Berkshire Asset Management LLC PA lifted its position in shares of Mcdonald’s Corp (NYSE:MCD) by 7.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,786 shares of the fast-food giant’s stock after buying an additional 9,424 shares during the period. Mcdonald’s makes up approximately 1.9% of Berkshire Asset Management LLC PA’s portfolio, making the stock its 19th largest position. Berkshire Asset Management LLC PA’s holdings in Mcdonald’s were worth $22,214,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MCD. Rainier Group Investment Advisory LLC acquired a new stake in Mcdonald’s in the 1st quarter valued at approximately $102,000. CSat Investment Advisory L.P. acquired a new stake in Mcdonald’s in the 2nd quarter valued at approximately $104,000. CX Institutional acquired a new stake in Mcdonald’s in the 2nd quarter valued at approximately $109,000. Quad Cities Investment Group LLC acquired a new stake in Mcdonald’s in the 2nd quarter valued at approximately $110,000. Finally, Horan Capital Management acquired a new stake in Mcdonald’s in the 2nd quarter valued at approximately $121,000. Institutional investors and hedge funds own 66.98% of the company’s stock.
MCD has been the subject of several research reports. Wells Fargo & Co reiterated a “buy” rating and issued a $185.00 target price on shares of Mcdonald’s in a report on Thursday, June 21st. Royal Bank of Canada reiterated a “buy” rating and issued a $175.00 target price on shares of Mcdonald’s in a report on Monday, July 9th. Cleveland Research downgraded shares of Mcdonald’s from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Jefferies Financial Group reiterated a “buy” rating and issued a $200.00 target price on shares of Mcdonald’s in a report on Wednesday, July 11th. Finally, Stifel Nicolaus restated a “neutral” rating and issued a $168.00 price target on shares of Mcdonald’s in a research note on Monday, July 16th. Seven analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $183.29.
NYSE:MCD opened at $163.82 on Friday. The firm has a market capitalization of $129.78 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 2.49 and a beta of 0.66. The company has a debt-to-equity ratio of -5.24, a current ratio of 1.47 and a quick ratio of 1.45. Mcdonald’s Corp has a 52 week low of $146.84 and a 52 week high of $178.70.
Mcdonald’s (NYSE:MCD) last released its quarterly earnings data on Thursday, July 26th. The fast-food giant reported $1.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.07. The business had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Mcdonald’s had a net margin of 25.26% and a negative return on equity of 133.89%. The company’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.73 EPS. On average, sell-side analysts anticipate that Mcdonald’s Corp will post 7.65 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be given 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 dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, November 30th. Mcdonald’s’s payout ratio is 60.66%.
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: Understanding Price to Earnings Ratio (PE)
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