McDonald’s Corporation (MCD) Stake Increased by Ledyard National Bank
Ledyard National Bank grew its position in McDonald’s Corporation (NYSE:MCD) by 3.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,044 shares of the fast-food giant’s stock after buying an additional 175 shares during the period. Ledyard National Bank’s holdings in McDonald’s Corporation were worth $926,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in MCD. Proficio Capital Partners LLC grew its stake in McDonald’s Corporation by 87.8% during the 1st quarter. Proficio Capital Partners LLC now owns 740 shares of the fast-food giant’s stock worth $111,000 after buying an additional 346 shares during the last quarter. Vigilant Capital Management LLC increased its position in McDonald’s Corporation by 9.4% during the 1st quarter. Vigilant Capital Management LLC now owns 977 shares of the fast-food giant’s stock valued at $127,000 after buying an additional 84 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in McDonald’s Corporation during the 1st quarter valued at about $146,000. Acrospire Investment Management LLC acquired a new position in McDonald’s Corporation during the 2nd quarter valued at about $153,000. Finally, Hudock Capital Group LLC increased its position in McDonald’s Corporation by 5.9% during the 1st quarter. Hudock Capital Group LLC now owns 1,493 shares of the fast-food giant’s stock valued at $193,000 after buying an additional 83 shares in the last quarter. Institutional investors and hedge funds own 67.92% of the company’s stock.
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MCD has been the topic of several recent analyst reports. Mizuho restated a “buy” rating and set a $173.00 price objective (up previously from $170.00) on shares of McDonald’s Corporation in a report on Wednesday, September 13th. Royal Bank Of Canada set a $170.00 target price on shares of McDonald’s Corporation and gave the stock a “buy” rating in a research note on Thursday, June 22nd. Zacks Investment Research upgraded shares of McDonald’s Corporation from a “hold” rating to a “buy” rating and set a $172.00 target price for the company in a research note on Tuesday, June 27th. Deutsche Bank AG boosted their target price on shares of McDonald’s Corporation from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, July 10th. Finally, Robert W. Baird reissued a “buy” rating and set a $170.00 target price on shares of McDonald’s Corporation in a research report on Friday, September 1st. Ten equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $164.96.
Shares of McDonald’s Corporation (NYSE:MCD) traded up 0.18% during midday trading on Wednesday, hitting $157.15. 921,356 shares of the stock were exchanged. The firm has a 50-day moving average price of $158.11 and a 200 day moving average price of $149.16. McDonald’s Corporation has a 12-month low of $110.33 and a 12-month high of $161.72. The firm has a market cap of $127.29 billion, a PE ratio of 25.72 and a beta of 0.69.
McDonald’s Corporation (NYSE:MCD) last released its quarterly earnings data on Tuesday, July 25th. The fast-food giant reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.08. The firm had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $5.96 billion. McDonald’s Corporation had a negative return on equity of 264.89% and a net margin of 21.00%. McDonald’s Corporation’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period last year, the business posted $1.45 EPS. Analysts predict that McDonald’s Corporation will post $6.56 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.58%. This is an increase from McDonald’s Corporation’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Thursday, November 30th. McDonald’s Corporation’s payout ratio is presently 61.54%.
In other news, EVP David Ogden Fairhurst sold 4,782 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $157.05, for a total value of $751,013.10. Following the completion of the transaction, the executive vice president now owns 6,954 shares in the company, valued at $1,092,125.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Douglas M. Goare sold 17,286 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $158.50, for a total value of $2,739,831.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,938 shares of company stock worth $11,033,009. 0.24% of the stock is owned by company insiders.
About McDonald’s Corporation
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of 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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