Huntington National Bank boosted its holdings in Mcdonald’s Corp (NYSE:MCD) by 23.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 282,608 shares of the fast-food giant’s stock after acquiring an additional 54,254 shares during the quarter. Huntington National Bank’s holdings in Mcdonald’s were worth $47,278,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Rainier Group Investment Advisory LLC acquired a new stake in Mcdonald’s in the 1st quarter valued at approximately $102,000. CSat Investment Advisory L.P. acquired a new stake in Mcdonald’s in the 2nd quarter valued at approximately $104,000. CX Institutional acquired a new stake in Mcdonald’s in the 2nd quarter valued at approximately $109,000. Quad Cities Investment Group LLC acquired a new stake in Mcdonald’s in the 2nd quarter valued at approximately $110,000. Finally, Horan Capital Management acquired a new stake in Mcdonald’s in the 2nd quarter valued at approximately $121,000. Hedge funds and other institutional investors own 66.92% of the company’s stock.
MCD has been the subject of a number of research reports. Royal Bank of Canada set a $175.00 price target on Mcdonald’s and gave the company a “buy” rating in a research note on Thursday, July 26th. Morgan Stanley decreased their price target on Mcdonald’s from $169.00 to $167.00 and set an “equal weight” rating for the company in a research note on Friday, July 27th. Wells Fargo & Co decreased their price target on Mcdonald’s from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, July 11th. ValuEngine raised Mcdonald’s from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $178.00 price target on shares of Mcdonald’s in a research note on Tuesday, July 24th. Seven analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $183.29.
Mcdonald’s (NYSE:MCD) last released its quarterly earnings data on Thursday, July 26th. The fast-food giant reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.07. The business had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.32 billion. Mcdonald’s had a negative return on equity of 133.89% and a net margin of 25.26%. The company’s revenue was down 11.5% compared to the same quarter last year. During the same period last year, the company posted $1.73 EPS. Equities research analysts forecast that Mcdonald’s Corp will post 7.64 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a dividend of $1.16 per share. The ex-dividend date is Friday, November 30th. This is a positive change from Mcdonald’s’s previous quarterly dividend of $1.01. This represents a $4.64 annualized dividend and a dividend yield of 2.78%. Mcdonald’s’s dividend payout ratio (DPR) is currently 60.66%.
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2017, the company operated 37,241 restaurants, including 34,108 franchised restaurants comprising 21,366 franchised to conventional franchisees, 6,945 licensed to developmental licensees, and 5,797 licensed to foreign affiliates; and 3,133 company-operated restaurants.
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