McDonald’s Co. (NYSE:MCD) Position Trimmed by Manchester Capital Management LLC

Manchester Capital Management LLC decreased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 19.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,804 shares of the fast-food giant’s stock after selling 2,082 shares during the period. Manchester Capital Management LLC’s holdings in McDonald’s were worth $1,932,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MCD. Charles Schwab Investment Management Inc. increased its stake in McDonald’s by 33.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,529,724 shares of the fast-food giant’s stock valued at $835,598,000 after purchasing an additional 1,144,343 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of McDonald’s by 15.2% during the second quarter. Bank of New York Mellon Corp now owns 8,308,005 shares of the fast-food giant’s stock worth $1,532,576,000 after acquiring an additional 1,096,425 shares during the last quarter. Nordea Investment Management AB grew its position in shares of McDonald’s by 626.4% during the second quarter. Nordea Investment Management AB now owns 1,118,018 shares of the fast-food giant’s stock worth $204,502,000 after acquiring an additional 964,105 shares during the last quarter. APG Asset Management N.V. grew its position in shares of McDonald’s by 32.4% during the first quarter. APG Asset Management N.V. now owns 3,041,874 shares of the fast-food giant’s stock worth $502,974,000 after acquiring an additional 743,607 shares during the last quarter. Finally, Holocene Advisors LP grew its position in shares of McDonald’s by 209.5% during the second quarter. Holocene Advisors LP now owns 736,269 shares of the fast-food giant’s stock worth $135,820,000 after acquiring an additional 498,385 shares during the last quarter. Hedge funds and other institutional investors own 66.07% of the company’s stock.

Several research firms have recently commented on MCD. Wells Fargo & Company upped their price target on shares of McDonald’s from $222.00 to $244.00 and gave the stock an “overweight” rating in a research report on Thursday, October 1st. Zacks Investment Research lowered shares of McDonald’s from a “buy” rating to a “hold” rating and set a $238.00 price target for the company. in a research report on Tuesday, October 13th. JPMorgan Chase & Co. upped their price objective on shares of McDonald’s from $205.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, October 20th. Bank of America upped their price objective on shares of McDonald’s from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, October 5th. Finally, Piper Sandler upped their price objective on shares of McDonald’s from $197.00 to $203.00 and gave the stock a “neutral” rating in a report on Monday, September 14th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. McDonald’s currently has an average rating of “Buy” and a consensus price target of $222.00.

MCD stock opened at $214.95 on Friday. McDonald’s Co. has a one year low of $124.23 and a one year high of $231.91. The firm has a market capitalization of $159.94 billion, a PE ratio of 34.07, a P/E/G ratio of 5.23 and a beta of 0.67. The firm has a 50-day moving average of $222.74 and a two-hundred day moving average of $199.84.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, July 28th. The fast-food giant reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.10). McDonald’s had a net margin of 24.78% and a negative return on equity of 52.78%. The firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the prior year, the company posted $2.05 earnings per share. McDonald’s’s quarterly revenue was down 29.6% compared to the same quarter last year. As a group, analysts forecast that McDonald’s Co. will post 5.98 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $1.29 per share. The ex-dividend date is Monday, November 30th. This is a positive change from McDonald’s’s previous quarterly dividend of $1.25. This represents a $5.16 dividend on an annualized basis and a yield of 2.40%. McDonald’s’s dividend payout ratio is currently 63.78%.

About McDonald’s

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products and beverages, as well as breakfast menu. As of December 31, 2019, the company operated 38,695 restaurants. McDonald's Corporation was founded in 1940 and is based in Chicago, Illinois.

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

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