Salem Investment Counselors Inc. Reduces Position in Mcdonald’s Corp (MCD)
Salem Investment Counselors Inc. lessened its holdings in shares of Mcdonald’s Corp (NYSE:MCD) by 6.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 43,355 shares of the fast-food giant’s stock after selling 2,744 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Mcdonald’s were worth $6,793,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Rainier Group Investment Advisory LLC purchased a new stake in Mcdonald’s during the 1st quarter valued at about $102,000. Elmwood Wealth Management Inc. purchased a new stake in Mcdonald’s during the 1st quarter valued at about $104,000. CSat Investment Advisory L.P. purchased a new stake in Mcdonald’s during the 2nd quarter valued at about $104,000. CX Institutional purchased a new stake in Mcdonald’s during the 2nd quarter valued at about $109,000. Finally, Quad Cities Investment Group LLC purchased a new stake in Mcdonald’s during the 2nd quarter valued at about $110,000. 66.99% of the stock is owned by institutional investors.
NYSE:MCD opened at $160.84 on Monday. The company has a debt-to-equity ratio of -5.24, a current ratio of 1.47 and a quick ratio of 1.45. The company has a market cap of $127.81 billion, a P/E ratio of 24.15, a P/E/G ratio of 2.45 and a beta of 0.66. Mcdonald’s Corp has a fifty-two week low of $146.84 and a fifty-two week high of $178.70.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th will be given a dividend of $1.01 per share. The ex-dividend date is Friday, August 31st. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.51%. Mcdonald’s’s payout ratio is currently 60.66%.
MCD has been the subject of several research reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $175.00 price objective on shares of Mcdonald’s in a research note on Friday, May 25th. Nomura raised shares of Mcdonald’s from a “neutral” rating to a “buy” rating and set a $191.00 price objective for the company in a research note on Thursday, June 7th. Citigroup increased their price target on shares of Mcdonald’s from $176.00 to $178.00 and gave the company a “neutral” rating in a research note on Thursday, June 14th. Wells Fargo & Co reissued a “buy” rating and issued a $185.00 price target on shares of Mcdonald’s in a research note on Thursday, June 21st. Finally, Cleveland Research cut shares of Mcdonald’s from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $182.29.
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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