Goelzer Investment Management Inc. cut its holdings in shares of McDonald’s (NYSE:MCD) by 7.9% in the 1st quarter, Holdings Channel reports. The firm owned 5,342 shares of the fast-food giant’s stock after selling 460 shares during the period. Goelzer Investment Management Inc.’s holdings in McDonald’s were worth $835,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pinnacle Wealth Planning Services Inc. bought a new position in shares of McDonald’s in the 4th quarter valued at $109,000. Tarbox Family Office Inc. lifted its stake 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 valued at $110,000 after acquiring an additional 328 shares during the last quarter. Horan Capital Management bought a new position in shares of McDonald’s in the 4th quarter valued at $110,000. Horan Capital Advisors LLC. bought a new position in shares of McDonald’s in the 3rd quarter valued at $104,000. Finally, Certified Advisory Corp bought a new position in shares of McDonald’s in the 4th quarter valued at $121,000. Hedge funds and other institutional investors own 67.53% of the company’s stock.
Shares of McDonald’s opened at $163.21 on Friday, MarketBeat reports. The company has a debt-to-equity ratio of -6.54, a current ratio of 1.74 and a quick ratio of 1.72. McDonald’s has a 1-year low of $146.84 and a 1-year high of $178.70. The stock has a market cap of $126.90 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 2.38 and a beta of 0.63.
McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, April 30th. The fast-food giant reported $1.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.12. McDonald’s had a negative return on equity of 167.80% and a net margin of 24.02%. The firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same period last year, the business posted $1.47 EPS. The business’s revenue was down 9.5% compared to the same quarter last year. sell-side analysts forecast that McDonald’s will post 7.66 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 18th. Shareholders of record on Monday, June 4th will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Friday, June 1st. This represents a $4.04 dividend on an annualized basis and a yield of 2.48%. McDonald’s’s payout ratio is currently 60.66%.
A number of research analysts have recently commented on the company. Stifel Nicolaus increased their price target on McDonald’s from $165.00 to $168.00 and gave the company a “hold” rating in a research note on Tuesday, May 1st. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $182.00 price target on shares of McDonald’s in a research note on Monday, March 12th. Piper Jaffray Companies set a $185.00 price target on McDonald’s and gave the company a “buy” rating in a research note on Tuesday, April 10th. Barclays dropped their price target on McDonald’s from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. Finally, Goldman Sachs Group reiterated a “buy” rating and issued a $185.00 price target on shares of McDonald’s in a research note on Wednesday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. McDonald’s presently has an average rating of “Buy” and a consensus price target of $184.03.
In other McDonald’s news, EVP Kevin M. Ozan sold 18,636 shares of the stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $165.69, for a total transaction of $3,087,798.84. Following the completion of the sale, the executive vice president now directly owns 29,800 shares in the company, valued at approximately $4,937,562. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas M. Goare sold 13,255 shares of the stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $165.40, for a total value of $2,192,377.00. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.
McDonald’s Company Profile
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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