Oppenheimer Asset Management Inc. Lowers Holdings in Mcdonald’s Corp (NYSE:MCD)
Oppenheimer Asset Management Inc. lowered its holdings in shares of Mcdonald’s Corp (NYSE:MCD) by 13.0% in the 1st quarter, Holdings Channel reports. The firm owned 16,423 shares of the fast-food giant’s stock after selling 2,457 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Mcdonald’s were worth $3,118,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Ruggie Capital Group increased its stake in Mcdonald’s by 3,020.0% in the 4th quarter. Ruggie Capital Group now owns 156 shares of the fast-food giant’s stock worth $28,000 after buying an additional 151 shares during the period. Gantzert Investment Co. LLC ADV purchased a new position in Mcdonald’s in the 4th quarter worth about $31,000. Aspire Private Capital LLC purchased a new position in Mcdonald’s in the 4th quarter worth about $32,000. Focused Wealth Management Inc increased its stake in Mcdonald’s by 4,500.0% in the 4th quarter. Focused Wealth Management Inc now owns 184 shares of the fast-food giant’s stock worth $33,000 after buying an additional 180 shares during the period. Finally, Canton Hathaway LLC purchased a new position in Mcdonald’s in the 1st quarter worth about $35,000. Institutional investors and hedge funds own 67.76% of the company’s stock.
NYSE:MCD opened at $203.26 on Wednesday. Mcdonald’s Corp has a fifty-two week low of $153.13 and a fifty-two week high of $206.39. The stock has a market capitalization of $156.90 billion, a PE ratio of 25.73, a PEG ratio of 2.88 and a beta of 0.50.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Friday, May 31st. Mcdonald’s’s dividend payout ratio (DPR) is presently 58.73%.
In related news, EVP Jerome N. Krulewitch sold 20,641 shares of Mcdonald’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $196.40, for a total value of $4,053,892.40. Following the completion of the sale, the executive vice president now directly owns 20,641 shares in the company, valued at approximately $4,053,892.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ian Frederick Borden sold 4,149 shares of Mcdonald’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $199.22, for a total transaction of $826,563.78. The disclosure for this sale can be found here. Insiders sold a total of 104,449 shares of company stock valued at $20,458,931 over the last quarter. 0.25% of the stock is owned by company insiders.
A number of research analysts have commented on MCD shares. Stephens raised shares of Mcdonald’s from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $180.00 to $200.00 in a research report on Tuesday, February 19th. Wells Fargo & Co raised their target price on shares of Mcdonald’s from $203.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Mizuho raised their target price on shares of Mcdonald’s from $204.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Barclays raised their target price on shares of Mcdonald’s from $208.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Zacks Investment Research raised shares of Mcdonald’s from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $203.65.
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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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