Renaissance Investment Group LLC maintained its stake in shares of McDonald’s Corporation (NYSE:MCD) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,063 shares of the fast-food giant’s stock at the close of the 2nd quarter. Renaissance Investment Group LLC’s holdings in McDonald’s Corporation were worth $622,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. National Pension Service boosted its position in McDonald’s Corporation by 9.8% during the 2nd quarter. National Pension Service now owns 659,183 shares of the fast-food giant’s stock valued at $100,941,000 after acquiring an additional 59,072 shares in the last quarter. State of Alaska Department of Revenue boosted its position in McDonald’s Corporation by 2.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 77,021 shares of the fast-food giant’s stock valued at $11,795,000 after acquiring an additional 2,027 shares in the last quarter. Fisher Asset Management LLC boosted its position in McDonald’s Corporation by 18.4% during the 2nd quarter. Fisher Asset Management LLC now owns 6,906 shares of the fast-food giant’s stock valued at $1,058,000 after acquiring an additional 1,073 shares in the last quarter. Trust Co. of Toledo NA OH boosted its position in McDonald’s Corporation by 0.9% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 29,930 shares of the fast-food giant’s stock valued at $4,584,000 after acquiring an additional 256 shares in the last quarter. Finally, Creative Planning boosted its position in McDonald’s Corporation by 0.8% during the 2nd quarter. Creative Planning now owns 172,833 shares of the fast-food giant’s stock valued at $26,471,000 after acquiring an additional 1,315 shares in the last quarter. 67.92% of the stock is currently owned by institutional investors and hedge funds.

MCD has been the subject of a number of recent analyst reports. Robert W. Baird reissued a “buy” rating and issued a $170.00 price objective on shares of McDonald’s Corporation in a research report on Friday, September 1st. Royal Bank Of Canada reissued a “buy” rating and issued a $175.00 price objective on shares of McDonald’s Corporation in a research report on Friday, September 8th. Credit Suisse Group reissued an “outperform” rating and issued a $170.00 price objective (up previously from $165.00) on shares of McDonald’s Corporation in a research report on Wednesday, July 26th. Stephens reissued an “overweight” rating and issued a $155.00 price objective on shares of McDonald’s Corporation in a research report on Wednesday, July 26th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $162.00 price objective (up previously from $150.00) on shares of McDonald’s Corporation in a research report on Wednesday, July 26th. Ten research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $163.19.

In other McDonald’s Corporation news, EVP David Ogden Fairhurst sold 4,782 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $157.05, for a total value of $751,013.10. Following the completion of the transaction, the executive vice president now directly owns 6,954 shares of the company’s stock, valued at $1,092,125.70. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Douglas M. Goare sold 17,286 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $158.50, for a total transaction of $2,739,831.00. The disclosure for this sale can be found here. Insiders have sold 69,938 shares of company stock valued at $11,033,009 over the last three months. 0.24% of the stock is currently owned by corporate insiders.

COPYRIGHT VIOLATION WARNING: “Renaissance Investment Group LLC Has $622,000 Position in McDonald’s Corporation (MCD)” was published by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another site, it was stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this news story can be read at https://www.watchlistnews.com/renaissance-investment-group-llc-has-622000-position-in-mcdonalds-corporation-mcd/1599256.html.

McDonald’s Corporation (MCD) traded down 0.51% during midday trading on Friday, reaching $156.68. The company had a trading volume of 3,670,057 shares. McDonald’s Corporation has a 1-year low of $110.33 and a 1-year high of $161.72. The stock has a market capitalization of $126.91 billion, a PE ratio of 25.65 and a beta of 0.70. The firm’s 50 day moving average is $157.70 and its 200 day moving average is $147.07.

McDonald’s Corporation (NYSE:MCD) last posted its quarterly earnings results on Tuesday, July 25th. The fast-food giant reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.08. The firm had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $5.96 billion. McDonald’s Corporation had a net margin of 21.00% and a negative return on equity of 264.89%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.45 earnings per share. On average, equities analysts anticipate that McDonald’s Corporation will post $6.56 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $1.01 per share. This is a boost from McDonald’s Corporation’s previous quarterly dividend of $0.94. This represents a $4.04 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, November 30th. McDonald’s Corporation’s dividend payout ratio is currently 61.54%.

McDonald’s Corporation Profile

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.

Institutional Ownership by Quarter for McDonald`s Corporation (NYSE:MCD)

Receive News & Ratings for McDonald's Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDonald's Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.