ClariVest Asset Management LLC trimmed its holdings in Mcdonald’s Corp (NYSE:MCD) by 22.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 371,751 shares of the fast-food giant’s stock after selling 106,728 shares during the quarter. Mcdonald’s accounts for about 1.0% of ClariVest Asset Management LLC’s holdings, making the stock its 20th biggest holding. ClariVest Asset Management LLC’s holdings in Mcdonald’s were worth $58,250,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Rainier Group Investment Advisory LLC purchased a new position in shares of Mcdonald’s in the first quarter worth $102,000. Elmwood Wealth Management Inc. purchased a new position in shares of Mcdonald’s in the first quarter worth $104,000. CX Institutional purchased a new position in shares of Mcdonald’s in the second quarter worth $109,000. Quad Cities Investment Group LLC purchased a new position in shares of Mcdonald’s in the second quarter worth $110,000. Finally, Country Trust Bank increased its stake in shares of Mcdonald’s by 518.9% in the first quarter. Country Trust Bank now owns 755 shares of the fast-food giant’s stock worth $118,000 after buying an additional 633 shares during the period. Hedge funds and other institutional investors own 70.10% of the company’s stock.
Several brokerages recently commented on MCD. Imperial Capital decreased their target price on shares of Mcdonald’s from $190.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, July 27th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $175.00 target price on shares of Mcdonald’s in a research note on Thursday, August 16th. Wells Fargo & Co lifted their target price on shares of Mcdonald’s from $180.00 to $185.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 8th. Nomura raised shares of Mcdonald’s from a “neutral” rating to a “buy” rating and set a $191.00 target price on the stock in a research note on Thursday, June 7th. Finally, Citigroup lifted their target price on shares of Mcdonald’s from $176.00 to $178.00 and gave the stock a “neutral” rating in a research note on Thursday, June 14th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Mcdonald’s currently has an average rating of “Buy” and an average price target of $181.57.
Shares of Mcdonald’s stock opened at $163.24 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.45 and a debt-to-equity ratio of -5.24. The firm has a market cap of $125.86 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 2.41 and a beta of 0.66. Mcdonald’s Corp has a 12-month low of $146.84 and a 12-month high of $178.70.
Mcdonald’s (NYSE:MCD) last released its earnings results on Thursday, July 26th. The fast-food giant reported $1.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.92 by $0.07. The firm had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.32 billion. Mcdonald’s had a net margin of 25.26% and a negative return on equity of 133.89%. The company’s revenue was down 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 EPS. analysts forecast that Mcdonald’s Corp will post 7.65 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Friday, August 31st. Mcdonald’s’s dividend payout ratio is presently 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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