Buckingham Asset Management LLC Trims Stake in Mcdonald’s Corp (MCD)

Buckingham Asset Management LLC reduced its stake in shares of Mcdonald’s Corp (NYSE:MCD) by 3.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,451 shares of the fast-food giant’s stock after selling 649 shares during the period. Buckingham Asset Management LLC’s holdings in Mcdonald’s were worth $3,421,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in MCD. CSat Investment Advisory L.P. bought a new position in shares of Mcdonald’s during the 2nd quarter valued at approximately $104,000. CX Institutional bought a new position in shares of Mcdonald’s during the 2nd quarter valued at approximately $109,000. Quad Cities Investment Group LLC bought a new position in shares of Mcdonald’s during the 2nd quarter valued at approximately $110,000. NuWave Investment Management LLC grew its position in shares of Mcdonald’s by 2,485.2% during the 3rd quarter. NuWave Investment Management LLC now owns 698 shares of the fast-food giant’s stock valued at $117,000 after acquiring an additional 671 shares during the period. Finally, Horan Capital Management bought a new position in shares of Mcdonald’s during the 2nd quarter valued at approximately $121,000. 66.92% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:MCD opened at $185.94 on Friday. Mcdonald’s Corp has a one year low of $146.84 and a one year high of $186.58. The firm has a market capitalization of $140.85 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 2.68 and a beta of 0.53.

Mcdonald’s (NYSE:MCD) last announced its quarterly earnings results 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. Mcdonald’s had a net margin of 24.56% and a negative return on equity of 116.43%. The firm 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 firm earned $1.76 EPS. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. On average, equities research analysts anticipate that Mcdonald’s Corp will post 7.75 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.50%. This is an increase from Mcdonald’s’s previous quarterly dividend of $1.01. The ex-dividend date is Friday, November 30th. Mcdonald’s’s dividend payout ratio (DPR) is presently 60.66%.

A number of research firms have recently weighed in on MCD. Cowen increased their target price on shares of Mcdonald’s from $190.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday. Citigroup increased their target price on shares of Mcdonald’s from $171.00 to $189.00 and gave the company a “neutral” rating in a research report on Tuesday, October 30th. Goldman Sachs Group reissued a “buy” rating and set a $195.00 target price on shares of Mcdonald’s in a research report on Friday, October 26th. Zacks Investment Research raised shares of Mcdonald’s from a “hold” rating to a “buy” rating and set a $199.00 target price for the company in a research report on Friday, October 26th. Finally, Morgan Stanley reaffirmed a “neutral” rating and issued a $173.00 price objective on shares of Mcdonald’s in a report on Wednesday, October 24th. Seven investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Mcdonald’s presently has an average rating of “Buy” and a consensus price target of $189.44.

In other Mcdonald’s 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 value of $2,666,509.12. Following the completion of the transaction, the executive vice president now directly owns 17,306 shares of the company’s stock, valued at approximately $3,048,798.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 completion of the transaction, the chief executive officer now directly owns 48,925 shares of the company’s stock, valued at $8,592,697.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 221,041 shares of company stock valued at $38,839,407. Insiders own 0.22% of the company’s stock.

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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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Institutional Ownership by Quarter for Mcdonald`s (NYSE:MCD)

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