Tiaa Fsb Acquires 32,924 Shares of Mcdonald’s Corp (NYSE:MCD)
Tiaa Fsb lifted its holdings in Mcdonald’s Corp (NYSE:MCD) by 66.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,765 shares of the fast-food giant’s stock after buying an additional 32,924 shares during the quarter. Tiaa Fsb’s holdings in Mcdonald’s were worth $17,771,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Paulson Wealth Management Inc. raised its holdings in Mcdonald’s by 8.0% in the first quarter. Paulson Wealth Management Inc. now owns 2,034 shares of the fast-food giant’s stock valued at $386,000 after acquiring an additional 150 shares in the last quarter. North Point Portfolio Managers Corp OH acquired a new position in Mcdonald’s during the first quarter valued at approximately $206,000. Enterprise Bank & Trust Co acquired a new position in Mcdonald’s during the first quarter valued at approximately $524,000. Oppenheimer & Co. Inc. grew its holdings in Mcdonald’s by 3.9% during the first quarter. Oppenheimer & Co. Inc. now owns 46,024 shares of the fast-food giant’s stock valued at $8,740,000 after purchasing an additional 1,723 shares during the last quarter. Finally, Mechanics Bank Trust Department grew its holdings in Mcdonald’s by 2.4% during the first quarter. Mechanics Bank Trust Department now owns 47,724 shares of the fast-food giant’s stock valued at $9,062,000 after purchasing an additional 1,125 shares during the last quarter. Hedge funds and other institutional investors own 67.60% of the company’s stock.
MCD traded up $1.25 during trading hours on Wednesday, reaching $212.36. The company’s stock had a trading volume of 12,839 shares, compared to its average volume of 3,114,504. Mcdonald’s Corp has a 52 week low of $161.82 and a 52 week high of $221.93. The company’s 50-day moving average is $214.05 and its 200-day moving average is $205.63. The firm has a market cap of $160.77 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 3.14 and a beta of 0.49.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from Mcdonald’s’s previous quarterly dividend of $1.16. Mcdonald’s’s dividend payout ratio is 58.73%.
In other Mcdonald’s news, EVP Silvia Lagnado sold 26,649 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 40,129 shares of the company’s stock, valued at approximately $8,530,622.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Catherine A. Hoovel sold 457 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $218.15, for a total value of $99,694.55. Following the completion of the transaction, the vice president now directly owns 1,348 shares in the company, valued at $294,066.20. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently issued reports on the stock. Wells Fargo & Co raised their price objective on shares of Mcdonald’s from $235.00 to $237.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Cowen boosted their target price on Mcdonald’s from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Barclays set a $230.00 target price on Mcdonald’s and gave the stock a “buy” rating in a research report on Friday, July 26th. Cleveland Research restated a “hold” rating on shares of Mcdonald’s in a research report on Friday, July 12th. Finally, BTIG Research boosted their target price on Mcdonald’s from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Nine analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Mcdonald’s presently has a consensus rating of “Buy” and a consensus target price of $221.19.
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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