Laurel Grove Capital LLC Sells 11,210 Shares of McDonald’s Corp. (MCD)
Laurel Grove Capital LLC reduced its position in shares of McDonald’s Corp. (NYSE:MCD) by 62.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,655 shares of the fast-food giant’s stock after selling 11,210 shares during the period. Laurel Grove Capital LLC’s holdings in McDonald’s Corp. were worth $801,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Invictus RG raised its stake in shares of McDonald’s Corp. by 364.1% in the first quarter. Invictus RG now owns 919 shares of the fast-food giant’s stock worth $115,000 after buying an additional 721 shares in the last quarter. RPg Family Wealth Advisory LLC raised its stake in shares of McDonald’s Corp. by 572.4% in the first quarter. RPg Family Wealth Advisory LLC now owns 975 shares of the fast-food giant’s stock worth $123,000 after buying an additional 830 shares in the last quarter. LGL Partners LLC raised its stake in shares of McDonald’s Corp. by 0.4% in the first quarter. LGL Partners LLC now owns 1,722 shares of the fast-food giant’s stock worth $216,000 after buying an additional 7 shares in the last quarter. American Economic Planning Group Inc. ADV purchased a new stake in shares of McDonald’s Corp. during the first quarter worth about $222,000. Finally, Brookstone Capital Management purchased a new stake in shares of McDonald’s Corp. during the second quarter worth about $224,000. Institutional investors and hedge funds own 69.19% of the company’s stock.
Shares of McDonald’s Corp. (NYSE:MCD) traded down 0.74% on Friday, reaching $115.28. 9,500,452 shares of the company traded hands. McDonald’s Corp. has a 52-week low of $95.78 and a 52-week high of $131.96. The firm has a 50-day moving average of $117.07 and a 200-day moving average of $122.37. The company has a market capitalization of $98.38 billion, a PE ratio of 22.01 and a beta of 0.59.
McDonald’s Corp. (NYSE:MCD) last released its quarterly earnings results on Tuesday, July 26th. The fast-food giant reported $1.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.06. McDonald’s Corp. had a return on equity of 97.56% and a net margin of 18.73%. The company earned $6.27 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the prior year, the business posted $1.26 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities research analysts forecast that McDonald’s Corp. will post $5.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, September 1st were paid a $0.89 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $3.56 annualized dividend and a dividend yield of 3.09%. McDonald’s Corp.’s payout ratio is 68.59%.
MCD has been the subject of a number of analyst reports. Sanford C. Bernstein initiated coverage on shares of McDonald’s Corp. in a report on Thursday, May 26th. They issued a “market perform” rating and a $129.00 price objective for the company. Nomura reissued a “buy” rating on shares of McDonald’s Corp. in a report on Thursday, June 2nd. Credit Agricole SA reissued a “sell” rating and issued a $128.00 price objective on shares of McDonald’s Corp. in a report on Wednesday, June 8th. Longbow Research reissued a “hold” rating on shares of McDonald’s Corp. in a report on Wednesday, June 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of McDonald’s Corp. in a report on Wednesday, June 22nd. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $126.62.
In other news, Chairman Andrew J. Mckenna sold 70,000 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $118.28, for a total value of $8,279,600.00. Following the completion of the transaction, the chairman now owns 108,841 shares of the company’s stock, valued at $12,873,713.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.28% of the stock is owned by insiders.
McDonald’s Corp. Company Profile
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally-relevant menu of quality 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.
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