Congress Asset Management Co. MA trimmed its stake in McDonald's Co. (NYSE:MCD) by 61.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,330 shares of the fast-food giant’s stock after selling 10,081 shares during the quarter. Congress Asset Management Co. MA’s holdings in McDonald's were worth $1,090,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Horan Capital Advisors LLC. acquired a new stake in shares of McDonald's in the third quarter worth about $104,000. Phocas Financial Corp. acquired a new stake in shares of McDonald's in the second quarter worth about $107,000. Tarbox Family Office Inc. lifted its position in shares of McDonald's by 105.8% in the fourth quarter. Tarbox Family Office Inc. now owns 638 shares of the fast-food giant’s stock worth $110,000 after buying an additional 328 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in shares of McDonald's by 219.2% in the third quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 830 shares of the fast-food giant’s stock worth $130,000 after buying an additional 570 shares during the last quarter. Finally, Howe & Rusling Inc. lifted its position in shares of McDonald's by 75.0% in the third quarter. Howe & Rusling Inc. now owns 840 shares of the fast-food giant’s stock worth $132,000 after buying an additional 360 shares during the last quarter. 68.59% of the stock is owned by institutional investors and hedge funds.
In other McDonald's news, insider Douglas M. Goare sold 34,575 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $173.53, for a total transaction of $5,999,799.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Catherine A. Hoovel sold 1,398 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $170.54, for a total value of $238,414.92. Following the transaction, the vice president now directly owns 1,398 shares in the company, valued at approximately $238,414.92. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.
McDonald's (NYSE:MCD) last announced its earnings results on Tuesday, January 30th. The fast-food giant reported $1.71 EPS for the quarter, topping the consensus estimate of $1.59 by $0.12. The business had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.22 billion. McDonald's had a negative return on equity of 201.76% and a net margin of 22.75%. McDonald's’s revenue was down 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.44 EPS. research analysts anticipate that McDonald's Co. will post 7.63 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Wednesday, February 28th. McDonald's’s payout ratio is currently 55.88%.
MCD has been the subject of a number of analyst reports. ValuEngine cut McDonald's from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Jefferies Group raised McDonald's from a “hold” rating to a “buy” rating and boosted their price target for the stock from $150.00 to $200.00 in a research report on Tuesday, December 5th. Barclays set a $193.00 price target on McDonald's and gave the stock a “buy” rating in a research report on Friday, December 8th. Goldman Sachs Group set a $180.00 price target on McDonald's and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Finally, Piper Jaffray Companies boosted their price target on McDonald's from $175.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, December 14th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. McDonald's currently has an average rating of “Buy” and an average target price of $183.02.
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McDonald's Company Profile
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.
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