Concannon Wealth Management Lowers stake in MCDONALDS CORP COM (MCD)

MCDONALDS CORP COM (MCD) : Concannon Wealth Management reduced its stake in MCDONALDS CORP COM by 10.39% during the most recent quarter end. The investment management company now holds a total of 55,098 shares of MCDONALDS CORP COM which is valued at $6,914,799 after selling 6,386 shares in MCDONALDS CORP COM , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.MCDONALDS CORP COM makes up approximately 7.02% of Concannon Wealth Management’s portfolio.

MCDONALDS CORP COM opened for trading at $127.94 and hit $128.5599 on the upside on Wednesday, eventually ending the session at $128.3, with a gain of 0.46% or 0.59 points. The heightened volatility saw the trading volume jump to 44,36,223 shares. Company has a market cap of $115,676 M.

Other Hedge Funds, Including , Alta Capital Management reduced its stake in MCD by selling 102 shares or 1.02% in the most recent quarter. The Hedge Fund company now holds 9,857 shares of MCD which is valued at $1,237,054. MCDONALDS CORP COM makes up approx 0.08% of Alta Capital Management’s portfolio.Koshinski Asset Management reduced its stake in MCD by selling 282 shares or 4.29% in the most recent quarter. The Hedge Fund company now holds 6,293 shares of MCD which is valued at $804,120. MCDONALDS CORP COM makes up approx 0.52% of Koshinski Asset Management’s portfolio.Independent Portfolio Consultants reduced its stake in MCD by selling 6,447 shares or 35.87% in the most recent quarter. The Hedge Fund company now holds 11,527 shares of MCD which is valued at $1,472,920. MCDONALDS CORP COM makes up approx 0.41% of Independent Portfolio Consultants’s portfolio.

On the company’s financial health, MCDONALDS CORP COM reported $1.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 22, 2016. Analyst had a consensus of $1.17. The company had revenue of $5904.00 million for the quarter, compared to analysts expectations of $5821.41 million. The company’s revenue was down -.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.01 EPS.

Many Wall Street Analysts have commented on MCDONALDS CORP COM. Company shares were Reiterated by Deutsche Bank on Apr 25, 2016 to “Buy”, Firm has raised the Price Target to $ 140 from a previous price target of $135 .Company shares were Reiterated by RBC Capital Mkts on Apr 25, 2016 to “Outperform”, Firm has raised the Price Target to $ 140 from a previous price target of $135 .Company shares were Reiterated by Nomura on Apr 25, 2016 to “Buy”, Firm has raised the Price Target to $ 142 from a previous price target of $138 .

McDonald’s Corporation operates and franchises McDonald’s restaurants. McDonald’s global system comprises both Company-owned and franchised restaurants. The Company manages its business as distinct geographic segments: the United States (U.S.); Europe and Asia/Pacific Middle East and Africa (APMEA). The Company’s operations in Canada and Latin America as well as its Corporate activities are reported under Other Countries & Corporate. The Company’s restaurants offer a substantially uniform menu including hamburgers and cheeseburgers Big Mac Quarter Pounder with Cheese Filet-O-Fish several chicken sandwiches Chicken McNuggets wraps French fries salads oatmeal shakes McFlurry desserts sundaes soft serve cones pies soft drinks coffee McCafe beverages and other beverages. McDonald’s franchised restaurants are owned and operated under one of the following structures: conventional franchise developmental license or affiliate.

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