TCI Wealth Advisors Inc. lifted its stake in Mcdonald’s Corp (NYSE:MCD) by 6.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,263 shares of the fast-food giant’s stock after buying an additional 1,629 shares during the period. Mcdonald’s makes up approximately 1.8% of TCI Wealth Advisors Inc.’s investment portfolio, making the stock its 10th biggest position. TCI Wealth Advisors Inc.’s holdings in Mcdonald’s were worth $4,393,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the stock. CSat Investment Advisory L.P. acquired a new position in shares of Mcdonald’s during the second quarter worth $104,000. CX Institutional acquired a new position in shares of Mcdonald’s during the second quarter worth $109,000. Quad Cities Investment Group LLC acquired a new position in shares of Mcdonald’s during the second quarter worth $110,000. NuWave Investment Management LLC increased its holdings in shares of Mcdonald’s by 2,485.2% during the third quarter. NuWave Investment Management LLC now owns 698 shares of the fast-food giant’s stock worth $117,000 after buying an additional 671 shares in the last quarter. Finally, Horan Capital Management acquired a new position in shares of Mcdonald’s during the second quarter worth $121,000. Institutional investors and hedge funds own 66.92% of the company’s stock.
Several brokerages have recently issued reports on MCD. Royal Bank of Canada set a $175.00 price target on shares of Mcdonald’s and gave the stock a “buy” rating in a report on Thursday, July 26th. Sanford C. Bernstein reiterated a “buy” rating and set a $195.00 price target on shares of Mcdonald’s in a report on Tuesday, October 23rd. Cowen upped their price target on shares of Mcdonald’s from $190.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday. Telsey Advisory Group lowered their price target on shares of Mcdonald’s from $190.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, July 27th. Finally, Stifel Nicolaus reiterated a “neutral” rating and set a $168.00 price target on shares of Mcdonald’s in a report on Monday, August 20th. Seven investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $189.44.
Shares of MCD opened at $185.94 on Friday. The firm has a market cap of $142.04 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 2.71 and a beta of 0.53. Mcdonald’s Corp has a 12 month low of $146.84 and a 12 month high of $186.58.
Mcdonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.99 by $0.11. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.28 billion. Mcdonald’s had a net margin of 24.56% and a negative return on equity of 116.43%. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.76 earnings per share. On average, equities research analysts expect that Mcdonald’s Corp will post 7.75 EPS for the current fiscal 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 given a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $4.64 dividend on an annualized basis and a yield of 2.50%. 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 news, EVP Francesca A. Debiase sold 15,136 shares of the stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $176.17, for a total transaction of $2,666,509.12. Following the transaction, the executive vice president now owns 17,306 shares of the company’s stock, valued at approximately $3,048,798.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction of $849,665.76. The disclosure for this sale can be found here. Insiders have sold 221,041 shares of company stock worth $38,839,407 in the last ninety days. Insiders own 0.22% of the company’s stock.
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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