Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in shares of Mcdonald’s Corp (NYSE:MCD) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 1,270 shares of the fast-food giant’s stock, valued at approximately $212,000.
Several other large investors have also recently bought and sold shares of MCD. CSat Investment Advisory L.P. bought a new position in Mcdonald’s in the second quarter valued at approximately $104,000. CX Institutional bought a new position in Mcdonald’s in the second quarter valued at approximately $109,000. Quad Cities Investment Group LLC bought a new position in Mcdonald’s in the second quarter valued at approximately $110,000. NuWave Investment Management LLC grew its stake in Mcdonald’s by 2,485.2% in the third quarter. NuWave Investment Management LLC now owns 698 shares of the fast-food giant’s stock valued at $117,000 after purchasing an additional 671 shares in the last quarter. Finally, Horan Capital Management bought a new position in Mcdonald’s in the second quarter valued at approximately $121,000. Institutional investors and hedge funds own 66.92% of the company’s stock.
Several research analysts have recently commented on the company. SunTrust Banks lifted their target price on Mcdonald’s to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 24th. KeyCorp set a $195.00 target price on Mcdonald’s and gave the stock a “buy” rating in a research note on Wednesday, October 24th. Telsey Advisory Group lifted their target price on Mcdonald’s from $175.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 24th. Morgan Stanley reiterated a “neutral” rating and set a $173.00 target price on shares of Mcdonald’s in a research note on Wednesday, October 24th. Finally, Royal Bank of Canada set a $190.00 target price on Mcdonald’s and gave the stock a “buy” rating in a research note on Wednesday, October 24th. Seven investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $188.93.
NYSE:MCD opened at $174.88 on Friday. The company has a market cap of $138.47 billion, a P/E ratio of 23.52, a PEG ratio of 2.62 and a beta of 0.66. Mcdonald’s Corp has a 1-year low of $146.84 and a 1-year high of $178.96.
Mcdonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.99 by $0.11. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Mcdonald’s had a negative return on equity of 130.19% and a net margin of 24.56%. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period last year, the firm posted $1.76 EPS. Analysts predict that Mcdonald’s Corp will post 7.75 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be issued a dividend of $1.16 per share. This is a boost from Mcdonald’s’s previous quarterly dividend of $1.01. This represents a $4.64 annualized dividend and a yield of 2.65%. The ex-dividend date is Friday, November 30th. Mcdonald’s’s dividend payout ratio (DPR) is presently 60.66%.
In related news, CEO Stephen Easterbrook sold 201,123 shares of Mcdonald’s stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $175.63, for a total transaction of $35,323,232.49. Following the completion of the sale, the chief executive officer now directly owns 48,925 shares of the company’s stock, valued at approximately $8,592,697.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Francesca A. Debiase sold 15,136 shares of Mcdonald’s stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $176.17, for a total value of $2,666,509.12. Following the sale, the executive vice president now directly owns 17,306 shares of the company’s stock, valued at $3,048,798.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,041 shares of company stock valued at $38,839,407. 0.22% of the stock is currently owned by insiders.
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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