J.P. Marvel Investment Advisors LLC Maintains Position in McDonald’s Corporation (MCD)
J.P. Marvel Investment Advisors LLC continued to hold its position in shares of McDonald’s Corporation (NYSE:MCD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,700 shares of the fast-food giant’s stock at the end of the 2nd quarter. J.P. Marvel Investment Advisors LLC’s holdings in McDonald’s were worth $1,179,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of McDonald’s during the 2nd quarter valued at $322,000. Phocas Financial Corp. purchased a new position in McDonald’s in the 2nd quarter worth $107,000. Proficio Capital Partners LLC raised its position in McDonald’s by 0.7% in the 2nd quarter. Proficio Capital Partners LLC now owns 745 shares of the fast-food giant’s stock worth $117,000 after purchasing an additional 5 shares during the period. Acrospire Investment Management LLC purchased a new position in McDonald’s in the 2nd quarter worth $153,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in McDonald’s in the 2nd quarter worth $162,000. Institutional investors and hedge funds own 67.40% of the company’s stock.
In related news, VP James R. Sappington sold 8,046 shares of the business’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $165.00, for a total transaction of $1,327,590.00. Following the sale, the vice president now owns 15,739 shares of the company’s stock, valued at $2,596,935. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Easterbrook sold 171,577 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $168.32, for a total transaction of $28,879,840.64. Following the sale, the insider now directly owns 49,778 shares in the company, valued at approximately $8,378,632.96. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, October 24th. The fast-food giant reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.01. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.75 billion. McDonald’s had a net margin of 24.19% and a negative return on equity of 216.45%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 EPS. sell-side analysts forecast that McDonald’s Corporation will post 6.53 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $4.04 annualized dividend and a yield of 2.32%. This is a positive change from McDonald’s’s previous quarterly dividend of $0.94. McDonald’s’s payout ratio is presently 58.30%.
A number of equities analysts recently commented on the stock. Piper Jaffray Companies lifted their target price on shares of McDonald’s from $175.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday. Goldman Sachs Group set a $180.00 target price on shares of McDonald’s and gave the stock a “buy” rating in a research report on Tuesday. Barclays set a $193.00 target price on shares of McDonald’s and gave the stock a “buy” rating in a research report on Friday, December 8th. ValuEngine cut shares of McDonald’s from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Jefferies Group upgraded shares of McDonald’s from a “hold” rating to a “buy” rating and lifted their target price for the stock from $150.00 to $200.00 in a research report on Tuesday, December 5th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. McDonald’s currently has a consensus rating of “Buy” and a consensus target price of $175.05.
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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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