Cadence Capital Management LLC raised its position in shares of Mcdonald’s Corp (NYSE:MCD) by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 76,862 shares of the fast-food giant’s stock after buying an additional 4,331 shares during the quarter. Cadence Capital Management LLC’s holdings in Mcdonald’s were worth $12,858,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Fundsmith Equity Fund L.P. purchased a new position in shares of Mcdonald’s in the 2nd quarter valued at approximately $1,191,239,000. AustralianSuper Pty Ltd purchased a new position in shares of Mcdonald’s in the 2nd quarter valued at approximately $179,723,000. Scopus Asset Management L.P. raised its position in shares of Mcdonald’s by 20.0% in the 2nd quarter. Scopus Asset Management L.P. now owns 300,000 shares of the fast-food giant’s stock valued at $47,007,000 after purchasing an additional 50,000 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in shares of Mcdonald’s in the 3rd quarter valued at approximately $16,552,000. Finally, Advisory Services Network LLC raised its position in shares of Mcdonald’s by 5.0% in the 3rd quarter. Advisory Services Network LLC now owns 15,974 shares of the fast-food giant’s stock valued at $2,673,000 after purchasing an additional 754 shares during the last quarter. 66.92% of the stock is owned by institutional investors and hedge funds.
MCD has been the subject of several research analyst reports. Stifel Nicolaus reaffirmed a “neutral” rating and issued a $168.00 price objective on shares of Mcdonald’s in a research report on Monday, July 16th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $178.00 price objective on shares of Mcdonald’s in a research report on Tuesday, July 24th. Royal Bank of Canada set a $175.00 price objective on shares of Mcdonald’s and gave the company a “buy” rating in a research report on Thursday, July 26th. Stephens decreased their price objective on shares of Mcdonald’s from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Thursday, July 26th. Finally, Telsey Advisory Group decreased their price objective on shares of Mcdonald’s from $190.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, July 27th. Seven research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Mcdonald’s presently has a consensus rating of “Buy” and a consensus target price of $189.44.
In other news, CEO Stephen Easterbrook sold 201,123 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 48,925 shares of the company’s stock, valued at approximately $8,592,697.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ian Frederick Borden sold 4,782 shares of the firm’s stock in a transaction that occurred on Thursday, October 25th. The stock was sold at an average price of $177.68, for a total transaction of $849,665.76. The disclosure for this sale can be found here. Insiders have sold a total of 221,041 shares of company stock worth $38,839,407 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.
Shares of NYSE:MCD opened at $185.94 on Friday. Mcdonald’s Corp has a twelve month low of $146.84 and a twelve month high of $186.58. The company has a market capitalization of $140.85 billion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 2.68 and a beta of 0.53.
Mcdonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share for the quarter, topping 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 company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the prior year, the company earned $1.76 EPS. Mcdonald’s’s quarterly revenue was down 6.7% on a year-over-year basis. Analysts expect that Mcdonald’s Corp will post 7.75 earnings per share for the current 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 paid a dividend of $1.16 per share. This is a boost from Mcdonald’s’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Friday, November 30th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.50%. Mcdonald’s’s dividend payout ratio (DPR) is presently 60.66%.
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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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