American Century Companies Inc. lessened its stake in Mcdonald’s Corp (NYSE:MCD) by 1.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,017,793 shares of the fast-food giant’s stock after selling 13,289 shares during the quarter. American Century Companies Inc.’s holdings in Mcdonald’s were worth $170,267,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Mcdonald’s by 7.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,367,530 shares of the fast-food giant’s stock worth $213,854,000 after purchasing an additional 91,288 shares in the last quarter. Xact Kapitalforvaltning AB grew its position in shares of Mcdonald’s by 0.7% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 149,494 shares of the fast-food giant’s stock worth $23,424,000 after purchasing an additional 1,000 shares in the last quarter. CX Institutional acquired a new position in shares of Mcdonald’s during the 2nd quarter worth approximately $109,000. Confluence Investment Management LLC grew its position in shares of Mcdonald’s by 3.1% during the 2nd quarter. Confluence Investment Management LLC now owns 111,888 shares of the fast-food giant’s stock worth $17,532,000 after purchasing an additional 3,313 shares in the last quarter. Finally, FormulaFolio Investments LLC grew its position in shares of Mcdonald’s by 118.3% during the 2nd quarter. FormulaFolio Investments LLC now owns 6,286 shares of the fast-food giant’s stock worth $985,000 after purchasing an additional 3,407 shares in the last quarter. Institutional investors and hedge funds own 66.92% of the company’s stock.
A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Mcdonald’s from a “hold” rating to a “buy” rating and set a $199.00 target price on the stock in a research report on Friday, October 26th. Robert W. Baird reiterated a “buy” rating and set a $200.00 price target on shares of Mcdonald’s in a research report on Wednesday, October 24th. Telsey Advisory Group reduced their price target on shares of Mcdonald’s from $190.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, July 27th. JPMorgan Chase & Co. set a $180.00 price target on shares of Mcdonald’s and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Finally, Cowen increased their price target on shares of Mcdonald’s from $190.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday. Seven analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $189.44.
In other news, EVP Francesca A. Debiase sold 15,136 shares of the firm’s stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $176.17, for a total transaction of $2,666,509.12. Following the completion of the transaction, the executive vice president now owns 17,306 shares of the company’s stock, valued at $3,048,798.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen Easterbrook sold 201,123 shares of the firm’s stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $175.63, for a total transaction of $35,323,232.49. Following the transaction, the chief executive officer now directly owns 48,925 shares of the company’s stock, valued at approximately $8,592,697.75. The disclosure for this sale can be found here. In the last three months, insiders sold 221,041 shares of company stock valued at $38,839,407. 0.22% of the stock is owned by insiders.
Shares of NYSE:MCD opened at $185.94 on Friday. The company has a market capitalization of $140.85 billion, a P/E ratio of 27.92, a P/E/G ratio of 2.68 and a beta of 0.53. Mcdonald’s Corp has a one year low of $146.84 and a one year high of $186.58.
Mcdonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 23rd. The fast-food giant reported $2.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.99 by $0.11. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.28 billion. Mcdonald’s had a net margin of 24.56% and a negative return on equity of 116.43%. The firm’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.76 EPS. On average, equities analysts expect that Mcdonald’s Corp will post 7.75 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be paid a $1.16 dividend. This is an increase from Mcdonald’s’s previous quarterly dividend of $1.01. The ex-dividend date is Friday, November 30th. This represents a $4.64 annualized dividend and a yield of 2.50%. Mcdonald’s’s dividend payout ratio is presently 60.66%.
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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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