Redpoint Investment Management Pty Ltd lifted its position in McDonald’s Co. (NYSE:MCD – Get Rating) by 4.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,163 shares of the fast-food giant’s stock after buying an additional 847 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in McDonald’s were worth $4,739,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of MCD. Norwood Financial Corp bought a new stake in shares of McDonald’s in the 4th quarter worth $27,000. Future Financial Wealth Managment LLC bought a new stake in shares of McDonald’s in the 4th quarter worth $33,000. Castle Financial & Retirement Planning Associates Inc. acquired a new stake in shares of McDonald’s during the fourth quarter worth $34,000. Horan Securities Inc. acquired a new stake in shares of McDonald’s during the fourth quarter worth $45,000. Finally, Fortis Advisors LLC acquired a new stake in shares of McDonald’s during the third quarter worth $48,000. 68.44% of the stock is currently owned by institutional investors.
In other news, insider Joseph M. Erlinger sold 5,892 shares of the company’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $249.23, for a total transaction of $1,468,463.16. Following the completion of the sale, the insider now owns 8,187 shares in the company, valued at approximately $2,040,446.01. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.
McDonald’s (NYSE:MCD – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The fast-food giant reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.10. The company had revenue of $5.67 billion during the quarter, compared to the consensus estimate of $5.57 billion. McDonald’s had a negative return on equity of 131.20% and a net margin of 29.93%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.92 EPS. On average, research analysts predict that McDonald’s Co. will post 9.81 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 20th. Stockholders of record on Monday, June 6th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Friday, June 3rd. This represents a $5.52 annualized dividend and a dividend yield of 2.26%. McDonald’s’s dividend payout ratio (DPR) is presently 58.29%.
A number of brokerages have recently issued reports on MCD. Deutsche Bank Aktiengesellschaft cut their target price on McDonald’s from $268.00 to $265.00 in a research report on Friday, April 29th. Barclays cut their target price on McDonald’s from $300.00 to $289.00 and set an “overweight” rating on the stock in a research report on Thursday, June 9th. Citigroup boosted their target price on McDonald’s from $270.00 to $273.00 in a research report on Friday, April 29th. StockNews.com began coverage on McDonald’s in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, BTIG Research lowered their price target on McDonald’s from $295.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, April 19th. Six analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $281.15.
McDonald’s Company Profile (Get Rating)
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.
- Get a free copy of the StockNews.com research report on McDonald’s (MCD)
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