CAPROCK Group Inc. grew its stake in shares of McDonald’s Co. (NYSE:MCD – Get Rating) by 0.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,159 shares of the fast-food giant’s stock after acquiring an additional 42 shares during the period. CAPROCK Group Inc.’s holdings in McDonald’s were worth $1,276,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Norwood Financial Corp purchased a new position in McDonald’s during the fourth quarter valued at approximately $27,000. Future Financial Wealth Managment LLC purchased a new position in McDonald’s during the fourth quarter valued at approximately $33,000. Castle Financial & Retirement Planning Associates Inc. purchased a new position in McDonald’s during the fourth quarter valued at approximately $34,000. Horan Securities Inc. purchased a new position in McDonald’s in the fourth quarter worth $45,000. Finally, Fortis Advisors LLC purchased a new position in McDonald’s in the third quarter worth $48,000. 68.44% of the stock is currently owned by institutional investors.
MCD has been the topic of several analyst reports. UBS Group cut their price target on shares of McDonald’s from $300.00 to $290.00 and set a “buy” rating on the stock in a report on Wednesday, March 30th. Deutsche Bank Aktiengesellschaft cut their price target on shares of McDonald’s from $268.00 to $265.00 in a report on Friday, April 29th. StockNews.com initiated coverage on shares of McDonald’s in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Oppenheimer cut their price target on shares of McDonald’s from $290.00 to $280.00 in a report on Monday, March 14th. Finally, Guggenheim cut their price target on shares of McDonald’s from $300.00 to $290.00 and set a “buy” rating on the stock in a report on Monday, May 2nd. Six investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and an average price target of $281.15.
McDonald’s (NYSE:MCD – Get Rating) last issued its quarterly earnings data on Thursday, April 28th. The fast-food giant reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.10. The business had revenue of $5.67 billion during the quarter, compared to the consensus estimate of $5.57 billion. McDonald’s had a net margin of 29.93% and a negative return on equity of 131.20%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.92 earnings per share. As a group, equities analysts predict that McDonald’s Co. will post 9.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 20th. Shareholders of record on Monday, June 6th were given a $1.38 dividend. The ex-dividend date was Friday, June 3rd. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.27%. McDonald’s’s dividend payout ratio (DPR) is currently 58.29%.
In other news, insider Joseph M. Erlinger sold 5,892 shares of the business’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $249.23, for a total transaction of $1,468,463.16. Following the completion of the sale, the insider now owns 8,187 shares of the company’s stock, valued at $2,040,446.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.
McDonald’s Profile (Get Rating)
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.
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