Buckingham Asset Management LLC lessened its holdings in Mcdonald’s Corp (NYSE:MCD) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,451 shares of the fast-food giant’s stock after selling 649 shares during the quarter. Buckingham Asset Management LLC’s holdings in Mcdonald’s were worth $3,421,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of MCD. CSat Investment Advisory L.P. purchased a new position in Mcdonald’s in the 2nd quarter worth $104,000. CX Institutional purchased a new position in Mcdonald’s in the 2nd quarter worth $109,000. Quad Cities Investment Group LLC purchased a new position in Mcdonald’s in the 2nd quarter worth $110,000. NuWave Investment Management LLC raised its position in Mcdonald’s by 2,485.2% in the 3rd quarter. NuWave Investment Management LLC now owns 698 shares of the fast-food giant’s stock worth $117,000 after purchasing an additional 671 shares during the period. Finally, Horan Capital Management purchased a new position in Mcdonald’s in the 2nd quarter worth $121,000. Institutional investors own 66.92% of the company’s stock.
A number of brokerages recently commented on MCD. Zacks Investment Research upgraded shares of Mcdonald’s from a “hold” rating to a “buy” rating and set a $199.00 target price on the stock in a research report on Friday, October 26th. Robert W. Baird reiterated a “buy” rating and issued a $200.00 target price on shares of Mcdonald’s in a research report on Wednesday, October 24th. Telsey Advisory Group decreased their target price on shares of Mcdonald’s from $190.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, July 27th. JPMorgan Chase & Co. set a $180.00 target price on shares of Mcdonald’s and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Finally, Cowen boosted their price objective on shares of Mcdonald’s from $190.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday. Seven analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $189.44.
Shares of MCD opened at $185.94 on Friday. The stock has a market cap of $140.85 billion, a PE ratio of 27.92, a P/E/G ratio of 2.68 and a beta of 0.53. Mcdonald’s Corp has a 1-year low of $146.84 and a 1-year high of $186.58.
Mcdonald’s (NYSE:MCD) last announced its earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.11. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.28 billion. Mcdonald’s had a net margin of 24.56% and a negative return on equity of 116.43%. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.76 EPS. On average, sell-side analysts forecast that Mcdonald’s Corp will post 7.75 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a dividend of $1.16 per share. This is a positive change from Mcdonald’s’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Friday, November 30th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.50%. Mcdonald’s’s payout ratio is presently 60.66%.
In other news, CEO Stephen Easterbrook sold 201,123 shares of Mcdonald’s stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $175.63, for a total transaction of $35,323,232.49. Following the sale, the chief executive officer now owns 48,925 shares of the company’s stock, valued at approximately $8,592,697.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ian Frederick Borden sold 4,782 shares of Mcdonald’s stock in a transaction dated Thursday, October 25th. The shares were sold at an average price of $177.68, for a total transaction of $849,665.76. The disclosure for this sale can be found here. Insiders have sold a total of 221,041 shares of company stock worth $38,839,407 in the last ninety days. Insiders own 0.22% of the company’s stock.
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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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