Riverview Trust Co cut its position in shares of McDonald's Co. (NYSE:MCD) by 41.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,107 shares of the fast-food giant’s stock after selling 798 shares during the quarter. Riverview Trust Co’s holdings in McDonald's were worth $243,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisor Group Holdings Inc. bought a new stake in shares of McDonald's in the 1st quarter worth approximately $54,127,000. Charles Schwab Investment Management Inc. increased its position in shares of McDonald's by 33.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,529,724 shares of the fast-food giant’s stock valued at $835,598,000 after purchasing an additional 1,144,343 shares during the period. Bank of New York Mellon Corp raised its stake in shares of McDonald's by 15.2% in the second quarter. Bank of New York Mellon Corp now owns 8,308,005 shares of the fast-food giant’s stock valued at $1,532,576,000 after purchasing an additional 1,096,425 shares in the last quarter. Nordea Investment Management AB lifted its position in McDonald's by 626.4% in the second quarter. Nordea Investment Management AB now owns 1,118,018 shares of the fast-food giant’s stock worth $204,502,000 after purchasing an additional 964,105 shares during the period. Finally, APG Asset Management N.V. boosted its stake in McDonald's by 32.4% during the first quarter. APG Asset Management N.V. now owns 3,041,874 shares of the fast-food giant’s stock worth $502,974,000 after buying an additional 743,607 shares in the last quarter. Hedge funds and other institutional investors own 66.07% of the company’s stock.
Shares of MCD stock opened at $229.37 on Friday. The firm has a market cap of $170.67 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 5.25 and a beta of 0.67. McDonald's Co. has a 12 month low of $124.23 and a 12 month high of $231.91. The stock has a 50-day moving average price of $219.28 and a 200 day moving average price of $196.08.
McDonald's (NYSE:MCD) last issued its earnings results 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). The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.73 billion. McDonald's had a net margin of 24.78% and a negative return on equity of 52.78%. The firm’s revenue for the quarter was down 29.6% compared to the same quarter last year. During the same period last year, the business posted $2.05 EPS. On average, analysts expect that McDonald's Co. will post 5.96 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Monday, November 30th. This is a positive change from McDonald's’s previous quarterly dividend of $1.25. McDonald's’s payout ratio is currently 63.78%.
A number of research firms have recently commented on MCD. Truist raised their price objective on shares of McDonald's from $212.00 to $246.00 in a report on Friday, October 9th. Wells Fargo & Company raised their price target on shares of McDonald's from $222.00 to $244.00 and gave the stock an “overweight” rating in a research note on Thursday, October 1st. Jefferies Financial Group upped their price objective on McDonald's from $220.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, October 9th. Morgan Stanley raised their target price on McDonald's from $208.00 to $248.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, SVB Leerink initiated coverage on McDonald's in a research note on Friday, July 24th. They issued a “hold” rating on the stock. Eight analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. McDonald's currently has an average rating of “Buy” and a consensus price target of $222.43.
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.
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