Banque Cantonale Vaudoise boosts holdings with 8,768 shares of McDonald's Corporation (NYSE:MCD)

2 min read | November 19, 2024 07:08 AM PST | By Team Kalkine Media

Google News:

Banque Cantonale Vaudoise boosts holdings with 8,768 shares of McDonald's Corporation (NYSE:MCD) — Image source: Shutterstock

Recent News

Why Delta Air Lines (NYSE:DAL) Is Drawing Fresh Attention In Value Sto...

PG&E (NYSE:PCG) Draws Fresh Focus In Utility Stocks Coverage

Why Consolidated Edison (NYSE:ED) Is Back In Focus?

Is SoFi Technologies (NASDAQ:SOFI) Setting Up for Its Next Move?

Make Kalkine Media
My Trusted Source

Highlights:

Banque Cantonale Vaudoise raised its holdings in McDonald’s by 25.7% during Q3.

Institutional investors continue to adjust positions in McDonald's amid mixed analyst outlook.

McDonald's announces an increase in quarterly dividend alongside strong earnings results.

Banque Cantonale Vaudoise has increased its holdings in McDonald's Corporation (NYSE:MCD) by 25.7% during the third quarter, as revealed in its recent SEC filing. The institutional firm now owns over 42,000 shares of the fast-food giant, following the purchase of an additional 8,700 shares. McDonald's remains a significant part of the firm’s portfolio, with the position valued at over $13 million as of the filing.

The move is part of a broader trend among institutional entities, with multiple firms adjusting their positions in McDonald's stock. New stakes were acquired by several hedge funds and financial groups, including Hara Capital LLC, Peterson Financial Group Inc., and Kings Path Partners LLC, indicating sustained interest in the company. Currently, 70.29% of McDonald's shares are held by institutional investors.

Despite fluctuations in market sentiment, McDonald's has maintained strong support among analysts, though with varying perspectives. Some research firms have reiterated positive ratings, with Wedbush setting an "outperform" rating for the stock and a price objective of $295. Conversely, Guggenheim lowered its rating and reduced its price estimate, reflecting caution among certain analysts. The consensus rating on McDonald's remains "Moderate Buy," with an average price estimate of $319.46.

In addition to its stock activity, McDonald's recently reported robust earnings for the third quarter, exceeding analysts' expectations. The company posted earnings of $3.23 per share, surpassing the consensus estimate of $3.18. Revenue for the quarter also saw an uptick, rising by 2.7% compared to the same period last year. Alongside these strong financial results, McDonald’s announced an increase in its quarterly dividend, raising it to $1.77 per share.

With institutional activity continuing to shape McDonald's shareholder base and its positive earnings trajectory, the company remains a focal point in the fast-food and global retail sectors.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.