People s United Financial Inc. trimmed its stake in Mcdonald’s Corp (NYSE:MCD) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 850,691 shares of the fast-food giant’s stock after selling 15,730 shares during the period. Mcdonald’s makes up approximately 4.4% of People s United Financial Inc.’s portfolio, making the stock its biggest holding. People s United Financial Inc.’s holdings in Mcdonald’s were worth $142,312,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of MCD. FMR LLC grew its position in Mcdonald’s by 5.5% during the second quarter. FMR LLC now owns 19,483,955 shares of the fast-food giant’s stock valued at $3,052,941,000 after acquiring an additional 1,014,792 shares during the last quarter. Fundsmith Equity Fund L.P. bought a new position in Mcdonald’s during the second quarter valued at approximately $1,191,239,000. Janus Henderson Group PLC grew its position in Mcdonald’s by 5.4% during the second quarter. Janus Henderson Group PLC now owns 8,107,972 shares of the fast-food giant’s stock valued at $1,270,446,000 after acquiring an additional 412,750 shares during the last quarter. Bank of New York Mellon Corp grew its position in Mcdonald’s by 6,582,167.8% during the third quarter. Bank of New York Mellon Corp now owns 7,964,544 shares of the fast-food giant’s stock valued at $1,332,390,000 after acquiring an additional 7,964,423 shares during the last quarter. Finally, Magellan Asset Management Ltd grew its position in Mcdonald’s by 0.4% during the second quarter. Magellan Asset Management Ltd now owns 5,955,794 shares of the fast-food giant’s stock valued at $933,213,000 after acquiring an additional 20,873 shares during the last quarter. Institutional investors own 67.22% of the company’s stock.
Shares of MCD stock opened at $182.96 on Friday. Mcdonald’s Corp has a 52 week low of $146.84 and a 52 week high of $190.88. The firm has a market capitalization of $142.97 billion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 2.72 and a beta of 0.55.
Mcdonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.11. Mcdonald’s had a negative return on equity of 116.43% and a net margin of 24.56%. The company had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the firm posted $1.76 earnings per share. The firm’s revenue was down 6.7% on a year-over-year basis. As a group, analysts expect that Mcdonald’s Corp will post 7.76 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be paid a $1.16 dividend. 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 yield of 2.54%. Mcdonald’s’s dividend payout ratio (DPR) is presently 69.67%.
A number of research analysts have commented on MCD shares. Zacks Investment Research upgraded shares of Mcdonald’s from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a research report on Monday, November 26th. ValuEngine upgraded shares of Mcdonald’s from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Jefferies Financial Group increased their price target on shares of Mcdonald’s from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 24th. Wells Fargo & Co reiterated a “buy” rating and set a $185.00 price target on shares of Mcdonald’s in a research report on Monday, September 24th. Finally, Morgan Stanley reiterated a “neutral” rating and set a $173.00 price target on shares of Mcdonald’s in a research report on Wednesday, October 24th. Seven equities research analysts have rated the stock with a hold rating and twenty-five 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 $191.69.
In related news, EVP Francesca A. Debiase sold 15,136 shares of the firm’s stock in a transaction on Wednesday, October 24th. The stock was sold at an average price of $176.17, for a total value of $2,666,509.12. Following the completion of the sale, the executive vice president now owns 17,306 shares of the company’s stock, valued at $3,048,798.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ian Frederick Borden sold 4,782 shares of the firm’s stock in a transaction on Thursday, October 25th. The shares were sold at an average price of $177.68, for a total value of $849,665.76. The disclosure for this sale can be found here. Insiders sold 221,041 shares of company stock valued at $38,839,407 in the last ninety days. 0.22% of the stock is currently owned by insiders.
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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