Alliancebernstein L.P. Has $1.16 Billion Holdings in McDonald’s Corporation (MCD)

Alliancebernstein L.P. raised its position in shares of McDonald’s Corporation (NYSE:MCD) by 69.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,558,294 shares of the fast-food giant’s stock after buying an additional 3,110,669 shares during the quarter. McDonald’s comprises about 0.9% of Alliancebernstein L.P.’s investment portfolio, making the stock its 12th largest holding. Alliancebernstein L.P. owned approximately 0.93% of McDonald’s worth $1,157,628,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board lifted its position in shares of McDonald’s by 1.0% during the second quarter. Canada Pension Plan Investment Board now owns 449,237 shares of the fast-food giant’s stock valued at $68,805,000 after buying an additional 4,300 shares during the last quarter. Legacy Capital Partners Inc. lifted its position in shares of McDonald’s by 7.0% during the first quarter. Legacy Capital Partners Inc. now owns 26,154 shares of the fast-food giant’s stock valued at $3,390,000 after buying an additional 1,706 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of McDonald’s by 10.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 467,212 shares of the fast-food giant’s stock valued at $71,558,000 after purchasing an additional 44,899 shares during the last quarter. Buckingham Asset Management LLC raised its position in shares of McDonald’s by 157.5% in the 2nd quarter. Buckingham Asset Management LLC now owns 18,973 shares of the fast-food giant’s stock valued at $2,906,000 after purchasing an additional 11,604 shares during the last quarter. Finally, Holderness Investments Co. raised its position in shares of McDonald’s by 323.7% in the 1st quarter. Holderness Investments Co. now owns 10,589 shares of the fast-food giant’s stock valued at $1,372,000 after purchasing an additional 8,090 shares during the last quarter. 67.40% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently commented on MCD shares. Wells Fargo & Company set a $185.00 price objective on shares of McDonald’s and gave the company a “buy” rating in a research report on Wednesday, October 25th. Deutsche Bank set a $185.00 price objective on shares of McDonald’s and gave the company a “buy” rating in a research report on Friday, October 20th. Canaccord Genuity reaffirmed a “hold” rating and issued a $170.00 price objective on shares of McDonald’s in a research report on Friday, October 6th. Longbow Research raised shares of McDonald’s from a “neutral” rating to a “buy” rating and increased their price objective for the company from $154.05 to $183.00 in a research report on Thursday, September 28th. Finally, Argus reaffirmed a “buy” rating on shares of McDonald’s in a research report on Tuesday, October 17th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $173.95.

In other news, insider Stephen Easterbrook sold 171,577 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $168.32, for a total transaction of $28,879,840.64. Following the sale, the insider now owns 49,778 shares of the company’s stock, valued at approximately $8,378,632.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James R. Sappington sold 8,046 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $165.00, for a total transaction of $1,327,590.00. Following the sale, the vice president now directly owns 15,739 shares in the company, valued at approximately $2,596,935. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

Shares of McDonald’s Corporation (MCD) traded down $2.22 during trading hours on Tuesday, reaching $170.65. 3,943,100 shares of the company traded hands, compared to its average volume of 3,476,107. McDonald’s Corporation has a one year low of $118.18 and a one year high of $173.48. The company has a current ratio of 1.28, a quick ratio of 1.27 and a debt-to-equity ratio of -8.17. The firm has a market cap of $137,809.47, a P/E ratio of 27.01, a PEG ratio of 2.83 and a beta of 0.67.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 24th. The fast-food giant reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.01. The business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.75 billion. McDonald’s had a net margin of 24.19% and a negative return on equity of 216.45%. The business’s revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the company earned $1.62 EPS. research analysts anticipate that McDonald’s Corporation will post 6.52 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $1.01 per share. This is a boost from McDonald’s’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.37%. McDonald’s’s dividend payout ratio (DPR) is presently 58.30%.

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McDonald’s Profile

McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.

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Institutional Ownership by Quarter for McDonald`s (NYSE:MCD)

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