Jag Capital Management LLC Raises Stock Position in Mcdonald’s Corp (NYSE:MCD)
Jag Capital Management LLC raised its stake in shares of Mcdonald’s Corp (NYSE:MCD) by 114.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,848 shares of the fast-food giant’s stock after purchasing an additional 1,518 shares during the period. Jag Capital Management LLC’s holdings in Mcdonald’s were worth $591,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCD. Gryphon Financial Partners LLC bought a new position in shares of Mcdonald’s in the fourth quarter valued at approximately $839,000. Bruderman Asset Management LLC lifted its holdings in shares of Mcdonald’s by 5.9% in the fourth quarter. Bruderman Asset Management LLC now owns 41,962 shares of the fast-food giant’s stock valued at $7,451,000 after purchasing an additional 2,348 shares in the last quarter. Truehand Inc bought a new position in shares of Mcdonald’s in the fourth quarter valued at approximately $3,398,000. Eagle Asset Management Inc. lifted its holdings in shares of Mcdonald’s by 13.4% in the fourth quarter. Eagle Asset Management Inc. now owns 567,205 shares of the fast-food giant’s stock valued at $100,718,000 after purchasing an additional 67,243 shares in the last quarter. Finally, NEXT Financial Group Inc lifted its holdings in shares of Mcdonald’s by 56.1% in the fourth quarter. NEXT Financial Group Inc now owns 5,031 shares of the fast-food giant’s stock valued at $893,000 after purchasing an additional 1,808 shares in the last quarter. 67.99% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently commented on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $34.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday. SunTrust Banks increased their price target on Mcdonald’s to $230.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Mizuho increased their price target on Mcdonald’s from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Monday. Barclays set a $82.00 price target on Baxter International and gave the company a “hold” rating in a research report on Friday. Finally, Stephens assumed coverage on SharpSpring in a research report on Monday. They set an “equal weight” rating and a $11.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Mcdonald’s has a consensus rating of “Buy” and an average price target of $219.23.
NYSE:MCD traded down $1.12 during trading hours on Tuesday, reaching $213.86. The stock had a trading volume of 64,767 shares, compared to its average volume of 2,382,118. The stock has a 50 day moving average of $209.55. Mcdonald’s Corp has a 12-month low of $153.13 and a 12-month high of $218.96. The firm has a market capitalization of $164.61 billion, a PE ratio of 27.09, a P/E/G ratio of 3.10 and a beta of 0.51.
Mcdonald’s (NYSE:MCD) last released its earnings results on Friday, July 26th. The fast-food giant reported $2.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.01). Mcdonald’s had a negative return on equity of 92.99% and a net margin of 28.32%. The firm had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.34 billion. During the same period in the prior year, the business earned $1.99 earnings per share. The business’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities research analysts forecast that Mcdonald’s Corp will post 8.01 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 given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, August 30th. Mcdonald’s’s dividend payout ratio is currently 58.73%.
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: Dividend Achievers
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).
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.