Braun Bostich & Associates Inc. purchased a new stake in shares of McDonald’s Co. (NYSE:MCD) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,044 shares of the fast-food giant’s stock, valued at approximately $163,000.
A number of other institutional investors have also made changes to their positions in MCD. Rainier Group Investment Advisory LLC acquired a new stake in shares of McDonald’s during the first quarter worth $102,000. Elmwood Wealth Management Inc. acquired a new stake in shares of McDonald’s during the first quarter worth $104,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of McDonald’s during the fourth quarter worth $109,000. Tarbox Family Office Inc. lifted its holdings in shares of McDonald’s by 105.8% during the fourth quarter. Tarbox Family Office Inc. now owns 638 shares of the fast-food giant’s stock worth $110,000 after buying an additional 328 shares in the last quarter. Finally, Horan Capital Management acquired a new stake in shares of McDonald’s during the fourth quarter worth $110,000. 67.26% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $170.00 price target on shares of McDonald’s in a research note on Friday, March 2nd. Bank of America set a $180.00 price target on McDonald’s and gave the company a “buy” rating in a research note on Monday, March 5th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $175.00 price target (down previously from $191.00) on shares of McDonald’s in a research note on Tuesday, March 6th. Zacks Investment Research downgraded McDonald’s from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $182.00 price target on shares of McDonald’s in a research note on Monday, March 12th. Nine equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $184.00.
McDonald’s (NYSE:MCD) last released its earnings results on Monday, April 30th. The fast-food giant reported $1.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.12. McDonald’s had a negative return on equity of 167.80% and a net margin of 24.02%. The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the previous year, the business posted $1.47 earnings per share. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. equities analysts anticipate that McDonald’s Co. will post 7.68 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 18th. Shareholders of record on Monday, June 4th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Friday, June 1st. McDonald’s’s dividend payout ratio is presently 60.66%.
In other news, EVP Kevin M. Ozan sold 18,636 shares of the business’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $165.69, for a total transaction of $3,087,798.84. Following the sale, the executive vice president now directly owns 29,800 shares in the company, valued at $4,937,562. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Douglas M. Goare sold 13,255 shares of the business’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $165.40, for a total value of $2,192,377.00. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.
McDonald’s Company Profile
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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