Pinnacle Bank raised its position in Mcdonald’s Corp (NYSE:MCD) by 12.6% in the 2nd quarter, Holdings Channel reports. The fund owned 6,514 shares of the fast-food giant’s stock after acquiring an additional 730 shares during the period. Mcdonald’s accounts for approximately 0.9% of Pinnacle Bank’s holdings, making the stock its 22nd biggest position. Pinnacle Bank’s holdings in Mcdonald’s were worth $1,202,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Orser Capital Management LLC increased its position in Mcdonald’s by 11.8% during the 4th quarter. Orser Capital Management LLC now owns 6,020 shares of the fast-food giant’s stock worth $1,186,000 after purchasing an additional 634 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Mcdonald’s by 1.1% during the fourth quarter. Victory Capital Management Inc. now owns 614,605 shares of the fast-food giant’s stock worth $121,452,000 after buying an additional 6,400 shares in the last quarter. Teza Capital Management LLC acquired a new position in shares of Mcdonald’s in the fourth quarter valued at approximately $346,000. Franklin Resources Inc. lifted its stake in shares of Mcdonald’s by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 2,852,259 shares of the fast-food giant’s stock valued at $563,635,000 after buying an additional 55,210 shares during the period. Finally, Solstein Capital LLC acquired a new stake in Mcdonald’s during the fourth quarter worth approximately $65,000. 67.21% of the stock is currently owned by institutional investors and hedge funds.
MCD stock traded down $1.78 during trading on Tuesday, reaching $186.72. The stock had a trading volume of 1,034,582 shares, compared to its average volume of 3,664,248. The firm has a fifty day moving average price of $187.05 and a 200 day moving average price of $190.94. The company has a market capitalization of $136.46 billion, a P/E ratio of 24.46, a PEG ratio of 4.30 and a beta of 0.65. Mcdonald’s Corp has a 1-year low of $124.23 and a 1-year high of $221.93.
Mcdonald’s (NYSE:MCD) last released its quarterly earnings results on Thursday, April 30th. The fast-food giant reported $1.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.59 by ($0.12). Mcdonald’s had a negative return on equity of 70.25% and a net margin of 27.86%. The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the firm posted $1.78 EPS. The company’s revenue was down 6.2% compared to the same quarter last year. On average, research analysts expect that Mcdonald’s Corp will post 5.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Friday, May 29th. Mcdonald’s’s payout ratio is currently 63.78%.
Several analysts have commented on the company. Goldman Sachs Group reaffirmed a “buy” rating and set a $195.00 price objective on shares of Mcdonald’s in a research note on Friday, May 1st. Longbow Research upped their price target on shares of Mcdonald’s from $197.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Telsey Advisory Group reiterated an “outperform” rating on shares of Mcdonald’s in a report on Wednesday, April 22nd. BTIG Research lowered their price objective on shares of Mcdonald’s from $240.00 to $220.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Finally, Wells Fargo & Co increased their target price on Mcdonald’s from $209.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 16th. Eight research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $209.82.
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, 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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