Toronto Dominion Bank Buys 3,955 Shares of Mcdonald’s Corp (NYSE:MCD)
Toronto Dominion Bank lifted its stake in shares of Mcdonald’s Corp (NYSE:MCD) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 540,043 shares of the fast-food giant’s stock after acquiring an additional 3,955 shares during the quarter. Toronto Dominion Bank owned approximately 0.07% of Mcdonald’s worth $73,943,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of Mcdonald’s by 45.1% in the 1st quarter. Wellington Management Group LLP now owns 30,036,309 shares of the fast-food giant’s stock worth $4,966,504,000 after buying an additional 9,342,704 shares during the period. Magellan Asset Management Ltd lifted its stake in Mcdonald’s by 62.3% in the first quarter. Magellan Asset Management Ltd now owns 5,690,799 shares of the fast-food giant’s stock worth $940,974,000 after acquiring an additional 2,184,908 shares during the period. Advisor Group Holdings Inc. bought a new position in Mcdonald’s during the 1st quarter worth about $54,127,000. Charles Schwab Investment Management Inc. increased its position in Mcdonald’s by 33.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,529,724 shares of the fast-food giant’s stock valued at $835,598,000 after purchasing an additional 1,144,343 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Mcdonald’s by 15.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,308,005 shares of the fast-food giant’s stock valued at $1,532,576,000 after purchasing an additional 1,096,425 shares in the last quarter. Hedge funds and other institutional investors own 66.07% of the company’s stock.
MCD has been the topic of several recent research reports. KeyCorp increased their target price on Mcdonald’s from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, August 18th. JPMorgan Chase & Co. boosted their target price on shares of Mcdonald’s from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Wells Fargo & Company raised their price target on shares of Mcdonald’s from $209.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, June 16th. Jefferies Financial Group boosted their price objective on shares of Mcdonald’s from $208.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Finally, Piper Sandler raised their target price on shares of Mcdonald’s from $197.00 to $203.00 and gave the company a “neutral” rating in a research note on Monday. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $212.80.
Mcdonald’s (NYSE:MCD) last issued its earnings results on Tuesday, July 28th. The fast-food giant reported $0.66 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.10). Mcdonald’s had a net margin of 24.78% and a negative return on equity of 52.78%. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter last year, the company earned $2.05 earnings per share. Mcdonald’s’s quarterly revenue was down 29.6% on a year-over-year basis. Research analysts expect that Mcdonald’s Corp will post 5.85 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, August 31st. Mcdonald’s’s dividend payout ratio is currently 63.78%.
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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