NewSquare Capital LLC lowered its position in Mcdonald’s Corp (NYSE:MCD) by 14.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 644 shares of the fast-food giant’s stock after selling 109 shares during the quarter. NewSquare Capital LLC’s holdings in Mcdonald’s were worth $138,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of MCD. Krane Funds Advisors LLC acquired a new stake in Mcdonald’s during the second quarter valued at approximately $25,000. Litman Gregory Asset Management LLC acquired a new stake in Mcdonald’s during the second quarter valued at approximately $27,000. Atlas Capital Advisors LLC lifted its stake in Mcdonald’s by 330.3% during 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. acquired a new stake in Mcdonald’s during the second quarter valued at approximately $34,000. Finally, Next Capital Management LLC acquired a new stake in Mcdonald’s during the second quarter valued at approximately $41,000. Hedge funds and other institutional investors own 67.64% of the company’s stock.
In other news, VP Catherine A. Hoovel sold 457 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $218.15, for a total transaction of $99,694.55. Following the transaction, the vice president now owns 1,348 shares in the company, valued at approximately $294,066.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Silvia Lagnado sold 26,649 shares of the firm’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 completion of 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. Corporate insiders own 0.25% of the company’s stock.
Mcdonald’s (NYSE:MCD) last announced its quarterly earnings results on Friday, July 26th. The fast-food giant reported $2.05 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.34 billion. During the same quarter last year, the company earned $1.99 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, equities research analysts predict that Mcdonald’s Corp will post 8 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.25 per share. This is a positive change 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 2.41%. Mcdonald’s’s dividend payout ratio is 58.73%.
Several analysts recently commented on the stock. Morgan Stanley increased their target price on shares of Mcdonald’s from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. UBS Group increased their target price 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. Stifel Nicolaus increased their target price on shares of Mcdonald’s from $200.00 to $210.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Stephens set a $230.00 target price on shares of Mcdonald’s and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $230.00 target price (up from $210.00) on shares of Mcdonald’s in a research note on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $221.90.
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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