Connors Investor Services Inc. bought a new stake in shares of Mcdonald’s Corp (NYSE:MCD) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 1,205 shares of the fast-food giant’s stock, valued at approximately $202,000.
A number of other hedge funds have also recently made changes to their positions in MCD. CSat Investment Advisory L.P. acquired a new position in shares of Mcdonald’s in the 2nd quarter valued at $104,000. Quad Cities Investment Group LLC acquired a new position in shares of Mcdonald’s in the 2nd quarter valued at $110,000. NuWave Investment Management LLC boosted its position in shares of Mcdonald’s by 2,485.2% in the 3rd 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 during the period. Truvestments Capital LLC acquired a new position in shares of Mcdonald’s in the 3rd quarter valued at $122,000. Finally, Sound Income Strategies LLC boosted its position in shares of Mcdonald’s by 69.2% in the 3rd quarter. Sound Income Strategies LLC now owns 743 shares of the fast-food giant’s stock valued at $124,000 after purchasing an additional 304 shares during the period. 67.22% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Stephen Easterbrook sold 201,123 shares of the firm’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Francesca A. Debiase sold 15,136 shares of the firm’s stock in a transaction dated 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. Insiders have sold a total of 221,041 shares of company stock valued at $38,839,407 over the last ninety days. Company insiders own 0.22% of the company’s stock.
MCD opened at $182.96 on Friday. Mcdonald’s Corp has a fifty-two week low of $146.84 and a fifty-two week high of $190.88. The stock has a market cap of $142.65 billion, a PE ratio of 27.47, a PEG ratio of 2.71 and a beta of 0.55.
Mcdonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the business earned $1.76 EPS. The business’s quarterly revenue was down 6.7% on a year-over-year basis. As a group, equities research analysts anticipate that Mcdonald’s Corp will post 7.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a dividend of $1.16 per share. The ex-dividend date is Friday, November 30th. This is an increase from Mcdonald’s’s previous quarterly dividend of $1.01. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.54%. Mcdonald’s’s dividend payout ratio (DPR) is 69.67%.
MCD has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Mcdonald’s from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a research report on Monday, November 26th. ValuEngine upgraded Mcdonald’s from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Jefferies Financial Group raised their price objective on Mcdonald’s from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Wells Fargo & Co restated a “buy” rating and set a $185.00 price objective on shares of Mcdonald’s in a research report on Monday, September 24th. Finally, Morgan Stanley restated a “neutral” rating and set a $173.00 price objective on shares of Mcdonald’s in a research report on Wednesday, October 24th. Seven analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The company 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.
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