Massachusetts Financial Services Co. MA reduced its position in shares of McDonald’s (NYSE:MCD) by 6.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,337 shares of the fast-food giant’s stock after selling 5,723 shares during the period. Massachusetts Financial Services Co. MA’s holdings in McDonald’s were worth $13,345,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Horan Capital Advisors LLC. acquired a new position in McDonald’s during the third quarter valued at approximately $104,000. Pinnacle Wealth Planning Services Inc. acquired a new position in McDonald’s during the fourth quarter valued at approximately $109,000. Tarbox Family Office Inc. raised its position in McDonald’s by 105.8% during the fourth quarter. Tarbox Family Office Inc. now owns 638 shares of the fast-food giant’s stock valued at $110,000 after purchasing an additional 328 shares in the last quarter. Horan Capital Management acquired a new position in McDonald’s during the fourth quarter valued at approximately $110,000. Finally, Certified Advisory Corp acquired a new position in McDonald’s during the fourth quarter valued at approximately $121,000. Institutional investors and hedge funds own 67.90% of the company’s stock.
Shares of MCD opened at $160.98 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.72 and a debt-to-equity ratio of -6.54. The firm has a market cap of $126.40 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 2.37 and a beta of 0.63. McDonald’s has a 12 month low of $146.84 and a 12 month high of $178.70.
McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, April 30th. The fast-food giant reported $1.79 EPS for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.12. The business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $4.97 billion. McDonald’s had a net margin of 24.02% and a negative return on equity of 167.80%. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.47 earnings per share. sell-side analysts predict that McDonald’s will post 7.66 EPS for the current year.
Several research analysts have commented on MCD shares. Bank of America set a $190.00 price objective on shares of McDonald’s and gave the company a “buy” rating in a research report on Tuesday, May 1st. Vetr raised shares of McDonald’s from a “hold” rating to a “buy” rating and set a $177.90 target price on the stock in a research note on Tuesday, April 10th. Credit Suisse Group reaffirmed an “outperform” rating and set a $175.00 target price (down previously from $191.00) on shares of McDonald’s in a research note on Tuesday, March 6th. Goldman Sachs set a $185.00 target price on shares of McDonald’s and gave the stock a “buy” rating in a research note on Tuesday, May 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 target price on shares of McDonald’s in a research note on Friday, March 2nd. Nine research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $184.03.
In other McDonald’s news, insider Douglas M. Goare sold 13,255 shares of the company’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $165.40, for a total transaction of $2,192,377.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Kevin M. Ozan sold 18,636 shares of the company’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $165.69, for a total transaction of $3,087,798.84. Following the sale, the executive vice president now directly owns 29,800 shares in the company, valued at approximately $4,937,562. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2017, the company operated 37,241 restaurants, including 34,108 franchised restaurants comprising 21,366 franchised to conventional franchisees, 6,945 licensed to developmental licensees, and 5,797 licensed to foreign affiliates; and 3,133 company-operated restaurants.
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