Bank of Nova Scotia reduced its position in McDonald’s Corporation (NYSE:MCD) by 50.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 228,251 shares of the fast-food giant’s stock after selling 229,002 shares during the period. Bank of Nova Scotia’s holdings in McDonald’s Corporation were worth $29,583,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Oakworth Capital Inc. boosted its stake in McDonald’s Corporation by 7.7% in the first quarter. Oakworth Capital Inc. now owns 4,977 shares of the fast-food giant’s stock worth $645,000 after buying an additional 355 shares during the period. Sterling Investment Management Inc. boosted its stake in McDonald’s Corporation by 4.9% in the first quarter. Sterling Investment Management Inc. now owns 11,486 shares of the fast-food giant’s stock worth $1,489,000 after buying an additional 536 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in McDonald’s Corporation by 18.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 92,407 shares of the fast-food giant’s stock worth $11,977,000 after buying an additional 14,662 shares during the period. Chesley Taft & Associates LLC boosted its stake in McDonald’s Corporation by 0.3% in the first quarter. Chesley Taft & Associates LLC now owns 34,485 shares of the fast-food giant’s stock worth $4,470,000 after buying an additional 115 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in McDonald’s Corporation during the fourth quarter worth $3,273,000. 68.20% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Corporation (NYSE MCD) traded up 0.37% during mid-day trading on Tuesday, hitting $157.84. 416,132 shares of the stock were exchanged. The firm has a 50-day moving average price of $154.92 and a 200-day moving average price of $141.15. McDonald’s Corporation has a 12-month low of $110.33 and a 12-month high of $159.98. The stock has a market capitalization of $127.85 billion, a P/E ratio of 25.84 and a beta of 0.70.

McDonald’s Corporation (NYSE:MCD) last issued its quarterly earnings data on Tuesday, July 25th. The fast-food giant reported $1.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.08. McDonald’s Corporation had a negative return on equity of 264.89% and a net margin of 21.00%. The business had revenue of $6.05 billion during the quarter, compared to analyst estimates of $5.96 billion. During the same period in the previous year, the firm earned $1.45 EPS. McDonald’s Corporation’s quarterly revenue was down 3.4% compared to the same quarter last year. Equities analysts predict that McDonald’s Corporation will post $6.55 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, September 1st will be given a $0.94 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.76 annualized dividend and a dividend yield of 2.39%. McDonald’s Corporation’s dividend payout ratio is presently 61.54%.

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MCD has been the topic of a number of analyst reports. Nomura set a $172.00 price objective on shares of McDonald’s Corporation and gave the stock a “buy” rating in a report on Wednesday, July 19th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $175.00 price objective (up previously from $165.00) on shares of McDonald’s Corporation in a report on Monday, June 26th. Royal Bank Of Canada set a $170.00 price objective on shares of McDonald’s Corporation and gave the stock a “buy” rating in a report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) set a $174.00 price objective on shares of McDonald’s Corporation and gave the stock a “buy” rating in a report on Thursday, July 27th. Finally, Barclays PLC increased their price objective on shares of McDonald’s Corporation from $139.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. Twelve research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $162.16.

In related news, CFO Kevin M. Ozan sold 25,322 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $158.50, for a total value of $4,013,537.00. Following the completion of the transaction, the chief financial officer now directly owns 24,039 shares in the company, valued at approximately $3,810,181.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas M. Goare sold 17,286 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $158.50, for a total value of $2,739,831.00. The disclosure for this sale can be found here. Insiders sold a total of 65,156 shares of company stock valued at $10,281,996 over the last quarter. 0.24% of the stock is owned by insiders.

About McDonald’s Corporation

McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of 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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Institutional Ownership by Quarter for McDonald`s Corporation (NYSE:MCD)

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