Smith Asset Management Group LP reduced its holdings in McDonald's Co. (NYSE:MCD) by 16.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 501,466 shares of the fast-food giant’s stock after selling 99,295 shares during the quarter. McDonald's accounts for about 2.6% of Smith Asset Management Group LP’s investment portfolio, making the stock its 6th largest position. Smith Asset Management Group LP owned 0.06% of McDonald's worth $78,146,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. purchased a new stake in McDonald's in the 2nd quarter worth approximately $322,000. Phocas Financial Corp. purchased a new position in shares of McDonald's in the 2nd quarter valued at approximately $107,000. Proficio Capital Partners LLC lifted its stake in shares of McDonald's by 0.7% in the 2nd quarter. Proficio Capital Partners LLC now owns 745 shares of the fast-food giant’s stock valued at $117,000 after purchasing an additional 5 shares during the period. Howe & Rusling Inc. lifted its stake in shares of McDonald's by 75.0% in the 3rd quarter. Howe & Rusling Inc. now owns 840 shares of the fast-food giant’s stock valued at $132,000 after purchasing an additional 360 shares during the period. Finally, Acrospire Investment Management LLC purchased a new position in shares of McDonald's in the 2nd quarter valued at approximately $153,000. Hedge funds and other institutional investors own 67.30% of the company’s stock.
MCD has been the subject of a number of analyst reports. Jefferies Group raised McDonald's from a “hold” rating to a “buy” rating and raised their price objective for the company from $150.00 to $200.00 in a research report on Tuesday, December 5th. Goldman Sachs Group set a $173.00 price objective on McDonald's and gave the company a “buy” rating in a research report on Wednesday, November 8th. Deutsche Bank set a $185.00 target price on McDonald's and gave the stock a “buy” rating in a report on Thursday, October 26th. Credit Suisse Group raised their price target on McDonald's from $170.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Finally, Barclays set a $193.00 price target on McDonald's and gave the stock a “buy” rating in a research note on Friday, December 8th. Ten investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $179.28.
Shares of McDonald's Co. (NYSE MCD) traded down $0.71 during midday trading on Thursday, hitting $174.27. The company had a trading volume of 706,344 shares, compared to its average volume of 3,150,891. The company has a quick ratio of 1.27, a current ratio of 1.28 and a debt-to-equity ratio of -8.17. The stock has a market capitalization of $141,290.00, a price-to-earnings ratio of 25.15, a price-to-earnings-growth 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 posted its earnings results on Tuesday, October 24th. The fast-food giant reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.01. The company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.75 billion. McDonald's had a negative return on equity of 216.45% and a net margin of 24.19%. McDonald's’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.62 earnings per share. equities research analysts anticipate that McDonald's Co. will post 6.53 earnings per share for the current year.
In related news, 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 transaction, the vice president now directly owns 15,739 shares of the company’s stock, valued at approximately $2,596,935. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephen Easterbrook sold 171,577 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $168.32, for a total value 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. 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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