Tower Bridge Advisors Sells 55 Shares of Mcdonald’s Corp (NYSE:MCD)

Share on StockTwits

Tower Bridge Advisors cut its stake in Mcdonald’s Corp (NYSE:MCD) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,639 shares of the fast-food giant’s stock after selling 55 shares during the quarter. Mcdonald’s makes up 2.1% of Tower Bridge Advisors’ portfolio, making the stock its 7th biggest holding. Tower Bridge Advisors’ holdings in Mcdonald’s were worth $19,030,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Command Financial Services Inc. boosted its holdings in Mcdonald’s by 2.7% during the second quarter. First Command Financial Services Inc. now owns 1,857 shares of the fast-food giant’s stock valued at $386,000 after acquiring an additional 48 shares during the period. Graves Light Private Wealth Management Inc. boosted its holdings in Mcdonald’s by 1.5% during the second quarter. Graves Light Private Wealth Management Inc. now owns 3,428 shares of the fast-food giant’s stock valued at $712,000 after acquiring an additional 49 shares during the period. Gilman Hill Asset Management LLC boosted its holdings in Mcdonald’s by 2.2% during the second quarter. Gilman Hill Asset Management LLC now owns 2,344 shares of the fast-food giant’s stock valued at $487,000 after acquiring an additional 50 shares during the period. Duncker Streett & Co. Inc. boosted its holdings in Mcdonald’s by 1.9% during the second quarter. Duncker Streett & Co. Inc. now owns 2,698 shares of the fast-food giant’s stock valued at $560,000 after acquiring an additional 50 shares during the period. Finally, Legacy Private Trust Co. boosted its holdings in Mcdonald’s by 1.1% during the second quarter. Legacy Private Trust Co. now owns 4,678 shares of the fast-food giant’s stock valued at $971,000 after acquiring an additional 52 shares during the period. 68.25% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on MCD shares. Longbow Research cut shares of Mcdonald’s from a “buy” rating to a “neutral” rating and decreased their price target for the company from $200.00 to $197.00 in a report on Wednesday, May 1st. They noted that the move was a valuation call. JPMorgan Chase & Co. upped their price target on shares of Mcdonald’s from $195.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, June 28th. MKM Partners started coverage on shares of Mcdonald’s in a report on Tuesday, August 13th. They set a “buy” rating and a $250.00 price target for the company. BMO Capital Markets upped their price target on shares of Mcdonald’s to $230.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, Piper Jaffray Companies increased their target price on shares of Mcdonald’s from $209.00 to $226.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Eight research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Mcdonald’s presently has a consensus rating of “Buy” and an average target price of $220.55.

MCD traded down $3.00 during midday trading on Friday, reaching $216.49. 141,018 shares of the company’s stock were exchanged, compared to its average volume of 3,318,009. The firm has a market capitalization of $165.92 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 3.24 and a beta of 0.49. Mcdonald’s Corp has a one year low of $156.56 and a one year high of $221.93. The business has a 50-day simple moving average of $215.13 and a two-hundred day simple moving average of $198.03.

Mcdonald’s (NYSE:MCD) last announced its quarterly 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). The business had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.34 billion. Mcdonald’s had a negative return on equity of 92.02% and a net margin of 28.32%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.99 EPS. Analysts predict that Mcdonald’s Corp will post 8.01 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, August 30th. Mcdonald’s’s dividend payout ratio is 58.73%.

In other news, VP Catherine A. Hoovel sold 457 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $218.15, for a total transaction of $99,694.55. Following the completion of the sale, the vice president now owns 1,348 shares of the company’s stock, valued at $294,066.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Silvia Lagnado sold 26,649 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $212.58, for a total transaction of $5,665,044.42. Following the sale, the executive vice president now directly owns 40,129 shares of the company’s stock, valued at approximately $8,530,622.82. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

About Mcdonald’s

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.

Featured Story: What are municipal bonds?

Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mcdonald’s Corp (NYSE:MCD).

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

Receive News & Ratings for Mcdonald's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mcdonald's and related companies with MarketBeat.com's FREE daily email newsletter.