Handelsbanken Fonder AB Sells 11,847 Shares of McDonald’s Corporation $MCD

Handelsbanken Fonder AB lessened its holdings in shares of McDonald’s Corporation (NYSE:MCDFree Report) by 4.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 254,579 shares of the fast-food giant’s stock after selling 11,847 shares during the quarter. Handelsbanken Fonder AB’s holdings in McDonald’s were worth $68,815,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Community Financial Services Group LLC raised its position in shares of McDonald’s by 4.9% during the second quarter. Community Financial Services Group LLC now owns 19,021 shares of the fast-food giant’s stock worth $5,125,000 after purchasing an additional 893 shares during the period. Fulton Bank N.A. grew its position in shares of McDonald’s by 0.7% in the 2nd quarter. Fulton Bank N.A. now owns 8,767 shares of the fast-food giant’s stock valued at $2,370,000 after purchasing an additional 57 shares during the period. Revolve Wealth Partners LLC increased its stake in McDonald’s by 208.8% during the 2nd quarter. Revolve Wealth Partners LLC now owns 3,876 shares of the fast-food giant’s stock worth $1,048,000 after purchasing an additional 2,621 shares in the last quarter. Focus Financial Network Inc. increased its stake in McDonald’s by 0.8% during the 2nd quarter. Focus Financial Network Inc. now owns 11,864 shares of the fast-food giant’s stock worth $3,207,000 after purchasing an additional 97 shares in the last quarter. Finally, Fluent Financial LLC bought a new stake in McDonald’s during the 2nd quarter worth approximately $1,186,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Down 0.4%

Shares of MCD stock opened at $273.30 on Tuesday. McDonald’s Corporation has a 12 month low of $260.96 and a 12 month high of $341.75. The company’s fifty day simple moving average is $273.98 and its 200-day simple moving average is $296.14. The firm has a market cap of $194.18 billion, a PE ratio of 22.20, a P/E/G ratio of 3.07 and a beta of 0.41.

McDonald’s (NYSE:MCDGet Free Report) last released its earnings results on Tuesday, August 4th. The fast-food giant reported $3.38 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.06. McDonald’s had a net margin of 31.72% and a negative return on equity of 512.80%. The business had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter last year, the firm earned $3.19 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts predict that McDonald’s Corporation will post 12.88 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be paid a $1.86 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $7.44 annualized dividend and a dividend yield of 2.7%. McDonald’s’s dividend payout ratio (DPR) is currently 60.44%.

McDonald’s News Summary

Here are the key news stories impacting McDonald’s this week:

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $295.00 price target on shares of McDonald’s in a research note on Wednesday, August 5th. Robert W. Baird lowered their price objective on shares of McDonald’s from $305.00 to $285.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. UBS Group set a $305.00 price objective on shares of McDonald’s in a report on Wednesday, August 5th. Tigress Financial boosted their price objective on shares of McDonald’s from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Finally, Royal Bank Of Canada reduced their target price on shares of McDonald’s from $305.00 to $295.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $325.44.

Read Our Latest Stock Report on MCD

Insiders Place Their Bets

In other news, EVP Desiree Ralls-Morrison sold 2,763 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $278.36, for a total transaction of $769,108.68. Following the transaction, the executive vice president directly owned 6,268 shares in the company, valued at $1,744,760.48. The trade was a 30.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph M. Erlinger sold 5,252 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $284.32, for a total transaction of $1,493,248.64. Following the completion of the sale, the insider directly owned 7,734 shares in the company, valued at approximately $2,198,930.88. The trade was a 40.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 8,348 shares of company stock worth $2,355,634. 0.26% of the stock is owned by corporate insiders.

McDonald’s Company Profile

(Free Report)

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.

See Also

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 Corporation (NYSE:MCDFree Report).

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

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