Welch Forbes buys $40,876,394 stake in McDonald's Corporation (MCD)

McDonald's Corporation (MCD) : Welch Forbes scooped up 2,311 additional shares in McDonald's Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 347,825 shares of McDonald's Corporation which is valued at $40,876,394.McDonald's Corporation makes up approximately 1.21% of Welch Forbes’s portfolio.

Other Hedge Funds, Including , Putnam Fl Investment Management Co boosted its stake in MCD in the latest quarter, The investment management firm added 1,417 additional shares and now holds a total of 21,121 shares of McDonald's Corporation which is valued at $2,482,140. McDonald's Corporation makes up approx 0.28% of Putnam Fl Investment Management Co’s portfolio.Hoertkorn Richard Charles reduced its stake in MCD by selling 75 shares or 0.17% in the most recent quarter. The Hedge Fund company now holds 44,800 shares of MCD which is valued at $5,746,048. McDonald's Corporation makes up approx 4.38% of Hoertkorn Richard Charles’s portfolio.First Manhattan Co reduced its stake in MCD by selling 2,430 shares or 0.86% in the most recent quarter. The Hedge Fund company now holds 280,352 shares of MCD which is valued at $34,707,578. McDonald's Corporation makes up approx 0.21% of First Manhattan Co’s portfolio.

McDonald's Corporation closed down -0.92 points or -0.77% at $118.29 with 35,89,327 shares getting traded on Monday. Post opening the session at $119.17, the shares hit an intraday low of $118.195 and an intraday high of $119.37 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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. 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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