PGGM Investments Sells 297,305 Shares of McDonald’s Corp. (MCD)
PGGM Investments lowered its stake in McDonald’s Corp. (NYSE:MCD) by 28.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 755,735 shares of the fast-food giant’s stock after selling 297,305 shares during the period. PGGM Investments owned about 0.09% of McDonald’s Corp. worth $90,945,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Smith Asset Management Group LP raised its position in McDonald’s Corp. by 7.3% in the second quarter. Smith Asset Management Group LP now owns 417,720 shares of the fast-food giant’s stock valued at $50,268,000 after buying an additional 28,577 shares during the period. Grimes & Company Inc. raised its position in McDonald’s Corp. by 5.1% in the second quarter. Grimes & Company Inc. now owns 11,414 shares of the fast-food giant’s stock valued at $1,374,000 after buying an additional 551 shares during the period. Atalanta Sosnoff Capital LLC raised its position in McDonald’s Corp. by 10.4% in the second quarter. Atalanta Sosnoff Capital LLC now owns 226,298 shares of the fast-food giant’s stock valued at $27,232,000 after buying an additional 21,381 shares during the period. Rehmann Capital Advisory Group raised its position in McDonald’s Corp. by 0.3% in the second quarter. Rehmann Capital Advisory Group now owns 9,886 shares of the fast-food giant’s stock valued at $1,190,000 after buying an additional 30 shares during the period. Finally, Albion Financial Group UT bought a new position in McDonald’s Corp. during the second quarter valued at approximately $250,000. 69.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of McDonald’s Corp. (NYSE:MCD) traded down 1.14% on Friday, reaching $114.09. The company’s stock had a trading volume of 5,312,532 shares. McDonald’s Corp. has a 1-year low of $102.08 and a 1-year high of $131.96. The stock has a market cap of $97.36 billion, a PE ratio of 21.79 and a beta of 0.61. The company’s 50 day moving average is $115.36 and its 200-day moving average is $121.39.
McDonald’s Corp. (NYSE:MCD) last posted its earnings results on Tuesday, July 26th. The fast-food giant reported $1.45 EPS for the quarter, beating the consensus estimate of $1.39 by $0.06. McDonald’s Corp. had a return on equity of 97.56% and a net margin of 18.73%. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the prior year, the business earned $1.26 earnings per share. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities analysts predict that McDonald’s Corp. will post $5.56 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a $0.94 dividend. This is an increase from McDonald’s Corp.’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $3.76 annualized dividend and a dividend yield of 3.30%. McDonald’s Corp.’s dividend payout ratio is presently 68.59%.
MCD has been the topic of a number of recent analyst reports. Telsey Advisory Group initiated coverage on McDonald’s Corp. in a research report on Monday. They issued an “outperform” rating and a $130.00 target price on the stock. Zacks Investment Research lowered McDonald’s Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Vetr lowered McDonald’s Corp. from a “buy” rating to a “hold” rating and set a $114.15 target price on the stock. in a research report on Monday, October 3rd. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $132.00 target price on shares of McDonald’s Corp. in a research report on Friday, September 16th. Finally, Citigroup Inc. cut their target price on McDonald’s Corp. from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 13th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $126.01.
In other news, Chairman Andrew J. Mckenna sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $118.28, for a total value of $8,279,600.00. Following the transaction, the chairman now owns 108,841 shares of the company’s stock, valued at $12,873,713.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.28% of the stock is owned by insiders.
McDonald’s Corp. Company Profile
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally-relevant menu of quality food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets and Foundational Markets and Corporate.
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