McDonald’s Corporation (MCD) Position Reduced by 1ST Source Bank

1ST Source Bank lowered its position in McDonald’s Corporation (NYSE:MCD) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,611 shares of the fast-food giant’s stock after selling 260 shares during the period. McDonald’s Corporation comprises approximately 0.7% of 1ST Source Bank’s holdings, making the stock its 23rd largest position. 1ST Source Bank’s holdings in McDonald’s Corporation were worth $7,905,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Orrstown Financial Services Inc. lifted its position in McDonald’s Corporation by 17.2% in the second quarter. Orrstown Financial Services Inc. now owns 709 shares of the fast-food giant’s stock valued at $108,000 after purchasing an additional 104 shares during the period. Proficio Capital Partners LLC lifted its position in McDonald’s Corporation by 87.8% in the first quarter. Proficio Capital Partners LLC now owns 740 shares of the fast-food giant’s stock valued at $111,000 after purchasing an additional 346 shares during the period. Vigilant Capital Management LLC lifted its position in McDonald’s Corporation by 9.4% in the first quarter. Vigilant Capital Management LLC now owns 977 shares of the fast-food giant’s stock valued at $127,000 after purchasing an additional 84 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in McDonald’s Corporation in the first quarter valued at about $146,000. Finally, Acrospire Investment Management LLC acquired a new stake in McDonald’s Corporation in the second quarter valued at about $153,000. Hedge funds and other institutional investors own 67.92% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “McDonald’s Corporation (MCD) Position Reduced by 1ST Source Bank” was published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this article on another website, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this article can be accessed at https://www.chaffeybreeze.com/2017/09/21/mcdonalds-corporation-mcd-position-reduced-by-1st-source-bank.html.

In other McDonald’s Corporation news, CFO Kevin M. Ozan sold 25,322 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $158.50, for a total value of $4,013,537.00. Following the transaction, the chief financial officer now owns 24,039 shares in the company, valued at approximately $3,810,181.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Douglas M. Goare sold 17,286 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $158.50, for a total transaction of $2,739,831.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,938 shares of company stock worth $11,033,009. Company insiders own 0.24% of the company’s stock.

McDonald’s Corporation (NYSE MCD) opened at 159.88 on Thursday. The firm has a market cap of $129.50 billion, a price-to-earnings ratio of 26.17 and a beta of 0.70. The firm has a 50 day moving average of $157.70 and a 200-day moving average of $147.07. McDonald’s Corporation has a one year low of $110.33 and a one year high of $161.72.

McDonald’s Corporation (NYSE:MCD) last released its quarterly earnings data on Tuesday, July 25th. The fast-food giant reported $1.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.08. The firm had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.96 billion. McDonald’s Corporation had a net margin of 21.00% and a negative return on equity of 264.89%. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.45 EPS. Equities research analysts forecast that McDonald’s Corporation will post $6.55 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Shareholders of record on Friday, September 1st were paid a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $3.76 annualized dividend and a yield of 2.35%. McDonald’s Corporation’s dividend payout ratio is presently 61.54%.

A number of equities research analysts recently commented on MCD shares. Nomura set a $172.00 price objective on shares of McDonald’s Corporation and gave the company a “buy” rating in a research report on Wednesday, July 19th. Wells Fargo & Company restated an “outperform” rating and issued a $175.00 price objective (up previously from $165.00) on shares of McDonald’s Corporation in a research report on Monday, June 26th. Royal Bank Of Canada set a $170.00 price objective on shares of McDonald’s Corporation and gave the company a “buy” rating in a research report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) set a $174.00 price objective on shares of McDonald’s Corporation and gave the company a “buy” rating in a research report on Thursday, July 27th. Finally, Mizuho started coverage on shares of McDonald’s Corporation in a research report on Thursday, June 8th. They issued a “buy” rating and a $168.00 price objective for the company. Twelve investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $162.26.

McDonald’s Corporation Company Profile

McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.

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

Receive News & Ratings for McDonald's Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDonald's Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply