Stewart & Patten Co. LLC cut its stake in McDonald's Co. (NYSE:MCD) by 4.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,758 shares of the fast-food giant’s stock after selling 281 shares during the quarter. Stewart & Patten Co. LLC’s holdings in McDonald's were worth $1,483,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. CVA Family Office LLC acquired a new stake in shares of McDonald's in the 1st quarter worth $33,000. Lenox Wealth Advisors LLC increased its stake in shares of McDonald's by 66.1% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 211 shares of the fast-food giant’s stock worth $46,000 after acquiring an additional 84 shares during the last quarter. Reitz Capital Advisors LLC acquired a new stake in shares of McDonald's in the 2nd quarter worth $42,000. JJJ Advisors Inc. increased its stake in shares of McDonald's by 119.4% in the 2nd quarter. JJJ Advisors Inc. now owns 272 shares of the fast-food giant’s stock worth $50,000 after acquiring an additional 148 shares during the last quarter. Finally, Rocky Mountain Advisers LLC acquired a new stake in shares of McDonald's in the 3rd quarter worth $66,000. 66.07% of the stock is owned by institutional investors and hedge funds.
MCD has been the subject of a number of research analyst reports. SVB Leerink initiated coverage on McDonald's in a report on Friday, July 24th. They set a “hold” rating for the company. BTIG Research increased their price target on McDonald's from $220.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, October 9th. BMO Capital Markets increased their price target on McDonald's from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, October 9th. Stifel Nicolaus increased their price target on McDonald's from $182.00 to $195.00 and gave the stock a “hold” rating in a report on Tuesday, July 28th. Finally, KeyCorp increased their price target on McDonald's from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, August 18th. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $223.00.
McDonald's (NYSE:MCD) last issued its earnings results on Tuesday, July 28th. The fast-food giant reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.10). McDonald's had a negative return on equity of 52.78% and a net margin of 24.78%. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period last year, the business posted $2.05 EPS. McDonald's’s revenue was down 29.6% on a year-over-year basis. On average, analysts anticipate that McDonald's Co. will post 5.98 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a dividend of $1.29 per share. This is a positive change from McDonald's’s previous quarterly dividend of $1.25. The ex-dividend date is Monday, November 30th. This represents a $5.16 annualized dividend and a yield of 2.26%. McDonald's’s payout ratio is 63.78%.
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 and beverages, as well as breakfast menu. As of December 31, 2019, the company operated 38,695 restaurants. McDonald's Corporation was founded in 1940 and is based in Chicago, Illinois.
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