McDonald’s Corporation (NYSE:MCD) Shares Sold by Cape ANN Savings Bank
Cape ANN Savings Bank reduced its position in shares of McDonald’s Corporation (NYSE:MCD) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,888 shares of the fast-food giant’s stock after selling 150 shares during the period. McDonald’s Corporation makes up about 3.0% of Cape ANN Savings Bank’s investment portfolio, making the stock its 6th largest position. Cape ANN Savings Bank’s holdings in McDonald’s Corporation were worth $2,280,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Orrstown Financial Services Inc. increased its position in McDonald’s Corporation by 17.2% in the second quarter. Orrstown Financial Services Inc. now owns 709 shares of the fast-food giant’s stock worth $108,000 after buying an additional 104 shares during the last quarter. Proficio Capital Partners LLC increased its position in McDonald’s Corporation by 87.8% in the first quarter. Proficio Capital Partners LLC now owns 740 shares of the fast-food giant’s stock worth $111,000 after buying an additional 346 shares during the last quarter. Vigilant Capital Management LLC increased its position in McDonald’s Corporation by 9.4% in the first quarter. Vigilant Capital Management LLC now owns 977 shares of the fast-food giant’s stock worth $127,000 after buying an additional 84 shares during the last quarter. Acrospire Investment Management LLC acquired a new position in McDonald’s Corporation during the second quarter worth approximately $153,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in McDonald’s Corporation during the first quarter worth approximately $146,000. Institutional investors and hedge funds own 67.52% of the company’s stock.
Shares of McDonald’s Corporation (MCD) traded up 0.43% during trading on Friday, reaching $157.30. The company had a trading volume of 2,925,044 shares. McDonald’s Corporation has a 12 month low of $110.33 and a 12 month high of $159.98. The stock’s 50-day moving average price is $154.85 and its 200-day moving average price is $140.61. The stock has a market capitalization of $127.41 billion, a PE ratio of 25.75 and a beta of 0.70.
McDonald’s Corporation (NYSE:MCD) last issued its quarterly earnings results on Tuesday, July 25th. The fast-food giant reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.08. The firm had revenue of $6.05 billion during the quarter, compared to analyst estimates of $5.96 billion. McDonald’s Corporation had a negative return on equity of 264.89% and a net margin of 21.00%. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period last year, the company posted $1.45 EPS. Equities analysts forecast that McDonald’s Corporation will post $6.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Wednesday, August 30th. McDonald’s Corporation’s payout ratio is currently 61.54%.
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A number of research analysts have recently commented on the company. UBS AG set a $143.00 price objective on McDonald’s Corporation and gave the company a “neutral” rating in a report on Wednesday, April 26th. BidaskClub downgraded McDonald’s Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Vetr upgraded McDonald’s Corporation from a “sell” rating to a “hold” rating and set a $159.47 price objective on the stock in a report on Thursday, August 3rd. Barclays PLC reiterated an “overweight” rating and issued a $173.00 price objective (up previously from $164.00) on shares of McDonald’s Corporation in a report on Wednesday, July 26th. Finally, Zacks Investment Research downgraded McDonald’s Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Thirteen investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $162.16.
In other McDonald’s Corporation news, insider Douglas M. Goare sold 17,286 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $158.50, for a total transaction of $2,739,831.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 10,793 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $154.44, for a total value of $1,666,870.92. Following the transaction, the insider now directly owns 7,318 shares of the company’s stock, valued at $1,130,191.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,156 shares of company stock valued at $10,281,996. 0.24% of the stock is currently owned by corporate 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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