Canada Pension Plan Investment Board trimmed its stake in Mcdonald’s Corp (NYSE:MCD) by 86.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 91,910 shares of the fast-food giant’s stock after selling 580,185 shares during the period. Canada Pension Plan Investment Board’s holdings in Mcdonald’s were worth $15,376,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of MCD. CSat Investment Advisory L.P. bought a new position in Mcdonald’s in the 2nd quarter worth approximately $104,000. Quad Cities Investment Group LLC bought a new position in Mcdonald’s in the 2nd quarter worth approximately $110,000. NuWave Investment Management LLC increased its position in Mcdonald’s by 2,485.2% in the 3rd 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 during the period. Truvestments Capital LLC bought a new position in Mcdonald’s in the 3rd quarter worth approximately $122,000. Finally, Sound Income Strategies LLC increased its position in Mcdonald’s by 69.2% in the 3rd quarter. Sound Income Strategies LLC now owns 743 shares of the fast-food giant’s stock worth $124,000 after buying an additional 304 shares during the period. 66.25% of the stock is currently owned by institutional investors and hedge funds.
MCD opened at $188.51 on Monday. The company has a market cap of $145.32 billion, a PE ratio of 28.30, a PEG ratio of 2.76 and a beta of 0.53. Mcdonald’s Corp has a 1 year low of $146.84 and a 1 year high of $190.88.
Mcdonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 negative return on equity of 116.43% and a net margin of 24.56%. Mcdonald’s’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.76 earnings per share. On average, analysts predict that Mcdonald’s Corp will post 7.76 EPS 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 given a dividend of $1.16 per share. 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. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.46%. Mcdonald’s’s payout ratio is currently 60.66%.
MCD has been the topic of several recent analyst reports. Gordon Haskett initiated coverage on Mcdonald’s in a research report on Thursday, October 18th. They issued a “buy” rating and a $185.00 price target on the stock. Cowen lifted their price target on Mcdonald’s from $190.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, November 9th. Piper Jaffray Companies lifted their price target on Mcdonald’s to $194.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 28th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $175.00 price target on shares of Mcdonald’s in a research report on Thursday, September 27th. Finally, ValuEngine raised Mcdonald’s from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Seven investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Mcdonald’s presently has an average rating of “Buy” and an average price target of $191.58.
In related news, insider Ian Frederick Borden sold 4,782 shares of the business’s stock in a transaction on Thursday, October 25th. The stock was sold at an average price of $177.68, for a total value of $849,665.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Stephen Easterbrook sold 201,123 shares of the business’s stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $175.63, for a total value of $35,323,232.49. Following the completion of the sale, the chief executive officer now directly owns 48,925 shares in the company, valued at approximately $8,592,697.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,041 shares of company stock worth $38,839,407. 0.22% of the stock is currently owned by company insiders.
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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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