Citizens Financial Group Inc RI decreased its position in shares of Mcdonald’s Corp (NYSE:MCD) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,922 shares of the fast-food giant’s stock after selling 973 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Mcdonald’s were worth $12,032,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Fundsmith Equity Fund L.P. acquired a new position in shares of Mcdonald’s in the 2nd quarter valued at $1,191,239,000. AustralianSuper Pty Ltd acquired a new position in shares of Mcdonald’s in the 2nd quarter valued at $179,723,000. Scopus Asset Management L.P. lifted its stake 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 period. Alphinity Investment Management Pty Ltd acquired a new position in shares of Mcdonald’s in the 3rd quarter valued at $16,552,000. Finally, Advisory Services Network LLC lifted its stake 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 period. 66.92% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on MCD. Zacks Investment Research raised Mcdonald’s from a “hold” rating to a “buy” rating and set a $199.00 price target on the stock in a research note on Friday, October 26th. Robert W. Baird reissued a “buy” rating and issued a $200.00 price target on shares of Mcdonald’s in a research note on Wednesday, October 24th. Telsey Advisory Group lowered 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. JPMorgan Chase & Co. set a $180.00 price objective on shares of Mcdonald’s and gave the company a “buy” rating in a research report on Wednesday, October 24th. Finally, Cowen upped their price objective on shares of Mcdonald’s from $190.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $189.44.
MCD stock opened at $185.94 on Friday. The stock has a market cap 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 Corp has a 1 year low of $146.84 and a 1 year high of $186.58.
Mcdonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.11. The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Mcdonald’s had a negative return on equity of 116.43% and a net margin of 24.56%. The company’s revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.76 EPS. On average, equities analysts forecast that Mcdonald’s Corp will post 7.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Friday, November 30th. This is a boost from Mcdonald’s’s previous quarterly dividend of $1.01. Mcdonald’s’s dividend payout ratio is 60.66%.
In other Mcdonald’s news, CEO Stephen Easterbrook sold 201,123 shares of the 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 transaction, the chief executive officer now owns 48,925 shares in the company, valued at approximately $8,592,697.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ian Frederick Borden sold 4,782 shares of the stock in a transaction dated Thursday, October 25th. The stock was sold at an average price of $177.68, for a total value of $849,665.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 221,041 shares of company stock valued at $38,839,407. Corporate insiders own 0.22% of the company’s stock.
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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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