Foster & Motley Buys into McDonald's as Institutional Investors Increase Stakes
Foster & Motley Inc., an investment firm, has purchased shares of McDonald's Corporation in its second quarter. According to a recent 13F filing with the Securities and Exchange Commission, Foster & Motley bought approximately 6,068 shares of McDonald's stock, valued at around $1.64 million.
This is not the only institutional investor that has made significant changes to their positions in McDonald's recently. Other firms, including Hamilton Point Investment Advisors LLC, Encompass More Asset Management, Richmond Investment Services LLC, and Papamarkou Wellner Asset Management inc., have also increased or decreased their stakes in the company.
McDonald's shares opened at $266.88 on Thursday, with a 50-day moving average price of $272.94 and a two-hundred day moving average price of $294.15. The fast-food giant reported quarterly earnings per share (EPS) of $3.38 in its latest results, topping the consensus estimate of $3.32.
The company's revenue was up 3.7% compared to the same quarter last year, with analysts predicting McDonald's will post EPS of $12.88 for the current fiscal year. The firm also recently announced a quarterly dividend, which will be paid on September 16th to investors of record on September 1st.