Bank of New York Mellon Corp decreased its holdings in McDonald's Co. (NYSE:MCD) by 9.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,229,528 shares of the fast-food giant’s stock after selling 1,081,677 shares during the period. Bank of New York Mellon Corp’s holdings in McDonald's were worth $1,760,708,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in MCD. Horan Capital Advisors LLC. bought a new stake in shares of McDonald's in the 3rd quarter worth about $104,000. Phocas Financial Corp. bought a new stake in shares of McDonald's in the 2nd quarter worth about $107,000. Tarbox Family Office Inc. grew its holdings in shares of McDonald's by 105.8% in the 4th quarter. Tarbox Family Office Inc. now owns 638 shares of the fast-food giant’s stock worth $110,000 after purchasing an additional 328 shares during the last quarter. Horan Capital Management bought a new stake in shares of McDonald's in the 4th quarter worth about $110,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. grew its holdings in shares of McDonald's by 219.2% in the 3rd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 830 shares of the fast-food giant’s stock worth $130,000 after purchasing an additional 570 shares during the last quarter. Institutional investors own 68.54% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. Bank of America set a $200.00 target price on shares of McDonald's and gave the stock a “buy” rating in a report on Monday, January 29th. Nomura reissued a “buy” rating and set a $198.00 price objective (up previously from $190.00) on shares of McDonald's in a report on Tuesday, January 23rd. Credit Suisse Group reissued an “outperform” rating and set a $191.00 price objective (up previously from $185.00) on shares of McDonald's in a report on Tuesday, January 23rd. Zacks Investment Research raised shares of McDonald's from a “hold” rating to a “buy” rating and set a $196.00 price objective on the stock in a report on Thursday, January 18th. Finally, Goldman Sachs set a $200.00 price objective on shares of McDonald's and gave the stock a “buy” rating in a report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $183.00.
Shares of NYSE:MCD opened at $161.25 on Monday. The company has a market capitalization of $128,112.80, a P/E ratio of 24.21, a PEG ratio of 2.43 and a beta of 0.64. The company has a debt-to-equity ratio of -9.04, a quick ratio of 1.82 and a current ratio of 1.84. McDonald's Co. has a fifty-two week low of $129.52 and a fifty-two week high of $178.70.
McDonald's (NYSE:MCD) last announced its quarterly earnings results on Tuesday, January 30th. The fast-food giant reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.12. The business had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.22 billion. McDonald's had a net margin of 22.75% and a negative return on equity of 201.76%. McDonald's’s revenue for the quarter was down 11.4% on a year-over-year basis. During the same period last year, the company posted $1.44 EPS. analysts forecast that McDonald's Co. will post 7.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were given a $1.01 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.51%. McDonald's’s dividend payout ratio is 60.66%.
In related news, VP Catherine A. Hoovel sold 1,398 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $170.54, for a total value of $238,414.92. Following the sale, the vice president now directly owns 1,398 shares in the company, valued at approximately $238,414.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas M. Goare sold 34,575 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $173.53, for a total transaction of $5,999,799.75. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
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McDonald's Company 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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