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Evercore Wealth Management LLC Buys 1,964 Shares of McDonald’s Co. (NYSE:MCD)

Evercore Wealth Management LLC boosted its stake in shares of McDonald’s Co. (NYSE:MCDGet Rating) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 340,646 shares of the fast-food giant’s stock after purchasing an additional 1,964 shares during the period. McDonald’s comprises 1.5% of Evercore Wealth Management LLC’s portfolio, making the stock its 26th largest holding. Evercore Wealth Management LLC’s holdings in McDonald’s were worth $84,235,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First Republic Investment Management Inc. lifted its position in McDonald’s by 38.3% during the first quarter. First Republic Investment Management Inc. now owns 679,119 shares of the fast-food giant’s stock valued at $167,933,000 after purchasing an additional 188,198 shares during the period. Guardian Capital Advisors LP raised its position in McDonald’s by 6.5% in the first quarter. Guardian Capital Advisors LP now owns 57,227 shares of the fast-food giant’s stock worth $14,259,000 after acquiring an additional 3,514 shares during the period. Guardian Capital LP raised its position in McDonald’s by 1.9% in the first quarter. Guardian Capital LP now owns 165,099 shares of the fast-food giant’s stock worth $40,826,000 after acquiring an additional 3,049 shares during the period. Guardian Wealth Advisors LLC NC raised its position in McDonald’s by 6.1% in the first quarter. Guardian Wealth Advisors LLC NC now owns 1,172 shares of the fast-food giant’s stock worth $290,000 after acquiring an additional 67 shares during the period. Finally, Harvest Volatility Management LLC raised its position in McDonald’s by 85.5% in the first quarter. Harvest Volatility Management LLC now owns 5,885 shares of the fast-food giant’s stock worth $1,455,000 after acquiring an additional 2,712 shares during the period. Institutional investors own 67.27% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Enrique Hernandez, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $264.02, for a total value of $1,188,090.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Ian Frederick Borden sold 5,320 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $265.00, for a total value of $1,409,800.00. Following the completion of the sale, the insider now owns 7,131 shares in the company, valued at approximately $1,889,715. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Enrique Hernandez, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $264.02, for a total transaction of $1,188,090.00. The disclosure for this sale can be found here. Insiders sold 20,191 shares of company stock valued at $5,250,365 in the last three months. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MCD shares. Atlantic Securities upgraded shares of McDonald’s from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $245.00 to $278.00 in a research report on Wednesday, June 29th. Jefferies Financial Group decreased their price target on shares of McDonald’s from $306.00 to $298.00 and set a “buy” rating on the stock in a research report on Wednesday, July 27th. BMO Capital Markets increased their price target on shares of McDonald’s from $285.00 to $300.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 16th. Robert W. Baird set a $285.00 price target on shares of McDonald’s in a research report on Tuesday, July 19th. Finally, Credit Suisse Group raised their price objective on shares of McDonald’s from $285.00 to $287.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $285.04.

McDonald’s Stock Up 0.3 %

Shares of NYSE:MCD opened at $260.37 on Tuesday. McDonald’s Co. has a 52 week low of $217.68 and a 52 week high of $271.15. The stock has a market capitalization of $191.56 billion, a P/E ratio of 32.07, a PEG ratio of 3.16 and a beta of 0.57. The firm has a fifty day simple moving average of $257.88 and a two-hundred day simple moving average of $248.66.

McDonald’s (NYSE:MCDGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The fast-food giant reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. McDonald’s had a net margin of 25.77% and a negative return on equity of 129.90%. The business had revenue of $5.72 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same period last year, the company posted $2.37 EPS. The business’s revenue was down 2.9% on a year-over-year basis. On average, analysts expect that McDonald’s Co. will post 9.83 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Thursday, September 1st will be paid a $1.38 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.12%. McDonald’s’s payout ratio is currently 67.98%.

McDonald’s Profile

(Get Rating)

McDonald’s Corporation operates and franchises McDonald’s restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.

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