Skandinaviska Enskilda Banken AB publ boosted its stake in shares of McDonald's Co. (NYSE:MCD) by 2.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 212,161 shares of the fast-food giant’s stock after acquiring an additional 4,223 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in McDonald's were worth $33,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of MCD. Acrospire Investment Management LLC purchased a new stake in McDonald's during the 2nd quarter valued at about $153,000. Grove Bank & Trust boosted its holdings in McDonald's by 4.6% during the 2nd quarter. Grove Bank & Trust now owns 13,718 shares of the fast-food giant’s stock valued at $2,101,000 after acquiring an additional 599 shares during the period. Peoples Bank OH boosted its holdings in McDonald's by 5.9% during the 2nd quarter. Peoples Bank OH now owns 3,571 shares of the fast-food giant’s stock valued at $547,000 after acquiring an additional 200 shares during the period. Sterling Investment Management Inc. boosted its holdings in McDonald's by 3.0% during the 2nd quarter. Sterling Investment Management Inc. now owns 11,828 shares of the fast-food giant’s stock valued at $1,812,000 after acquiring an additional 342 shares during the period. Finally, Kistler Tiffany Companies LLC boosted its holdings in McDonald's by 7.2% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 3,737 shares of the fast-food giant’s stock valued at $572,000 after acquiring an additional 251 shares during the period. Institutional investors own 67.53% of the company’s stock.
In other news, insider Stephen Easterbrook sold 171,577 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $168.32, for a total value of $28,879,840.64. Following the completion of the transaction, the insider now owns 49,778 shares of the company’s stock, valued at approximately $8,378,632.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Catherine A. Hoovel sold 1,398 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $170.54, for a total value of $238,414.92. Following the transaction, the vice president now directly owns 1,398 shares of the company’s stock, valued at approximately $238,414.92. The disclosure for this sale can be found here. Insiders sold a total of 207,550 shares of company stock valued at $35,118,055 in the last three months. Corporate insiders own 0.24% of the company’s stock.
McDonald's (NYSE:MCD) last announced its earnings results on Tuesday, January 30th. The fast-food giant reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.12. McDonald's had a negative return on equity of 217.17% and a net margin of 22.75%. The firm had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the company earned $1.44 EPS. The business’s revenue was down 11.4% compared to the same quarter last year. research analysts expect that McDonald's Co. will post 7.54 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Wednesday, February 28th. McDonald's’s dividend payout ratio is currently 63.52%.
MCD has been the subject of several research analyst reports. Bank of America set a $200.00 price objective on McDonald's and gave the stock a “buy” rating in a report on Monday, January 29th. Credit Suisse Group reiterated an “outperform” rating and issued a $191.00 price objective (up previously from $185.00) on shares of McDonald's in a report on Tuesday, January 23rd. Nomura reiterated a “buy” rating and issued a $198.00 price objective (up previously from $190.00) on shares of McDonald's in a report on Tuesday, January 23rd. Zacks Investment Research upgraded McDonald's from a “hold” rating to a “buy” rating and set a $196.00 price objective for the company in a report on Thursday, January 18th. Finally, Goldman Sachs Group set a $200.00 price objective on McDonald's and gave the stock a “buy” rating in a report on Friday, January 19th. Nine research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. McDonald's currently has an average rating of “Buy” and an average price target of $184.95.
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.
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