United Bank Inc. lifted its stake in McDonald's Co. (NYSE:MCD) by 98.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,282 shares of the fast-food giant’s stock after purchasing an additional 15,542 shares during the period. McDonald's accounts for approximately 1.9% of United Bank Inc.’s holdings, making the stock its 16th largest holding. United Bank Inc.’s holdings in McDonald's were worth $4,901,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Jennison Associates LLC lifted its holdings in shares of McDonald's by 681.3% in the second quarter. Jennison Associates LLC now owns 6,109,830 shares of the fast-food giant’s stock valued at $935,782,000 after purchasing an additional 5,327,778 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of McDonald's by 3,951.0% in the second quarter. Janus Henderson Group PLC now owns 4,422,423 shares of the fast-food giant’s stock valued at $677,339,000 after purchasing an additional 4,313,253 shares in the last quarter. FMR LLC lifted its holdings in shares of McDonald's by 72.9% in the second quarter. FMR LLC now owns 8,371,823 shares of the fast-food giant’s stock valued at $1,282,229,000 after purchasing an additional 3,530,622 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of McDonald's by 69.9% in the second quarter. Alliancebernstein L.P. now owns 7,558,294 shares of the fast-food giant’s stock valued at $1,157,628,000 after purchasing an additional 3,110,669 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of McDonald's by 3.0% in the second quarter. BlackRock Inc. now owns 54,606,388 shares of the fast-food giant’s stock valued at $8,363,515,000 after purchasing an additional 1,586,761 shares in the last quarter. Hedge funds and other institutional investors own 67.28% of the company’s stock.
A number of brokerages have recently commented on MCD. ValuEngine lowered McDonald's from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Goldman Sachs Group set a $180.00 target price on McDonald's and gave the company a “buy” rating in a research report on Tuesday, December 12th. Robert W. Baird reaffirmed an “outperform” rating and issued a $170.00 target price on shares of McDonald's in a research report on Tuesday, October 3rd. Royal Bank of Canada lifted their target price on McDonald's from $175.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, October 13th. Finally, Longbow Research raised McDonald's from a “neutral” rating to a “buy” rating and lifted their target price for the company from $154.05 to $183.00 in a research report on Thursday, September 28th. Nine investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $178.88.
Shares of McDonald's Co. (NYSE:MCD) opened at $173.57 on Friday. 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 capitalization of $140,590.00, a P/E ratio of 25.05, a P/E/G ratio of 2.75 and a beta of 0.67. McDonald's Co. has a 12 month low of $119.82 and a 12 month high of $175.78.
McDonald's (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 24th. The fast-food giant reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.01. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.75 billion. McDonald's had a negative return on equity of 216.45% and a net margin of 24.19%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.62 earnings per share. research analysts predict that McDonald's Co. will post 6.53 EPS for the current year.
In other McDonald's news, insider Stephen Easterbrook sold 171,577 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now directly owns 49,778 shares in the company, valued at $8,378,632.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James R. Sappington sold 8,046 shares of the company’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $165.00, for a total value of $1,327,590.00. Following the sale, the vice president now owns 15,739 shares of the company’s stock, valued at $2,596,935. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.
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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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