Prudential Financial Inc. cut its stake in McDonald’s (NYSE:MCD) by 19.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,053,429 shares of the fast-food giant’s stock after selling 505,043 shares during the quarter. Prudential Financial Inc. owned about 0.26% of McDonald’s worth $321,115,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tarbox Family Office Inc. boosted its stake in McDonald’s by 105.8% during the fourth quarter. Tarbox Family Office Inc. now owns 638 shares of the fast-food giant’s stock valued at $110,000 after buying an additional 328 shares during the period. Chevy Chase Trust Holdings Inc. boosted its stake in McDonald’s by 0.5% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 808,477 shares of the fast-food giant’s stock valued at $126,673,000 after buying an additional 3,876 shares during the period. Front Row Advisors LLC bought a new stake in McDonald’s during the fourth quarter valued at $651,000. Quantitative Systematic Strategies LLC boosted its stake in McDonald’s by 285.6% during the fourth quarter. Quantitative Systematic Strategies LLC now owns 13,430 shares of the fast-food giant’s stock valued at $2,312,000 after buying an additional 9,947 shares during the period. Finally, Highstreet Asset Management Inc. boosted its stake in McDonald’s by 67.1% during the fourth quarter. Highstreet Asset Management Inc. now owns 94,891 shares of the fast-food giant’s stock valued at $16,333,000 after buying an additional 38,120 shares during the period. Institutional investors own 67.53% of the company’s stock.
In related news, EVP Kevin M. Ozan sold 18,636 shares of the business’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $165.69, for a total transaction of $3,087,798.84. Following the transaction, the executive vice president now owns 29,800 shares in the company, valued at approximately $4,937,562. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas M. Goare sold 13,255 shares of the business’s stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $165.40, for a total value of $2,192,377.00. The disclosure for this sale can be found here. 0.22% of the stock is owned by insiders.
Several equities research analysts recently issued reports on the company. ValuEngine lowered McDonald’s from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. Goldman Sachs set a $185.00 price objective on McDonald’s and gave the company a “buy” rating in a research note on Tuesday, May 8th. Barclays reissued a “buy” rating and set a $204.00 price objective on shares of McDonald’s in a research note on Wednesday, May 2nd. Bank of America set a $190.00 price objective on McDonald’s and gave the company a “buy” rating in a research note on Tuesday, May 1st. Finally, Royal Bank of Canada raised McDonald’s to an “outperform” rating and set a $175.00 price objective for the company in a research note on Tuesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $184.03.
McDonald’s opened at $161.48 on Tuesday, according to Marketbeat. The stock has a market capitalization of $126.40 billion, a PE ratio of 24.25, a P/E/G ratio of 2.37 and a beta of 0.63. The company has a current ratio of 1.74, a quick ratio of 1.72 and a debt-to-equity ratio of -6.54. McDonald’s has a 12 month low of $146.84 and a 12 month high of $178.70.
McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, April 30th. The fast-food giant reported $1.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.12. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $4.97 billion. McDonald’s had a negative return on equity of 167.80% and a net margin of 24.02%. The company’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.47 earnings per share. analysts predict that McDonald’s will post 7.66 earnings per share for the current year.
McDonald’s Company Profile
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2017, the company operated 37,241 restaurants, including 34,108 franchised restaurants comprising 21,366 franchised to conventional franchisees, 6,945 licensed to developmental licensees, and 5,797 licensed to foreign affiliates; and 3,133 company-operated restaurants.
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