Drexel Morgan & Co. lowered its holdings in McDonald’s Co. (NYSE:MCD) by 11.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,964 shares of the fast-food giant’s stock after selling 1,730 shares during the period. McDonald’s comprises 0.9% of Drexel Morgan & Co.’s holdings, making the stock its 25th biggest holding. Drexel Morgan & Co.’s holdings in McDonald’s were worth $2,995,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Twin Lakes Capital Management LLC bought a new stake in McDonald’s during the first quarter worth approximately $30,000. Disciplined Investments LLC lifted its position in shares of McDonald’s by 175.4% during the 2nd quarter. Disciplined Investments LLC now owns 157 shares of the fast-food giant’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Isthmus Partners LLC bought a new stake in shares of McDonald’s during the 2nd quarter worth $46,000. Baldrige Asset Management LLC acquired a new position in shares of McDonald’s in the 2nd quarter worth $47,000. Finally, Lake Point Wealth Management acquired a new stake in shares of McDonald’s during the second quarter worth $47,000. Institutional investors and hedge funds own 66.34% of the company’s stock.
Shares of McDonald’s stock traded down $2.77 during trading on Tuesday, reaching $245.34. The company’s stock had a trading volume of 48,472 shares, compared to its average volume of 2,741,234. McDonald’s Co. has a one year low of $202.73 and a one year high of $248.90. The firm has a market cap of $183.22 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 2.36 and a beta of 0.63. The business’s fifty day moving average price is $239.48 and its 200-day moving average price is $234.23.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Investors of record on Wednesday, December 1st will be paid a dividend of $1.38 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.29. This represents a $5.52 annualized dividend and a yield of 2.25%. The ex-dividend date is Tuesday, November 30th. McDonald’s’s dividend payout ratio is presently 85.29%.
In related news, CFO Kevin M. Ozan sold 47,649 shares of the company’s stock in a transaction dated Thursday, July 29th. The shares were sold at an average price of $243.90, for a total value of $11,621,591.10. Following the sale, the chief financial officer now owns 32,483 shares of the company’s stock, valued at $7,922,603.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Catherine A. Hoovel sold 2,493 shares of McDonald’s stock in a transaction that occurred on Thursday, July 29th. The shares were sold at an average price of $243.45, for a total value of $606,920.85. Following the sale, the senior vice president now directly owns 3,384 shares in the company, valued at $823,834.80. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.
A number of equities analysts recently weighed in on MCD shares. TheStreet raised McDonald’s from a “c+” rating to a “b-” rating in a research note on Monday, August 9th. Jefferies Financial Group lifted their target price on shares of McDonald’s from $272.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, July 29th. UBS Group upped their price target on shares of McDonald’s from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of McDonald’s from $253.00 to $264.00 and gave the stock a “buy” rating in a research report on Thursday, July 29th. Finally, Wedbush increased their target price on McDonald’s from $265.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, July 29th. Seven analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Buy” and a consensus target price of $256.72.
McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S.; International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations in the United States. The International Operated Markets segment comprises operations and franchising of restaurant in Australia, Canada, France, Germany, Italy, the Netherlands, Russia, Spain, and the U.K.
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