout ratio (DPR) is presently 58.73%.
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.
Read More: Hold Rating
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