McDonald’s Corporation $MCD Shares Acquired by Sienna Gestion
by Teresa Graham · The Cerbat GemSienna Gestion lifted its stake in shares of McDonald’s Corporation (NYSE:MCD – Free Report) by 11.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,342 shares of the fast-food giant’s stock after buying an additional 3,912 shares during the period. Sienna Gestion’s holdings in McDonald’s were worth $10,494,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in MCD. WealthPlan Investment Management LLC raised its holdings in shares of McDonald’s by 0.9% during the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock worth $1,134,000 after purchasing an additional 32 shares during the last quarter. Security Financial Services INC. raised its holdings in shares of McDonald’s by 0.7% during the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock worth $1,575,000 after purchasing an additional 33 shares during the last quarter. Ascent Wealth Partners LLC raised its holdings in shares of McDonald’s by 0.3% during the first quarter. Ascent Wealth Partners LLC now owns 11,588 shares of the fast-food giant’s stock worth $3,620,000 after purchasing an additional 34 shares during the last quarter. Platform Technology Partners raised its holdings in shares of McDonald’s by 0.4% during the first quarter. Platform Technology Partners now owns 8,617 shares of the fast-food giant’s stock worth $2,692,000 after purchasing an additional 35 shares during the last quarter. Finally, Alexander Labrunerie & CO. Inc. raised its holdings in shares of McDonald’s by 3.4% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 1,070 shares of the fast-food giant’s stock worth $334,000 after purchasing an additional 35 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. Bank of America reduced their target price on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a report on Friday, July 18th. JPMorgan Chase & Co. raised their target price on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Stifel Nicolaus lifted their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a report on Friday, August 22nd. BMO Capital Markets lifted their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Finally, Melius started coverage on shares of McDonald’s in a report on Monday, July 14th. They issued a “sell” rating and a $250.00 price objective for the company. Eleven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $323.43.
Get Our Latest Report on McDonald’s
McDonald’s Stock Performance
MCD opened at $305.01 on Thursday. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The company has a fifty day moving average of $304.94 and a two-hundred day moving average of $305.25. The stock has a market capitalization of $217.66 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 3.23 and a beta of 0.50.
McDonald’s (NYSE:MCD – Get Free Report) last released its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The company had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.10 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.23 EPS. On average, equities research analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.
McDonald’s Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $1.86 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, December 1st. McDonald’s’s dividend payout ratio is presently 63.75%.
Insider Transactions at McDonald’s
In other news, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the sale, the chief marketing officer owned 6,858 shares of the company’s stock, valued at $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president directly owned 99 shares of the company’s stock, valued at $30,690. This represents a 90.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is owned by insiders.
About McDonald’s
McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.
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