Sandy Spring Bank cut its holdings in shares of Mcdonald’s Corp (NYSE:MCD) by 2.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 69,625 shares of the fast-food giant’s stock after selling 1,876 shares during the quarter. Mcdonald’s accounts for about 1.2% of Sandy Spring Bank’s investment portfolio, making the stock its 16th largest holding. Sandy Spring Bank’s holdings in Mcdonald’s were worth $14,458,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in MCD. Norges Bank acquired a new stake in Mcdonald’s during the 4th quarter worth about $1,326,793,000. Thoroughbred Financial Services LLC lifted its holdings in shares of Mcdonald’s by 21,724.4% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,151,660 shares of the fast-food giant’s stock valued at $315,166,000 after buying an additional 3,137,219 shares during the last quarter. FMR LLC lifted its holdings in shares of Mcdonald’s by 15.3% during the 4th quarter. FMR LLC now owns 21,356,753 shares of the fast-food giant’s stock valued at $3,792,318,000 after buying an additional 2,831,716 shares during the last quarter. Ronna Sue Cohen lifted its holdings in shares of Mcdonald’s by 18,528.9% during the 1st quarter. Ronna Sue Cohen now owns 2,408,909 shares of the fast-food giant’s stock valued at $2,409,000 after buying an additional 2,395,978 shares during the last quarter. Finally, American International Group Inc. lifted its holdings in shares of Mcdonald’s by 719.4% during the 4th quarter. American International Group Inc. now owns 2,683,386 shares of the fast-food giant’s stock valued at $476,489,000 after buying an additional 2,355,895 shares during the last quarter. Hedge funds and other institutional investors own 68.21% of the company’s stock.
Shares of MCD stock traded up $1.02 during trading on Wednesday, reaching $218.18. The company had a trading volume of 765,541 shares, compared to its average volume of 3,127,347. The stock has a 50 day moving average price of $213.10. Mcdonald’s Corp has a one year low of $156.56 and a one year high of $221.93. The firm has a market cap of $167.95 billion, a P/E ratio of 27.62, a PEG ratio of 3.17 and a beta of 0.49.
Mcdonald’s (NYSE:MCD) last issued its quarterly earnings data on Friday, July 26th. The fast-food giant reported $2.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.01). Mcdonald’s had a net margin of 28.32% and a negative return on equity of 92.02%. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.34 billion. During the same period in the previous year, the business posted $1.99 earnings per share. The firm’s revenue was down .2% on a year-over-year basis. On average, equities research analysts forecast that Mcdonald’s Corp will post 8 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Friday, August 30th. Mcdonald’s’s payout ratio is 58.73%.
Several equities research analysts have recently issued reports on the company. Barclays set a $230.00 price target on Mcdonald’s and gave the company a “buy” rating in a report on Friday, July 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $230.00 price target (up from $210.00) on shares of Mcdonald’s in a report on Monday, July 15th. KeyCorp lifted their price target on Mcdonald’s from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Monday, July 29th. JPMorgan Chase & Co. lifted their price target on Mcdonald’s from $195.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, June 28th. Finally, Piper Jaffray Companies lifted their price target on Mcdonald’s from $209.00 to $226.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $220.23.
In other Mcdonald’s news, EVP Silvia Lagnado sold 26,649 shares of Mcdonald’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $212.58, for a total value of $5,665,044.42. Following the transaction, the executive vice president now directly owns 40,129 shares of the company’s stock, valued at approximately $8,530,622.82. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ian Frederick Borden sold 4,149 shares of Mcdonald’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $199.22, for a total value of $826,563.78. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
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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