McDonald’s Corporation (MCD) Position Trimmed by Jacobi Capital Management LLC
Jacobi Capital Management LLC cut its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,410 shares of the fast-food giant’s stock after selling 200 shares during the quarter. Jacobi Capital Management LLC’s holdings in McDonald’s were worth $1,308,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its holdings in shares of 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. AlphaMark Advisors LLC raised its holdings in shares of McDonald’s by 0.4% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,288 shares of the fast-food giant’s stock worth $197,000 after purchasing an additional 5 shares during the period. Winch Advisory Services LLC raised its holdings in shares of McDonald’s by 0.4% in the 2nd quarter. Winch Advisory Services LLC now owns 1,598 shares of the fast-food giant’s stock worth $245,000 after purchasing an additional 7 shares during the period. Valmark Advisers Inc. raised its holdings in shares of McDonald’s by 0.3% in the 2nd quarter. Valmark Advisers Inc. now owns 2,381 shares of the fast-food giant’s stock worth $365,000 after purchasing an additional 8 shares during the period. Finally, Allen Investment Management LLC raised its holdings in shares of McDonald’s by 0.5% in the 2nd quarter. Allen Investment Management LLC now owns 1,725 shares of the fast-food giant’s stock worth $264,000 after purchasing an additional 9 shares during the period. Hedge funds and other institutional investors own 67.40% of the company’s stock.
Shares of McDonald’s Corporation (NYSE MCD) traded down $2.22 during midday trading on Tuesday, reaching $170.65. The company’s stock had a trading volume of 3,943,100 shares, compared to its average volume of 3,476,107. McDonald’s Corporation has a 12-month low of $118.18 and a 12-month high of $173.48. The company has a current ratio of 1.28, a quick ratio of 1.27 and a debt-to-equity ratio of -8.17. The firm has a market cap of $137,809.47, a price-to-earnings ratio of 27.01, a PEG ratio of 2.83 and a beta of 0.67.
McDonald’s (NYSE:MCD) last issued its quarterly earnings data 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. McDonald’s had a negative return on equity of 216.45% and a net margin of 24.19%. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.75 billion. During the same quarter last year, the firm earned $1.62 EPS. McDonald’s’s quarterly revenue was down 10.4% on a year-over-year basis. equities analysts anticipate that McDonald’s Corporation will post 6.52 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, November 30th. This is a positive change from McDonald’s’s previous quarterly dividend of $0.94. McDonald’s’s dividend payout ratio (DPR) is 58.30%.
In other McDonald’s news, insider Stephen Easterbrook sold 171,577 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 49,778 shares in the company, valued at approximately $8,378,632.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP James R. Sappington sold 8,046 shares of the stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $165.00, for a total value of $1,327,590.00. Following the transaction, the vice president now directly owns 15,739 shares in the company, valued at approximately $2,596,935. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.
A number of equities analysts have recently commented on MCD shares. Longbow Research upgraded McDonald’s from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $154.05 to $183.00 in a report on Thursday, September 28th. Zacks Investment Research upgraded McDonald’s from a “hold” rating to a “buy” rating and set a $178.00 price objective on the stock in a report on Tuesday, September 26th. Credit Suisse Group set a $170.00 target price on McDonald’s and gave the company a “buy” rating in a research note on Wednesday, September 20th. Sanford C. Bernstein set a $180.00 target price on McDonald’s and gave the company a “buy” rating in a research note on Tuesday, September 19th. Finally, Mizuho reiterated a “buy” rating and issued a $173.00 target price (up previously from $170.00) on shares of McDonald’s in a research note on Wednesday, September 13th. Ten analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $173.95.
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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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