Jennison Associates LLC boosted its position in shares of McDonald's Co. (NYSE:MCD) by 14.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,972,117 shares of the fast-food giant’s stock after acquiring an additional 862,287 shares during the period. McDonald's accounts for 1.1% of Jennison Associates LLC’s investment portfolio, making the stock its 25th biggest holding. Jennison Associates LLC owned approximately 0.87% of McDonald's worth $1,092,391,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in MCD. Janus Henderson Group PLC lifted its position in McDonald's by 3,951.0% during the 2nd quarter. Janus Henderson Group PLC now owns 4,422,423 shares of the fast-food giant’s stock worth $677,339,000 after acquiring an additional 4,313,253 shares during the last quarter. FMR LLC lifted its position in McDonald's by 72.9% during the 2nd quarter. FMR LLC now owns 8,371,823 shares of the fast-food giant’s stock worth $1,282,229,000 after acquiring an additional 3,530,622 shares during the last quarter. Alliancebernstein L.P. lifted its position in McDonald's by 69.9% during the 2nd quarter. Alliancebernstein L.P. now owns 7,558,294 shares of the fast-food giant’s stock worth $1,157,628,000 after acquiring an additional 3,110,669 shares during the last quarter. BlackRock Inc. lifted its position in McDonald's by 3.0% during the 2nd quarter. BlackRock Inc. now owns 54,606,388 shares of the fast-food giant’s stock worth $8,363,515,000 after acquiring an additional 1,586,761 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in McDonald's by 15.0% during the 2nd quarter. Capital Research Global Investors now owns 12,058,661 shares of the fast-food giant’s stock worth $1,846,905,000 after acquiring an additional 1,572,074 shares during the last quarter. 67.28% of the stock is owned by hedge funds and other institutional investors.
McDonald's Co. (NYSE MCD) opened at $173.57 on Friday. McDonald's Co. has a 52-week low of $119.82 and a 52-week high of $175.78. The company has a debt-to-equity ratio of -8.17, a current ratio of 1.28 and a quick ratio of 1.27. The stock has a market cap of $140,590.00, a PE ratio of 25.05, a P/E/G ratio of 2.75 and a beta of 0.67.
McDonald's (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 24th. The fast-food giant reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.01. McDonald's had a net margin of 24.19% and a negative return on equity of 216.45%. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.75 billion. During the same quarter in the prior year, the business posted $1.62 earnings per share. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. analysts expect that McDonald's Co. will post 6.53 EPS for the current fiscal year.
A number of research analysts have weighed in on the stock. Credit Suisse Group reissued an “outperform” rating and set a $185.00 target price (up previously from $178.00) on shares of McDonald's in a research report on Tuesday, December 19th. Goldman Sachs Group set a $190.00 price objective on shares of McDonald's and gave the company a “buy” rating in a research report on Friday, January 5th. Cowen reaffirmed a “buy” rating and set a $200.00 price objective on shares of McDonald's in a research report on Friday, January 5th. Piper Jaffray Companies upped their price objective on shares of McDonald's from $175.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, December 14th. Finally, JPMorgan Chase & Co. set a $186.00 price objective on shares of McDonald's and gave the company a “buy” rating in a research report on Friday. Nine analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $178.88.
In other McDonald's news, VP James R. Sappington sold 8,046 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were 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 of the company’s stock, valued at $2,596,935. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Easterbrook sold 171,577 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $168.32, for a total transaction of $28,879,840.64. Following the sale, the insider now directly owns 49,778 shares in the company, valued at $8,378,632.96. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
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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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