The Grimes & Company Inc. Increases Position in McDonald’s Corp. (MCD)

The Grimes & Company Inc. Increases Position in McDonald’s Corp. (MCD)

Grimes & Company Inc. raised its position in McDonald’s Corp. (NYSE:MCD) by 5.1% during the second quarter, Holdings Channel reports. The institutional investor owned 11,414 shares of the fast-food giant’s stock after buying an additional 551 shares during the period. Grimes & Company Inc.’s holdings in McDonald’s Corp. were worth $1,374,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Meristem LLP increased its stake in McDonald’s Corp. by 1.2% in the first quarter. Meristem LLP now owns 3,580 shares of the fast-food giant’s stock worth $450,000 after buying an additional 44 shares during the last quarter. Glenmede Trust Co. NA increased its stake in McDonald’s Corp. by 39.8% in the first quarter. Glenmede Trust Co. NA now owns 419,583 shares of the fast-food giant’s stock worth $52,732,000 after buying an additional 119,410 shares during the last quarter. Wade G W & Inc. increased its stake in McDonald’s Corp. by 2.1% in the first quarter. Wade G W & Inc. now owns 39,574 shares of the fast-food giant’s stock worth $4,974,000 after buying an additional 824 shares during the last quarter. RKL Wealth Management LLC increased its stake in McDonald’s Corp. by 15.1% in the first quarter. RKL Wealth Management LLC now owns 45,357 shares of the fast-food giant’s stock worth $5,700,000 after buying an additional 5,943 shares during the last quarter. Finally, Chesley Taft & Associates LLC increased its stake in McDonald’s Corp. by 0.9% in the first quarter. Chesley Taft & Associates LLC now owns 32,250 shares of the fast-food giant’s stock worth $4,053,000 after buying an additional 285 shares during the last quarter. 69.10% of the stock is currently owned by institutional investors.

McDonald’s Corp. (NYSE:MCD) traded up 0.91% during trading on Wednesday, hitting $114.71. The stock had a trading volume of 3,340,066 shares. McDonald’s Corp. has a 12-month low of $101.60 and a 12-month high of $131.96. The stock’s 50 day moving average price is $115.40 and its 200 day moving average price is $121.55. The firm has a market cap of $97.89 billion, a P/E ratio of 21.90 and a beta of 0.61.

McDonald’s Corp. (NYSE:MCD) last posted its earnings results on Tuesday, July 26th. The fast-food giant reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.06. McDonald’s Corp. had a return on equity of 97.56% and a net margin of 18.73%. The business earned $6.27 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period in the previous year, the business earned $1.26 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. On average, analysts anticipate that McDonald’s Corp. will post $5.56 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 3.28%. The ex-dividend date is Tuesday, November 29th. This is a boost from McDonald’s Corp.’s previous quarterly dividend of $0.89. McDonald’s Corp.’s payout ratio is 68.59%.

Several equities analysts have recently weighed in on MCD shares. JPMorgan Chase & Co. set a $130.00 target price on McDonald’s Corp. and gave the company a “buy” rating in a research report on Tuesday, July 12th. RBC Capital Markets reissued a “buy” rating and set a $140.00 target price on shares of McDonald’s Corp. in a research report on Friday, July 22nd. Vetr raised McDonald’s Corp. from a “hold” rating to a “buy” rating and set a $128.73 target price on the stock in a research report on Tuesday, July 26th. Deutsche Bank AG cut their target price on McDonald’s Corp. from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, July 27th. Finally, SunTrust Banks Inc. set a $138.00 price objective on McDonald’s Corp. and gave the company a “buy” rating in a report on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $126.01.

In related news, Chairman Andrew J. Mckenna sold 70,000 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $118.28, for a total value of $8,279,600.00. Following the transaction, the chairman now owns 108,841 shares in the company, valued at approximately $12,873,713.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.28% of the stock is owned by corporate insiders.

About McDonald’s Corp.

McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally-relevant menu of quality 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.

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