Tocqueville Asset Management L.P. Reduces Stock Position in Mcdonald’s Corp (NYSE:MCD)
Tocqueville Asset Management L.P. lessened its position in shares of Mcdonald’s Corp (NYSE:MCD) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 312,416 shares of the fast-food giant’s stock after selling 1,426 shares during the quarter. Mcdonald’s accounts for 0.8% of Tocqueville Asset Management L.P.’s portfolio, making the stock its 19th largest position. Tocqueville Asset Management L.P.’s holdings in Mcdonald’s were worth $64,876,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Litman Gregory Asset Management LLC purchased a new stake in shares of Mcdonald’s in the second quarter worth about $27,000. Atlas Capital Advisors LLC raised its holdings in Mcdonald’s by 330.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 142 shares of the fast-food giant’s stock worth $29,000 after purchasing an additional 109 shares during the period. Westside Investment Management Inc. acquired a new position in Mcdonald’s in the 2nd quarter worth about $34,000. Aspire Private Capital LLC acquired a new position in Mcdonald’s in the 4th quarter worth about $32,000. Finally, Canton Hathaway LLC acquired a new position in Mcdonald’s in the 1st quarter worth about $35,000. Institutional investors and hedge funds own 68.21% of the company’s stock.
In related news, EVP Silvia Lagnado sold 26,649 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $212.58, for a total value of $5,665,044.42. Following the completion of the sale, the executive vice president now owns 40,129 shares of the company’s stock, valued at $8,530,622.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ian Frederick Borden sold 4,149 shares of the stock in a transaction that occurred on 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. 0.25% of the stock is owned by corporate insiders.
Mcdonald’s (NYSE:MCD) last announced 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 92.02%. The firm had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.34 billion. During the same period in the previous year, the company earned $1.99 EPS. Mcdonald’s’s revenue was down .2% compared to the same quarter last year. As a group, equities analysts anticipate that Mcdonald’s Corp will post 8 earnings per share for the current 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 issued a dividend of $1.16 per share. The ex-dividend date is Friday, August 30th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.11%. Mcdonald’s’s payout ratio is currently 58.73%.
A number of equities analysts recently weighed in on MCD shares. Credit Suisse Group upped their price target on Mcdonald’s from $230.00 to $236.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. They noted that the move was a valuation call. Zacks Investment Research raised Mcdonald’s from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Cleveland Research reaffirmed a “hold” rating on shares of Mcdonald’s in a report on Friday, July 12th. Goldman Sachs Group started coverage on Mcdonald’s in a report on Monday, July 29th. They issued a “buy” rating and a $250.00 price target for the company. Finally, Stephens upped their price target on Mcdonald’s from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Eight analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Mcdonald’s currently has a consensus rating of “Buy” and a consensus target price of $220.23.
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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