Holderness Investments Co. boosted its holdings in shares of Mcdonald’s Corp (NYSE:MCD) by 1.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,928 shares of the fast-food giant’s stock after purchasing an additional 103 shares during the period. Mcdonald’s comprises approximately 1.0% of Holderness Investments Co.’s holdings, making the stock its 26th largest holding. Holderness Investments Co.’s holdings in Mcdonald’s were worth $2,269,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Bingham Osborn & Scarborough LLC increased its holdings in Mcdonald’s by 23.5% during the 2nd quarter. Bingham Osborn & Scarborough LLC now owns 2,794 shares of the fast-food giant’s stock valued at $580,000 after purchasing an additional 531 shares during the period. Spectrum Management Group Inc. increased its holdings in Mcdonald’s by 5.3% during the 2nd quarter. Spectrum Management Group Inc. now owns 2,953 shares of the fast-food giant’s stock valued at $613,000 after purchasing an additional 149 shares during the period. Forbes J M & Co. LLP increased its holdings in Mcdonald’s by 10.1% during the 2nd quarter. Forbes J M & Co. LLP now owns 51,346 shares of the fast-food giant’s stock valued at $10,663,000 after purchasing an additional 4,690 shares during the period. Clarius Group LLC increased its holdings in Mcdonald’s by 25.9% during the 2nd quarter. Clarius Group LLC now owns 6,145 shares of the fast-food giant’s stock valued at $1,276,000 after purchasing an additional 1,266 shares during the period. Finally, Employers Holdings Inc. purchased a new position in Mcdonald’s during the 2nd quarter valued at about $2,175,000. Institutional investors own 68.21% of the company’s stock.
Shares of MCD traded up $0.20 during mid-day trading on Friday, reaching $218.47. The company had a trading volume of 2,389,200 shares, compared to its average volume of 3,313,021. The firm has a 50-day moving average price of $213.85 and a 200 day moving average price of $197.07. Mcdonald’s Corp has a 52 week low of $156.56 and a 52 week high of $221.93. The company has a market capitalization of $165.91 billion, a price-to-earnings ratio of 27.65, a price-to-earnings-growth ratio of 3.10 and a beta of 0.49.
Mcdonald’s (NYSE:MCD) last issued its quarterly earnings results on Friday, July 26th. The fast-food giant reported $2.05 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). Mcdonald’s had a negative return on equity of 92.02% and a net margin of 28.32%. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.34 billion. During the same period in the prior year, the firm earned $1.99 earnings per share. The business’s revenue for the quarter was down .2% compared to the same quarter last year. On average, research analysts anticipate that Mcdonald’s Corp will post 8 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $1.16 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.12%. Mcdonald’s’s dividend payout ratio is currently 58.73%.
In other news, EVP Silvia Lagnado sold 26,649 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $212.58, for a total value of $5,665,044.42. Following the sale, the executive vice president now directly owns 40,129 shares of the company’s stock, valued at approximately $8,530,622.82. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ian Frederick Borden sold 4,149 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $199.22, for a total value of $826,563.78. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
A number of brokerages recently issued reports on MCD. JPMorgan Chase & Co. boosted their price target on Mcdonald’s from $195.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, June 28th. Telsey Advisory Group restated an “outperform” rating and set a $230.00 price target (up previously from $210.00) on shares of Mcdonald’s in a report on Monday, July 15th. Evercore ISI assumed coverage on Mcdonald’s in a report on Tuesday, June 11th. They set an “outperform” rating and a $225.00 target price on the stock. DZ Bank reiterated a “hold” rating and set a $220.00 target price (down previously from $222.00) on shares of Mcdonald’s in a report on Tuesday, July 30th. Finally, Sanford C. Bernstein reiterated a “buy” rating on shares of Mcdonald’s in a report on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Mcdonald’s has an average rating of “Buy” and an average target price of $220.23.
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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