Columbia Partners L.L.C. Investment Management reduced its stake in Mcdonald’s Corp (NYSE:MCD) by 50.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,730 shares of the fast-food giant’s stock after selling 5,800 shares during the period. Columbia Partners L.L.C. Investment Management’s holdings in Mcdonald’s were worth $958,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. CSat Investment Advisory L.P. purchased a new position in Mcdonald’s during the second quarter worth about $104,000. Quad Cities Investment Group LLC purchased a new position in Mcdonald’s during the second quarter worth about $110,000. NuWave Investment Management LLC lifted its position in Mcdonald’s by 2,485.2% during the third quarter. NuWave Investment Management LLC now owns 698 shares of the fast-food giant’s stock worth $117,000 after buying an additional 671 shares during the period. Truvestments Capital LLC purchased a new position in Mcdonald’s during the third quarter worth about $122,000. Finally, Sound Income Strategies LLC lifted its position in Mcdonald’s by 69.2% during the third quarter. Sound Income Strategies LLC now owns 743 shares of the fast-food giant’s stock worth $124,000 after buying an additional 304 shares during the period. Institutional investors and hedge funds own 67.22% of the company’s stock.
MCD stock opened at $185.45 on Friday. Mcdonald’s Corp has a 1 year low of $146.84 and a 1 year high of $190.88. The stock has a market capitalization of $142.65 billion, a PE ratio of 27.85, a P/E/G ratio of 2.71 and a beta of 0.55.
Mcdonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.11. Mcdonald’s had a negative return on equity of 116.43% and a net margin of 24.56%. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the firm earned $1.76 earnings per share. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. Analysts expect that Mcdonald’s Corp will post 7.76 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a $1.16 dividend. The ex-dividend date is Friday, November 30th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.50%. This is a positive change from Mcdonald’s’s previous quarterly dividend of $1.01. Mcdonald’s’s dividend payout ratio (DPR) is 69.67%.
In other news, CEO Stephen Easterbrook sold 201,123 shares of the stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $175.63, for a total value of $35,323,232.49. Following the completion of the sale, the chief executive officer now owns 48,925 shares in the company, valued at $8,592,697.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ian Frederick Borden sold 4,782 shares of the stock in a transaction dated Thursday, October 25th. The shares were sold at an average price of $177.68, for a total value of $849,665.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 221,041 shares of company stock valued at $38,839,407. Insiders own 0.22% of the company’s stock.
Several equities analysts recently weighed in on the company. Barclays set a $198.00 target price on Mcdonald’s and gave the stock a “buy” rating in a research report on Monday, November 19th. Morgan Stanley upgraded Mcdonald’s from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $173.00 to $210.00 in a research report on Thursday, November 29th. Piper Jaffray Companies increased their target price on Mcdonald’s to $194.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 28th. Jefferies Financial Group reiterated a “buy” rating and set a $200.00 target price on shares of Mcdonald’s in a research report on Tuesday. Finally, Cowen raised their price objective on Mcdonald’s from $190.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, November 9th. Six investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $191.69.
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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.
Further Reading: Earnings Reports
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