Highland Capital Management LLC Has $1.38 Million Position in McDonald’s Corporation (MCD)

Highland Capital Management LLC increased its stake in shares of McDonald’s Corporation (NYSE:MCD) by 280.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,017 shares of the fast-food giant’s stock after buying an additional 6,647 shares during the period. Highland Capital Management LLC’s holdings in McDonald’s Corporation were worth $1,381,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Sit Investment Associates Inc. increased its position in shares of McDonald’s Corporation by 78.2% in the second quarter. Sit Investment Associates Inc. now owns 5,300 shares of the fast-food giant’s stock valued at $812,000 after buying an additional 2,325 shares during the last quarter. Patten & Patten Inc. TN increased its position in shares of McDonald’s Corporation by 31.2% in the second quarter. Patten & Patten Inc. TN now owns 7,991 shares of the fast-food giant’s stock valued at $1,224,000 after buying an additional 1,900 shares during the last quarter. Aperio Group LLC increased its position in shares of McDonald’s Corporation by 2.9% in the second quarter. Aperio Group LLC now owns 528,742 shares of the fast-food giant’s stock valued at $80,982,000 after buying an additional 15,025 shares during the last quarter. Visionary Asset Management Inc. bought a new position in shares of McDonald’s Corporation during the second quarter valued at $418,000. Finally, Diversified Trust Co increased its position in shares of McDonald’s Corporation by 4.7% in the second quarter. Diversified Trust Co now owns 2,079 shares of the fast-food giant’s stock valued at $318,000 after buying an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 67.52% of the company’s stock.

McDonald’s Corporation (NYSE MCD) traded down 0.48% on Tuesday, reaching $154.23. The company had a trading volume of 1,276,035 shares. The stock has a market capitalization of $125.71 billion, a P/E ratio of 25.25 and a beta of 0.70. The stock’s 50 day moving average is $154.15 and its 200-day moving average is $139.07. McDonald’s Corporation has a 1-year low of $110.33 and a 1-year high of $159.98.

McDonald’s Corporation (NYSE:MCD) last issued its quarterly earnings results on Tuesday, July 25th. The fast-food giant reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.08. The company had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.96 billion. McDonald’s Corporation had a negative return on equity of 266.50% and a net margin of 21.00%. McDonald’s Corporation’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.45 earnings per share. On average, equities analysts predict that McDonald’s Corporation will post $6.55 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 1st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.76 dividend on an annualized basis and a yield of 2.43%. McDonald’s Corporation’s dividend payout ratio is currently 61.54%.

WARNING: “Highland Capital Management LLC Has $1.38 Million Position in McDonald’s Corporation (MCD)” was originally posted by Markets Daily and is owned by of Markets Daily. If you are viewing this article on another domain, it was illegally stolen and republished in violation of international copyright & trademark legislation. The original version of this article can be accessed at https://www.themarketsdaily.com/2017/08/08/highland-capital-management-llc-has-1-38-million-position-in-mcdonalds-corporation-mcd.html.

Several brokerages have recently weighed in on MCD. Vetr upgraded McDonald’s Corporation from a “sell” rating to a “hold” rating and set a $159.47 price target for the company in a report on Thursday, August 3rd. BidaskClub downgraded McDonald’s Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research downgraded McDonald’s Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Piper Jaffray Companies restated a “buy” rating and set a $170.00 price target on shares of McDonald’s Corporation in a report on Friday, July 28th. Finally, Cowen and Company restated a “buy” rating and set a $180.00 price target on shares of McDonald’s Corporation in a report on Friday, July 28th. Thirteen analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $162.16.

In other news, CFO Kevin M. Ozan sold 25,322 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $158.50, for a total value of $4,013,537.00. Following the transaction, the chief financial officer now owns 24,039 shares in the company, valued at $3,810,181.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas M. Goare sold 17,286 shares of the firm’s stock in a transaction that occurred 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. Insiders have sold 54,363 shares of company stock worth $8,615,125 in the last quarter. 0.24% of the stock is currently owned by company insiders.

McDonald’s Corporation Company Profile

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.

Institutional Ownership by Quarter for McDonald`s Corporation (NYSE:MCD)

Receive News & Ratings for McDonald's Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDonald's Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply