Equitable Trust Co. trimmed its holdings in shares of Mcdonald’s Corp (NYSE:MCD) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,688 shares of the fast-food giant’s stock after selling 292 shares during the quarter. Equitable Trust Co.’s holdings in Mcdonald’s were worth $2,634,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in MCD. Krane Funds Advisors LLC bought a new stake in shares of Mcdonald’s in the second quarter valued at about $25,000. Litman Gregory Asset Management LLC bought a new stake in shares of Mcdonald’s in the second quarter valued at about $27,000. Atlas Capital Advisors LLC grew its stake in Mcdonald’s by 330.3% in the second quarter. Atlas Capital Advisors LLC now owns 142 shares of the fast-food giant’s stock valued at $29,000 after purchasing an additional 109 shares during the last quarter. Westside Investment Management Inc. purchased a new position in Mcdonald’s in the second quarter valued at about $34,000. Finally, Next Capital Management LLC purchased a new position in Mcdonald’s in the second quarter valued at about $41,000. Institutional investors and hedge funds own 67.61% of the company’s stock.
Shares of NYSE MCD traded up $0.88 during midday trading on Wednesday, hitting $212.90. 120,696 shares of the company’s stock were exchanged, compared to its average volume of 3,016,026. Mcdonald’s Corp has a twelve month low of $161.82 and a twelve month high of $221.93. The company has a market cap of $161.14 billion, a PE ratio of 26.92, a P/E/G ratio of 3.11 and a beta of 0.49. The firm’s fifty day simple moving average is $215.82 and its 200-day simple moving average is $203.59.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.25 dividend. This is a boost from Mcdonald’s’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.00 annualized dividend and a dividend yield of 2.35%. Mcdonald’s’s payout ratio is 58.73%.
In other news, VP Catherine A. Hoovel sold 457 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $218.15, for a total value of $99,694.55. Following the completion of the sale, the vice president now owns 1,348 shares in the company, valued at $294,066.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Silvia Lagnado sold 26,649 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $212.58, for a total value of $5,665,044.42. Following the completion of the sale, the executive vice president now owns 40,129 shares of the company’s stock, valued at approximately $8,530,622.82. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
Several equities analysts have issued reports on MCD shares. Evercore ISI started coverage on Mcdonald’s in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $225.00 target price on the stock. BMO Capital Markets lifted their target price on Mcdonald’s to $230.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Wells Fargo & Co lifted their target price on Mcdonald’s from $235.00 to $237.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Stephens lifted their target price on Mcdonald’s from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, BTIG Research lifted their target price on Mcdonald’s from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $221.19.
Mcdonald’s Company Profile
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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