SeaCrest Wealth Management LLC increased its position in Mcdonald’s Corp (NYSE:MCD) by 9.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,903 shares of the fast-food giant’s stock after acquiring an additional 442 shares during the period. SeaCrest Wealth Management LLC’s holdings in Mcdonald’s were worth $1,053,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Krane Funds Advisors LLC purchased a new position in Mcdonald’s in the 2nd quarter worth approximately $25,000. Litman Gregory Asset Management LLC purchased a new position in Mcdonald’s in the 2nd quarter worth approximately $27,000. Atlas Capital Advisors LLC raised its holdings in Mcdonald’s by 330.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 142 shares of the fast-food giant’s stock worth $29,000 after acquiring an additional 109 shares during the last quarter. Westside Investment Management Inc. purchased a new position in Mcdonald’s in the 2nd quarter worth approximately $34,000. Finally, Next Capital Management LLC bought a new stake in Mcdonald’s in the 2nd quarter worth approximately $41,000. Institutional investors own 67.64% of the company’s stock.
A number of equities research analysts have commented on the stock. Mizuho lifted their target price on shares of Mcdonald’s from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Goldman Sachs Group assumed coverage on shares of Mcdonald’s in a research report on Monday, July 29th. They issued a “buy” rating and a $250.00 target price for the company. Robert W. Baird lifted their target price on shares of Mcdonald’s from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. TheStreet raised shares of Mcdonald’s from a “c+” rating to a “b-” rating in a research report on Monday, August 26th. Finally, Stifel Nicolaus lifted their target price on shares of Mcdonald’s from $200.00 to $210.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Nine investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Mcdonald’s currently has a consensus rating of “Buy” and a consensus price target of $221.90.
Mcdonald’s (NYSE:MCD) last issued its quarterly earnings data on Friday, July 26th. The fast-food giant reported $2.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.34 billion. During the same period in the previous year, the firm earned $1.99 EPS. The company’s revenue was down .2% on a year-over-year basis. On average, research analysts anticipate that Mcdonald’s Corp will post 8 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.25 per share. This is an increase from Mcdonald’s’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.40%. Mcdonald’s’s payout ratio is presently 58.73%.
In related news, VP Catherine A. Hoovel sold 457 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $218.15, for a total value of $99,694.55. Following the completion of the transaction, the vice president now owns 1,348 shares of the company’s stock, valued at approximately $294,066.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Silvia Lagnado sold 26,649 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $212.58, for a total transaction of $5,665,044.42. Following the completion of the transaction, the executive vice president now directly owns 40,129 shares of the company’s stock, valued at approximately $8,530,622.82. The disclosure for this sale can be found here. 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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