Wedge Capital Management L L P NC Has $334,000 Stock Position in McDonald’s Co. (NYSE:MCD)

Wedge Capital Management L L P NC lowered its stake in McDonald’s Co. (NYSE:MCDGet Rating) by 6.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,352 shares of the fast-food giant’s stock after selling 99 shares during the period. Wedge Capital Management L L P NC’s holdings in McDonald’s were worth $334,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hodges Capital Management Inc. boosted its position in McDonald’s by 31.3% in the first quarter. Hodges Capital Management Inc. now owns 6,302 shares of the fast-food giant’s stock valued at $1,558,000 after buying an additional 1,502 shares in the last quarter. Dixon Hughes Goodman Wealth Advisors LLC lifted its holdings in shares of McDonald’s by 4.9% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 993 shares of the fast-food giant’s stock worth $246,000 after purchasing an additional 46 shares during the period. Key Financial Inc lifted its holdings in shares of McDonald’s by 3.9% during the first quarter. Key Financial Inc now owns 3,509 shares of the fast-food giant’s stock worth $868,000 after purchasing an additional 131 shares during the period. Compagnie Lombard Odier SCmA lifted its holdings in shares of McDonald’s by 5.1% during the first quarter. Compagnie Lombard Odier SCmA now owns 52,469 shares of the fast-food giant’s stock worth $12,970,000 after purchasing an additional 2,553 shares during the period. Finally, Journey Strategic Wealth LLC lifted its holdings in shares of McDonald’s by 5.4% during the first quarter. Journey Strategic Wealth LLC now owns 1,846 shares of the fast-food giant’s stock worth $457,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 67.27% of the company’s stock.

Insider Activity at McDonald’s

In other McDonald’s news, insider Ian Frederick Borden sold 5,320 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $265.00, for a total transaction of $1,409,800.00. Following the completion of the sale, the insider now owns 7,131 shares of the company’s stock, valued at approximately $1,889,715. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other McDonald’s news, insider Ian Frederick Borden sold 5,320 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $265.00, for a total transaction of $1,409,800.00. Following the completion of the sale, the insider now owns 7,131 shares of the company’s stock, valued at approximately $1,889,715. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Catherine A. Hoovel sold 2,371 shares of the stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $255.62, for a total transaction of $606,075.02. Following the sale, the senior vice president now directly owns 1,184 shares of the company’s stock, valued at approximately $302,654.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,191 shares of company stock valued at $5,250,365. Insiders own 0.18% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $251.08 on Thursday. The company’s fifty day moving average price is $258.32 and its 200-day moving average price is $249.34. The firm has a market capitalization of $184.72 billion, a price-to-earnings ratio of 30.92, a PEG ratio of 3.12 and a beta of 0.57. McDonald’s Co. has a one year low of $217.68 and a one year high of $271.15.

McDonald’s (NYSE:MCDGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The fast-food giant reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $5.72 billion for the quarter, compared to analyst estimates of $5.82 billion. McDonald’s had a net margin of 25.77% and a negative return on equity of 129.90%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.37 EPS. As a group, equities research analysts expect that McDonald’s Co. will post 9.83 EPS for the current year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, September 1st were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, August 31st. McDonald’s’s payout ratio is 67.98%.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of recent research reports. Cowen lifted their price target on shares of McDonald’s from $275.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Jefferies Financial Group cut their price target on shares of McDonald’s from $306.00 to $298.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Royal Bank of Canada boosted their target price on shares of McDonald’s from $292.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Tigress Financial boosted their target price on shares of McDonald’s from $314.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday, August 30th. Finally, BMO Capital Markets boosted their target price on shares of McDonald’s from $285.00 to $300.00 and gave the company an “outperform” rating in a report on Tuesday, August 16th. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $285.04.

McDonald’s Profile

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McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.

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

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