Palisades Hudson Asset Management L.P. trimmed its position in Mcdonald’s Corp (NYSE:MCD) by 23.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,400 shares of the fast-food giant’s stock after selling 430 shares during the period. Palisades Hudson Asset Management L.P.’s holdings in Mcdonald’s were worth $266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted its holdings in Mcdonald’s by 16,975.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,998,095 shares of the fast-food giant’s stock valued at $84,000 after purchasing an additional 14,910,259 shares during the last quarter. Norges Bank purchased a new stake in Mcdonald’s in the fourth quarter valued at $1,326,793,000. FMR LLC boosted its stake in shares of Mcdonald’s by 15.3% during the 4th quarter. FMR LLC now owns 21,356,753 shares of the fast-food giant’s stock worth $3,792,318,000 after acquiring an additional 2,831,716 shares in the last quarter. Ronna Sue Cohen boosted its stake in shares of Mcdonald’s by 18,528.9% during the 1st quarter. Ronna Sue Cohen now owns 2,408,909 shares of the fast-food giant’s stock worth $2,409,000 after acquiring an additional 2,395,978 shares in the last quarter. Finally, American International Group Inc. boosted its stake in shares of Mcdonald’s by 719.4% during the 4th quarter. American International Group Inc. now owns 2,683,386 shares of the fast-food giant’s stock worth $476,489,000 after acquiring an additional 2,355,895 shares in the last quarter. 67.69% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Kevin M. Ozan sold 40,930 shares of Mcdonald’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $195.90, for a total transaction of $8,018,187.00. Following the completion of the sale, the chief financial officer now directly owns 42,647 shares of the company’s stock, valued at approximately $8,354,547.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher J. Kempczinski sold 38,729 shares of Mcdonald’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $195.21, for a total transaction of $7,560,288.09. Following the sale, the insider now directly owns 11,658 shares of the company’s stock, valued at $2,275,758.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,449 shares of company stock valued at $20,458,931. Corporate insiders own 0.25% of the company’s stock.
Mcdonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $1.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($0.01). Mcdonald’s had a net margin of 28.20% and a negative return on equity of 95.31%. The business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.94 billion. During the same period in the prior year, the business earned $1.79 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts expect that Mcdonald’s Corp will post 8.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $1.16 per share. The ex-dividend date was Friday, May 31st. This represents a $4.64 annualized dividend and a dividend yield of 2.25%. Mcdonald’s’s dividend payout ratio (DPR) is currently 58.73%.
Several equities research analysts have recently issued reports on MCD shares. Wells Fargo & Co increased their target price on shares of Mcdonald’s from $203.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Mizuho raised their price target on shares of Mcdonald’s from $204.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Barclays raised their price target on shares of Mcdonald’s from $208.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Zacks Investment Research raised shares of Mcdonald’s from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Finally, Bank of America increased their price objective on shares of Mcdonald’s from $200.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Seven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Mcdonald’s has an average rating of “Buy” and a consensus target price of $207.93.
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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