Salem Investment Counselors Inc. Reduces Stake in Mcdonald’s Corp (NYSE:MCD)

Salem Investment Counselors Inc. lessened its position in shares of Mcdonald’s Corp (NYSE:MCD) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,882 shares of the fast-food giant’s stock after selling 1,126 shares during the quarter. Mcdonald’s makes up about 0.9% of Salem Investment Counselors Inc.’s investment portfolio, making the stock its 28th largest position. Salem Investment Counselors Inc.’s holdings in Mcdonald’s were worth $7,437,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Marathon Capital Management raised its position in Mcdonald’s by 36.6% in the 4th quarter. Marathon Capital Management now owns 1,717 shares of the fast-food giant’s stock valued at $304,000 after purchasing an additional 460 shares during the last quarter. United Income Inc. bought a new stake in shares of Mcdonald’s during the fourth quarter worth $550,000. Manning & Napier Group LLC raised its position in shares of Mcdonald’s by 5.8% during the fourth quarter. Manning & Napier Group LLC now owns 152,951 shares of the fast-food giant’s stock worth $27,159,000 after acquiring an additional 8,368 shares during the last quarter. Pekin Singer Strauss Asset Management IL raised its position in shares of Mcdonald’s by 28.8% during the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 7,944 shares of the fast-food giant’s stock worth $1,411,000 after acquiring an additional 1,774 shares during the last quarter. Finally, Cozad Asset Management Inc. raised its position in shares of Mcdonald’s by 5.0% during the fourth quarter. Cozad Asset Management Inc. now owns 7,398 shares of the fast-food giant’s stock worth $1,314,000 after acquiring an additional 355 shares during the last quarter. Institutional investors and hedge funds own 69.03% of the company’s stock.

NYSE:MCD traded up $0.12 on Wednesday, reaching $199.96. The company’s stock had a trading volume of 1,473,524 shares, compared to its average volume of 3,203,653. The stock has a market cap of $152.59 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 2.79 and a beta of 0.54. Mcdonald’s Corp has a 1-year low of $153.13 and a 1-year high of $201.15.

Mcdonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.01). The firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.94 billion. Mcdonald’s had a negative return on equity of 95.31% and a net margin of 28.20%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.79 earnings per share. As a group, equities analysts expect that Mcdonald’s Corp will post 8.04 earnings per share for the current year.

MCD has been the subject of a number of recent research reports. Stephens upgraded Mcdonald’s from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $180.00 to $200.00 in a research report on Tuesday, February 19th. Barclays boosted their target price on Mcdonald’s from $208.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Bank of America boosted their target price on Mcdonald’s from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Royal Bank of Canada restated a “buy” rating and set a $205.00 target price on shares of Mcdonald’s in a research report on Wednesday, January 30th. Finally, Zacks Investment Research raised Mcdonald’s from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Mcdonald’s currently has a consensus rating of “Buy” and a consensus target price of $202.39.

In related news, insider Christopher J. Kempczinski sold 38,729 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $195.21, for a total transaction of $7,560,288.09. Following the sale, the insider now owns 11,658 shares in the company, valued at $2,275,758.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ian Frederick Borden sold 4,149 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was 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. Insiders have sold 104,449 shares of company stock valued at $20,458,931 over the last ninety days. 0.25% of the stock is owned by insiders.

ILLEGAL ACTIVITY WARNING: This article was reported by Sundance Herald and is the property of of Sundance Herald. If you are reading this article on another domain, it was copied illegally and republished in violation of United States and international trademark and copyright law. The correct version of this article can be read at https://sundanceherald.com/2019/05/22/salem-investment-counselors-inc-reduces-holdings-in-mcdonalds-corp-mcd.html.

Mcdonald’s 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.

Read More: How is Preferred Stock Different from Common Stock?

Institutional Ownership by Quarter for Mcdonald`s (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.



Leave a Reply