Mcdonald’s Corp (NYSE:MCD) Shares Sold by Zevin Asset Management LLC
Zevin Asset Management LLC cut its stake in shares of Mcdonald’s Corp (NYSE:MCD) by 15.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,048 shares of the fast-food giant’s stock after selling 545 shares during the quarter. Zevin Asset Management LLC’s holdings in Mcdonald’s were worth $654,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Krane Funds Advisors LLC acquired a new position in Mcdonald’s in the second quarter valued at approximately $25,000. Litman Gregory Asset Management LLC purchased a new stake in shares of Mcdonald’s during the second quarter worth approximately $27,000. Garrett Wealth Advisory Group LLC purchased a new stake in shares of Mcdonald’s during the third quarter worth approximately $30,000. Atlas Capital Advisors LLC raised its stake in shares of Mcdonald’s by 330.3% during the second quarter. Atlas Capital Advisors LLC now owns 142 shares of the fast-food giant’s stock worth $29,000 after purchasing an additional 109 shares during the last quarter. Finally, Westside Investment Management Inc. purchased a new stake in shares of Mcdonald’s during the second quarter worth approximately $34,000. 67.91% of the stock is owned by institutional investors and hedge funds.
Shares of MCD stock traded up $0.53 during mid-day trading on Friday, reaching $193.61. The stock had a trading volume of 3,457,071 shares, compared to its average volume of 3,371,192. Mcdonald’s Corp has a 12-month low of $169.04 and a 12-month high of $221.93. The company has a market cap of $144.73 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 3.04 and a beta of 0.48. The business has a 50-day simple moving average of $204.71 and a 200 day simple moving average of $207.29.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $1.25 dividend. The ex-dividend date is Friday, November 29th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.58%. This is a boost from Mcdonald’s’s previous quarterly dividend of $1.16. Mcdonald’s’s dividend payout ratio (DPR) is currently 58.73%.
In related news, CEO Christopher J. Kempczinski acquired 2,580 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were acquired at an average price of $193.81 per share, with a total value of $500,029.80. Following the completion of the purchase, the chief executive officer now directly owns 2,580 shares in the company, valued at $500,029.80. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, VP Catherine A. Hoovel sold 457 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $218.15, for a total value of $99,694.55. Following the sale, the vice president now directly owns 1,348 shares in the company, valued at approximately $294,066.20. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
MCD has been the subject of several analyst reports. Credit Suisse Group cut their price target on Mcdonald’s from $236.00 to $230.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Cowen upped their price target on Mcdonald’s from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. MKM Partners cut their price target on Mcdonald’s from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, November 4th. BTIG Research upped their price target on Mcdonald’s from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. cut their price target on Mcdonald’s from $230.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $222.96.
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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