Tower Bridge Advisors Lowers stake in McDonald's Corporation (MCD)

McDonald's Corporation (MCD) : Tower Bridge Advisors reduced its stake in McDonald's Corporation by 2.64% during the most recent quarter end. The investment management company now holds a total of 123,220 shares of McDonald's Corporation which is valued at $14,727,254 after selling 3,335 shares in McDonald's Corporation , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.McDonald's Corporation makes up approximately 1.78% of Tower Bridge Advisors’s portfolio.

Other Hedge Funds, Including , Sandy Spring Bank reduced its stake in MCD by selling 12,291 shares or 13.7% in the most recent quarter. The Hedge Fund company now holds 77,449 shares of MCD which is valued at $9,161,442. McDonald's Corporation makes up approx 1.01% of Sandy Spring Bank’s portfolio.Trust Co Of Virginia Va boosted its stake in MCD in the latest quarter, The investment management firm added 97 additional shares and now holds a total of 19,417 shares of McDonald's Corporation which is valued at $2,403,825. McDonald's Corporation makes up approx 0.41% of Trust Co Of Virginia Va’s portfolio.

McDonald's Corporation opened for trading at $114.6 and hit $115.65 on the upside on Monday, eventually ending the session at $115.41, with a gain of 0.85% or 0.97 points. The heightened volatility saw the trading volume jump to 49,82,952 shares. Company has a market cap of $98,487 M.

On the company’s financial health, McDonald's Corporation reported $1.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $1.39. The company had revenue of $6265.00 million for the quarter, compared to analysts expectations of $6265.41 million. The company’s revenue was down -3.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.26 EPS.

Investors should note that on Jul 28, 2016, McDonald's Corporation announced a cash dividend of $0.8900. The company’s management has announced Aug 30, 2016 as the ex-dividend date and fixed the record date on Sep 1, 2016. The payable date has been fixed on Sep 16, 2016.

Many Wall Street Analysts have commented on McDonald's Corporation. McDonald's Corporation was Downgraded by Argus to ” Hold” on Aug 15, 2016. Shares were Reiterated by Deutsche Bank on Jul 27, 2016 to “Buy” and Lowered the Price Target to $ 135 from a previous price target of $140 .McDonald's Corporation was Downgraded by Nomura to ” Neutral” on Jun 22, 2016.

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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