Mcdonald’s Corp (MCD) Shares Sold by Bank of New York Mellon Corp
Bank of New York Mellon Corp decreased its stake in Mcdonald’s Corp (NYSE:MCD) by 8.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,183,461 shares of the fast-food giant’s stock after selling 794,501 shares during the period. Bank of New York Mellon Corp’s holdings in Mcdonald’s were worth $1,282,266,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in MCD. HC Financial Advisors Inc. purchased a new position in shares of Mcdonald’s during the 4th quarter worth approximately $1,795,000. Derby & Company Inc. purchased a new stake in shares of Mcdonald’s in the 4th quarter worth approximately $790,000. Brookmont Capital Management grew its stake in shares of Mcdonald’s by 45.3% in the 4th quarter. Brookmont Capital Management now owns 53,459 shares of the fast-food giant’s stock worth $9,201,000 after buying an additional 16,676 shares during the last quarter. Buckingham Asset Management LLC grew its stake in shares of Mcdonald’s by 6.9% in the 4th quarter. Buckingham Asset Management LLC now owns 16,107 shares of the fast-food giant’s stock worth $2,772,000 after buying an additional 1,043 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC grew its stake in shares of Mcdonald’s by 102.8% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 4,519 shares of the fast-food giant’s stock worth $756,000 after buying an additional 2,291 shares during the last quarter. Institutional investors and hedge funds own 67.92% of the company’s stock.
MCD has been the topic of several recent research reports. Wells Fargo & Co upped their price target on Mcdonald’s from $180.00 to $185.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 8th. Royal Bank of Canada restated a “buy” rating and issued a $175.00 price target on shares of Mcdonald’s in a research note on Friday, May 25th. Goldman Sachs Group set a $185.00 price target on Mcdonald’s and gave the stock a “buy” rating in a research note on Tuesday, May 8th. Barclays restated a “buy” rating and issued a $204.00 price target on shares of Mcdonald’s in a research note on Wednesday, May 2nd. Finally, Jefferies Financial Group restated a “buy” rating and issued a $190.00 price target on shares of Mcdonald’s in a research note on Friday, July 27th. Nine investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $181.93.
Mcdonald’s (NYSE:MCD) last released its quarterly earnings data on Thursday, July 26th. The fast-food giant reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.07. The business had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Mcdonald’s had a negative return on equity of 133.89% and a net margin of 25.26%. The firm’s quarterly revenue was down 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.73 EPS. analysts forecast that Mcdonald’s Corp will post 7.65 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th will be given a $1.01 dividend. The ex-dividend date of this dividend is Friday, August 31st. This represents a $4.04 annualized dividend and a yield of 2.51%. Mcdonald’s’s dividend payout ratio (DPR) is presently 60.66%.
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, 2017, the company operated 37,241 restaurants, including 34,108 franchised restaurants comprising 21,366 franchised to conventional franchisees, 6,945 licensed to developmental licensees, and 5,797 licensed to foreign affiliates; and 3,133 company-operated restaurants.
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