Ropes Wealth Advisors LLC reduced its holdings in Mcdonald’s Corp (NYSE:MCD) by 2.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,715 shares of the fast-food giant’s stock after selling 480 shares during the period. Mcdonald’s makes up 1.0% of Ropes Wealth Advisors LLC’s portfolio, making the stock its 25th largest holding. Ropes Wealth Advisors LLC’s holdings in Mcdonald’s were worth $4,717,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Litman Gregory Asset Management LLC purchased a new position in shares of Mcdonald’s in the 2nd quarter worth $27,000. Atlas Capital Advisors LLC grew its stake in shares of Mcdonald’s by 330.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 142 shares of the fast-food giant’s stock worth $29,000 after buying an additional 109 shares in the last quarter. Aspire Private Capital LLC purchased a new position in shares of Mcdonald’s in the 4th quarter worth $32,000. Westside Investment Management Inc. purchased a new position in shares of Mcdonald’s in the 2nd quarter worth $34,000. Finally, Canton Hathaway LLC purchased a new position in shares of Mcdonald’s in the 1st quarter worth $35,000. 68.21% of the stock is owned by institutional investors and hedge funds.
In other Mcdonald’s news, insider Ian Frederick Borden sold 4,149 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $199.22, for a total value of $826,563.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Silvia Lagnado sold 26,649 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $212.58, for a total transaction of $5,665,044.42. Following the completion of the sale, the executive vice president now directly owns 40,129 shares of the company’s stock, valued at $8,530,622.82. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.
Mcdonald’s (NYSE:MCD) last released its quarterly earnings data on Friday, July 26th. The fast-food giant reported $2.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.01). The company had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.34 billion. Mcdonald’s had a net margin of 28.32% and a negative return on equity of 92.02%. Mcdonald’s’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the firm earned $1.99 earnings per share. As a group, equities analysts expect that Mcdonald’s Corp will post 8 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $1.16 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $4.64 annualized dividend and a yield of 2.11%. Mcdonald’s’s dividend payout ratio (DPR) is 58.73%.
MCD has been the subject of a number of recent research reports. Robert W. Baird lifted their price objective on shares of Mcdonald’s from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Piper Jaffray Companies lifted their price target on shares of Mcdonald’s from $209.00 to $226.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Morgan Stanley lifted their price target on shares of Mcdonald’s from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Goldman Sachs Group began coverage on shares of Mcdonald’s in a research note on Monday, July 29th. They set a “buy” rating and a $250.00 price target for the company. Finally, Credit Suisse Group lifted their price target on shares of Mcdonald’s from $230.00 to $236.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $220.23.
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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