2 weeks Ago By ABMN Staff
Covington Investment Advisors Inc. decreased its holdings in shares of McDonald’s Co. ( NYSE:MCD – Free Report ) by 3.
0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 30,015 shares of the fast-food giant’s stock after selling 916 shares during the period.
Covington Investment Advisors Inc.’s holdings in McDonald’s were worth $7,649,000 at the end of the most recent reporting period. Several other hedge funds also recently made changes to their positions in MCD.
Gilbert & Cook Inc. boosted its stake in shares of McDonald’s by 20.7% during the 4th quarter.
Gilbert & Cook Inc. now owns 4,384 shares of the fast-food giant’s stock worth $1,300,000 after acquiring an additional 753 shares in the last quarter. Aveo Capital Partners LLC boosted its position in shares of McDonald’s by 14.
5% in the 4th quarter. Aveo Capital Partners LLC now owns 1,899 shares of the fast-food giant’s stock valued at $563,000 after purchasing an additional 240 shares during the period. 9258 Wealth Management LLC increased its stake in McDonald’s by 4.
2% in the 4th quarter. 9258 Wealth Management LLC now owns 2,796 shares of the fast-food giant’s stock worth $829,000 after purchasing an additional 113 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in McDonald’s by 19.
1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 803,765 shares of the fast-food giant’s stock worth $238,324,000 after purchasing an additional 128,808 shares in the last quarter. Finally, CWA Asset Management Group LLC raised its holdings in McDonald’s by 6.
9% during the 4th quarter. CWA Asset Management Group LLC now owns 58,419 shares of the fast-food giant’s stock worth $17,322,000 after buying an additional 3,782 shares during the period. Institutional investors and hedge funds own 70.
29% of the company’s stock. McDonald’s Stock Up 0.0 % NYSE:MCD opened at $303.
69 on Monday. The company’s 50 day moving average is $281.71 and its 200-day moving average is $270.
93. McDonald’s Co. has a 12 month low of $243.
53 and a 12 month high of $306.96. The firm has a market cap of $218.
86 billion, a price-to-earnings ratio of 25.78, a P/E/G ratio of 3.99 and a beta of 0.
72. McDonald’s Increases Dividend The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.
77 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.67.
The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.
33%. McDonald’s’s dividend payout ratio is presently 56.71%.
Wall Street Analysts Forecast Growth Several research analysts have commented on the stock. KeyCorp dropped their target price on shares of McDonald’s from $310.00 to $305.
00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Robert W. Baird lifted their price objective on shares of McDonald’s from $280.
00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co.
increased their target price on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, September 16th.
Bank of America decreased their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th.
Finally, Citigroup upped their price target on McDonald’s from $275.00 to $301.00 and gave the company a “neutral” rating in a research report on Friday, September 13th.
Eleven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $308.
22. Check Out Our Latest Stock Report on MCD Insider Buying and Selling at McDonald’s In other news, CEO Christopher J. Kempczinski sold 9,291 shares of the company’s stock in a transaction that occurred on Friday, September 27th.
The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00.
Following the completion of the transaction, the chief executive officer now directly owns 43,256 shares in the company, valued at $13,193,080. The sale was disclosed in a filing with the SEC, which can be accessed through this link . In other news, CEO Christopher J.
Kempczinski sold 9,291 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $305.00, for a total transaction of $2,833,755.
00. Following the completion of the transaction, the chief executive officer now owns 43,256 shares of the company’s stock, valued at $13,193,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link .
Also, CFO Ian Frederick Borden sold 5,939 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.04, for a total transaction of $1,781,937.
56. Following the completion of the sale, the chief financial officer now owns 20,403 shares of the company’s stock, valued at approximately $6,121,716.12.
The disclosure for this sale can be found here . Insiders have sold 33,249 shares of company stock valued at $9,865,866 in the last 90 days. 0.
23% of the stock is currently owned by insiders. McDonald’s Profile ( Free Report ) McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.
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