IFG Advisory LLC boosted its holdings in Mcdonald’s Corp (NYSE:MCD) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,085 shares of the fast-food giant’s stock after acquiring an additional 216 shares during the quarter. IFG Advisory LLC’s holdings in Mcdonald’s were worth $1,678,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC raised its holdings in Mcdonald’s by 0.3% during the 1st quarter. FMR LLC now owns 21,416,684 shares of the fast-food giant’s stock worth $4,067,029,000 after buying an additional 59,931 shares during the period. Geode Capital Management LLC raised its holdings in Mcdonald’s by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 9,441,973 shares of the fast-food giant’s stock worth $1,673,764,000 after buying an additional 683,872 shares during the period. Norges Bank acquired a new stake in Mcdonald’s during the 4th quarter worth about $1,326,793,000. Janus Henderson Group PLC grew its stake in Mcdonald’s by 1.9% during the 2nd quarter. Janus Henderson Group PLC now owns 5,549,855 shares of the fast-food giant’s stock valued at $1,152,473,000 after acquiring an additional 104,026 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Mcdonald’s by 6.4% during the 4th quarter. Legal & General Group Plc now owns 4,006,305 shares of the fast-food giant’s stock valued at $711,332,000 after acquiring an additional 242,661 shares in the last quarter. Hedge funds and other institutional investors own 68.25% of the company’s stock.
In related news, EVP Silvia Lagnado sold 26,649 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was 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 directly owns 40,129 shares in the company, valued at approximately $8,530,622.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Catherine A. Hoovel sold 457 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $294,066.20. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.
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 net margin of 28.32% and a negative return on equity of 92.02%. The firm had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.34 billion. During the same period in the previous year, the firm posted $1.99 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts anticipate that Mcdonald’s Corp will post 8.01 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $1.16 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $4.64 annualized dividend and a yield of 2.14%. Mcdonald’s’s dividend payout ratio (DPR) is currently 58.73%.
Several equities analysts have weighed in on the company. Bank of America lifted their target price on Mcdonald’s from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $230.00 target price (up previously from $210.00) on shares of Mcdonald’s in a research note on Monday, July 15th. Piper Jaffray Companies lifted their target price on Mcdonald’s from $209.00 to $226.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Stifel Nicolaus lifted their target price on Mcdonald’s from $200.00 to $210.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, 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. Eight research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $220.55.
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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