NuWave Investment Management LLC Sells 2,605 Shares of Mcdonald’s Corp (NYSE:MCD)

NuWave Investment Management LLC decreased its stake in Mcdonald’s Corp (NYSE:MCD) by 86.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396 shares of the fast-food giant’s stock after selling 2,605 shares during the period. NuWave Investment Management LLC’s holdings in Mcdonald’s were worth $82,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCD. Prime Capital Investment Advisors LLC raised its stake in shares of Mcdonald’s by 39.5% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 600 shares of the fast-food giant’s stock worth $107,000 after buying an additional 170 shares in the last quarter. Bremer Trust National Association raised its stake in shares of Mcdonald’s by 1.8% in the 4th quarter. Bremer Trust National Association now owns 14,641 shares of the fast-food giant’s stock worth $2,600,000 after buying an additional 260 shares in the last quarter. South State Corp raised its stake in shares of Mcdonald’s by 6.7% in the 4th quarter. South State Corp now owns 34,515 shares of the fast-food giant’s stock worth $6,129,000 after buying an additional 2,176 shares in the last quarter. Strategic Financial Services Inc raised its stake in shares of Mcdonald’s by 6.2% in the 4th quarter. Strategic Financial Services Inc now owns 1,808 shares of the fast-food giant’s stock worth $321,000 after buying an additional 106 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Mcdonald’s by 58.7% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 883,953 shares of the fast-food giant’s stock worth $156,964,000 after purchasing an additional 326,856 shares during the period. Institutional investors own 67.99% of the company’s stock.

Shares of MCD stock opened at $211.74 on Wednesday. Mcdonald’s Corp has a 1-year low of $153.13 and a 1-year high of $218.96. The stock has a market capitalization of $164.61 billion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 3.10 and a beta of 0.51. The company’s fifty day simple moving average is $209.81.

Mcdonald’s (NYSE:MCD) last issued its earnings results on Friday, July 26th. The fast-food giant reported $2.05 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). Mcdonald’s had a net margin of 28.32% and a negative return on equity of 92.99%. The firm had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.34 billion. During the same quarter last year, the firm earned $1.99 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, sell-side analysts forecast that Mcdonald’s Corp will post 8.01 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a $1.16 dividend. The ex-dividend date is Friday, August 30th. This represents a $4.64 dividend on an annualized basis and a yield of 2.19%. Mcdonald’s’s dividend payout ratio (DPR) is currently 58.73%.

In other Mcdonald’s news, insider Christopher J. Kempczinski sold 38,729 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $195.21, for a total value of $7,560,288.09. Following the transaction, the insider now owns 11,658 shares in the company, valued at $2,275,758.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ian Frederick Borden sold 4,149 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $199.22, for a total value of $826,563.78. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

MCD has been the topic of a number of recent analyst reports. Mizuho boosted their target price on Mcdonald’s from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday. Longbow Research lowered Mcdonald’s from a “buy” rating to a “neutral” rating and cut their target price for the stock from $200.00 to $197.00 in a research report on Wednesday, May 1st. They noted that the move was a valuation call. Piper Jaffray Companies set a $173.00 target price on DexCom and gave the stock a “buy” rating in a research report on Monday, July 15th. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Mcdonald’s in a research report on Friday, July 26th. Finally, SunTrust Banks boosted their target price on Mcdonald’s to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $219.23.

Mcdonald’s Company Profile

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, 2018, the company operated 37,855 restaurants, including 35,085 franchised restaurants comprising 21,685 franchised to conventional franchisees, 7,225 licensed to developmental licensees, and 6,175 licensed to foreign affiliates; and 2,770 company-operated restaurants.

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

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