Clarus Wealth Advisors cut its holdings in shares of Mcdonald’s Corp (NYSE:MCD) by 42.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,079 shares of the fast-food giant’s stock after selling 1,532 shares during the quarter. Clarus Wealth Advisors’ holdings in Mcdonald’s were worth $386,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of MCD. Wellington Management Group LLP boosted its position in Mcdonald’s by 45.1% during the 1st quarter. Wellington Management Group LLP now owns 30,036,309 shares of the fast-food giant’s stock worth $4,966,504,000 after buying an additional 9,342,704 shares during the period. Norges Bank bought a new position in Mcdonald’s during the 4th quarter worth approximately $1,579,988,000. Magellan Asset Management Ltd raised its holdings in Mcdonald’s by 62.3% during the 1st quarter. Magellan Asset Management Ltd now owns 5,690,799 shares of the fast-food giant’s stock worth $940,974,000 after purchasing an additional 2,184,908 shares during the last quarter. Advisor Group Holdings Inc. bought a new position in Mcdonald’s during the 1st quarter worth approximately $54,127,000. Finally, Assenagon Asset Management S.A. raised its holdings in Mcdonald’s by 487.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,074,733 shares of the fast-food giant’s stock worth $177,707,000 after purchasing an additional 891,641 shares during the last quarter. Institutional investors and hedge funds own 67.21% of the company’s stock.
Several research firms have issued reports on MCD. Deutsche Bank raised their price target on shares of Mcdonald’s from $171.00 to $178.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Wells Fargo & Co raised their price target on shares of Mcdonald’s from $209.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, June 16th. BTIG Research lowered their price target on shares of Mcdonald’s from $240.00 to $220.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Stephens raised their price target on shares of Mcdonald’s from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Longbow Research lifted their price objective on shares of Mcdonald’s from $197.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Eight investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $209.82.
Shares of NYSE:MCD traded down $0.84 during midday trading on Thursday, reaching $185.01. The company had a trading volume of 251,641 shares, compared to its average volume of 3,534,173. The company’s 50 day moving average price is $187.46 and its 200 day moving average price is $190.85. The stock has a market cap of $138.19 billion, a P/E ratio of 24.36, a P/E/G ratio of 4.36 and a beta of 0.65. Mcdonald’s Corp has a 52-week low of $124.23 and a 52-week high of $221.93.
Mcdonald’s (NYSE:MCD) last issued its quarterly earnings results on Thursday, April 30th. The fast-food giant reported $1.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.59 by ($0.12). The company had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Mcdonald’s had a negative return on equity of 70.25% and a net margin of 27.86%. Mcdonald’s’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the firm posted $1.78 earnings per share. On average, equities research analysts forecast that Mcdonald’s Corp will post 5.81 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Friday, May 29th. Mcdonald’s’s dividend payout ratio (DPR) is currently 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, 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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