First Business Financial Services Inc. lowered its position in Mcdonald’s Corp (NYSE:MCD) by 19.5% in the third quarter, Holdings Channel.com reports. The firm owned 2,461 shares of the fast-food giant’s stock after selling 596 shares during the quarter. First Business Financial Services Inc.’s holdings in Mcdonald’s were worth $528,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in MCD. Cox Capital Mgt LLC grew its position in shares of Mcdonald’s by 2.7% during the 2nd quarter. Cox Capital Mgt LLC now owns 11,382 shares of the fast-food giant’s stock valued at $2,364,000 after buying an additional 299 shares during the last quarter. Thomasville National Bank boosted its holdings in shares of Mcdonald’s by 3.6% during the 2nd quarter. Thomasville National Bank now owns 23,281 shares of the fast-food giant’s stock worth $4,834,000 after purchasing an additional 800 shares during the last quarter. Baystate Wealth Management LLC boosted its holdings in shares of Mcdonald’s by 59.4% during the 2nd quarter. Baystate Wealth Management LLC now owns 735 shares of the fast-food giant’s stock worth $152,000 after purchasing an additional 274 shares during the last quarter. South Texas Money Management Ltd. boosted its holdings in shares of Mcdonald’s by 4.4% during the 2nd quarter. South Texas Money Management Ltd. now owns 1,529 shares of the fast-food giant’s stock worth $318,000 after purchasing an additional 64 shares during the last quarter. Finally, Winfield Associates Inc. acquired a new position in shares of Mcdonald’s during the 2nd quarter worth approximately $145,000. Hedge funds and other institutional investors own 67.91% of the company’s stock.
Several research analysts have recently weighed in on the company. KeyCorp lowered their target price on Mcdonald’s from $235.00 to $225.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Mcdonald’s in a research report on Friday, July 26th. JPMorgan Chase & Co. cut their price objective on Mcdonald’s from $230.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Robert W. Baird cut their price objective on Mcdonald’s from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. Finally, TheStreet raised Mcdonald’s from a “c+” rating to a “b-” rating in a research report on Monday, August 26th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $222.96.
Shares of NYSE MCD traded up $0.53 during trading on Friday, hitting $193.61. The stock had a trading volume of 3,457,071 shares, compared to its average volume of 3,371,192. The firm has a fifty day moving average of $204.71 and a two-hundred day moving average of $207.29. The company has a market capitalization of $144.73 billion, a PE ratio of 24.51, a PEG ratio of 3.04 and a beta of 0.48. Mcdonald’s Corp has a 12 month low of $169.04 and a 12 month high of $221.93.
Mcdonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 22nd. The fast-food giant reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.10). Mcdonald’s had a negative return on equity of 85.71% and a net margin of 28.09%. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.47 billion. During the same period in the previous year, the business earned $2.10 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. On average, research analysts predict that Mcdonald’s Corp will post 7.87 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Mcdonald’s’s previous quarterly dividend of $1.16. Mcdonald’s’s dividend payout ratio is 58.73%.
In other Mcdonald’s news, CEO Christopher J. Kempczinski purchased 2,580 shares of the stock in a transaction on Wednesday, November 6th. The shares were bought at an average price of $193.81 per share, for a total transaction of $500,029.80. Following the completion of the transaction, the chief executive officer now owns 2,580 shares of the company’s stock, valued at approximately $500,029.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Catherine A. Hoovel sold 457 shares of the 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 transaction, the vice president now owns 1,348 shares in the company, valued at approximately $294,066.20. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
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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