Bruderman Asset Management LLC Decreases Stock Holdings in McDonald's Co. (NYSE:MCD)
Bruderman Asset Management LLC trimmed its position in shares of McDonald's Co. (NYSE:MCD) by 43.7% during the 3rd quarter, Holdings Channel reports. The fund owned 10,897 shares of the fast-food giant’s stock after selling 8,464 shares during the period. Bruderman Asset Management LLC’s holdings in McDonald's were worth $2,392,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. CVA Family Office LLC purchased a new stake in shares of McDonald's during the 1st quarter worth approximately $33,000. Lake Point Wealth Management raised its holdings in McDonald's by 2,462.5% during the 1st quarter. Lake Point Wealth Management now owns 205 shares of the fast-food giant’s stock valued at $34,000 after buying an additional 197 shares during the period. Lenox Wealth Advisors LLC raised its holdings in McDonald's by 66.1% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 211 shares of the fast-food giant’s stock valued at $46,000 after buying an additional 84 shares during the period. Reitz Capital Advisors LLC purchased a new stake in McDonald's during the 2nd quarter valued at $42,000. Finally, JJJ Advisors Inc. raised its holdings in McDonald's by 119.4% during the 2nd quarter. JJJ Advisors Inc. now owns 272 shares of the fast-food giant’s stock valued at $50,000 after buying an additional 148 shares during the period. 66.07% of the stock is currently owned by institutional investors and hedge funds.
MCD has been the topic of several recent research reports. Morgan Stanley increased their price target on McDonald's from $208.00 to $248.00 and gave the company an “overweight” rating in a report on Wednesday. TheStreet lowered McDonald's from a “b-” rating to a “c” rating in a report on Friday, August 28th. Telsey Advisory Group upped their price objective on McDonald's from $210.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, September 4th. SVB Leerink began coverage on McDonald's in a research report on Friday, July 24th. They issued a “hold” rating on the stock. Finally, BofA Securities upped their price objective on McDonald's from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, October 5th. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $222.43.
McDonald's (NYSE:MCD) last announced its quarterly earnings data on Tuesday, July 28th. The fast-food giant reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.10). McDonald's had a negative return on equity of 52.78% and a net margin of 24.78%. The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. The company’s revenue for the quarter was down 29.6% compared to the same quarter last year. Research analysts expect that McDonald's Co. will post 5.96 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 2.25%. This is a boost from McDonald's’s previous quarterly dividend of $1.25. The ex-dividend date is Monday, November 30th. McDonald's’s dividend payout ratio (DPR) is presently 63.78%.
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 and beverages, as well as breakfast menu. As of December 31, 2019, the company operated 38,695 restaurants. McDonald's Corporation was founded in 1940 and is based in Chicago, Illinois.
Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald's Co. (NYSE:MCD).
Receive News & Ratings for McDonald's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDonald's and related companies with MarketBeat.com's FREE daily email newsletter.