Atlantic Trust LLC raised its stake in McDonald’s Co. (NYSE:MCD) by 1.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 11,932 shares of the fast-food giant’s stock after purchasing an additional 155 shares during the quarter. McDonald’s accounts for 1.8% of Atlantic Trust LLC’s portfolio, making the stock its 20th biggest position. Atlantic Trust LLC’s holdings in McDonald’s were worth $2,755,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the company. Stevens Capital Management LP increased its position in shares of McDonald’s by 129.7% in the second quarter. Stevens Capital Management LP now owns 7,694 shares of the fast-food giant’s stock valued at $1,777,000 after acquiring an additional 4,344 shares during the period. Kentucky Retirement Systems bought a new position in McDonald’s during the 2nd quarter valued at approximately $10,037,000. Bank of Nova Scotia grew its position in shares of McDonald’s by 75.1% in the 2nd quarter. Bank of Nova Scotia now owns 580,031 shares of the fast-food giant’s stock worth $133,980,000 after buying an additional 248,749 shares during the last quarter. Bank of Montreal Can increased its stake in shares of McDonald’s by 28.7% during the second quarter. Bank of Montreal Can now owns 2,187,123 shares of the fast-food giant’s stock valued at $513,974,000 after buying an additional 488,133 shares during the period. Finally, Davis R M Inc. raised its holdings in shares of McDonald’s by 2.0% during the second quarter. Davis R M Inc. now owns 15,864 shares of the fast-food giant’s stock valued at $3,664,000 after acquiring an additional 312 shares in the last quarter. 66.34% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of McDonald’s from $272.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, July 29th. Wells Fargo & Company raised their price objective on McDonald’s from $268.00 to $269.00 and gave the company an “overweight” rating in a research report on Thursday, July 29th. Royal Bank of Canada increased their price target on shares of McDonald’s from $263.00 to $268.00 and gave the stock an “outperform” rating in a research note on Thursday, July 29th. Cowen upped their price objective on shares of McDonald’s from $265.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. Finally, Stifel Nicolaus boosted their price target on McDonald’s from $240.00 to $245.00 and gave the stock a “hold” rating in a research report on Thursday, July 29th. Seven research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $256.72.
McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, July 27th. The fast-food giant reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.26. McDonald’s had a negative return on equity of 83.98% and a net margin of 31.72%. The company had revenue of $5.89 billion during the quarter, compared to analyst estimates of $5.63 billion. During the same period in the prior year, the company earned $0.66 earnings per share. On average, research analysts forecast that McDonald’s Co. will post 9 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Tuesday, November 30th. This represents a $5.52 annualized dividend and a yield of 2.22%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.29. McDonald’s’s dividend payout ratio (DPR) is 85.29%.
In other McDonald’s news, CFO Kevin M. Ozan sold 47,649 shares of the company’s stock in a transaction on Thursday, July 29th. The stock was sold at an average price of $243.90, for a total transaction of $11,621,591.10. Following the completion of the sale, the chief financial officer now owns 32,483 shares in the company, valued at $7,922,603.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Catherine A. Hoovel sold 2,493 shares of McDonald’s stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $243.45, for a total transaction of $606,920.85. Following the completion of the transaction, the senior vice president now directly owns 3,384 shares in the company, valued at approximately $823,834.80. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.
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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