Riverhead Capital Management LLC reduced its stake in shares of Mcdonald’s Corp (NYSE:MCD) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,483 shares of the fast-food giant’s stock after selling 2,550 shares during the quarter. Riverhead Capital Management LLC’s holdings in Mcdonald’s were worth $8,947,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in MCD. CSat Investment Advisory L.P. acquired a new stake in shares of Mcdonald’s in the second quarter valued at $104,000. Quad Cities Investment Group LLC acquired a new stake in shares of Mcdonald’s in the second quarter valued at $110,000. NuWave Investment Management LLC increased its stake in shares of Mcdonald’s by 2,485.2% in the third quarter. NuWave Investment Management LLC now owns 698 shares of the fast-food giant’s stock valued at $117,000 after buying an additional 671 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of Mcdonald’s in the third quarter valued at $122,000. Finally, Sound Income Strategies LLC increased its stake in shares of Mcdonald’s by 69.2% in the third quarter. Sound Income Strategies LLC now owns 743 shares of the fast-food giant’s stock valued at $124,000 after buying an additional 304 shares in the last quarter. Institutional investors own 67.22% of the company’s stock.
In other Mcdonald’s news, CEO Stephen Easterbrook sold 201,123 shares of the firm’s 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 transaction, the chief executive officer now owns 48,925 shares in the company, valued at $8,592,697.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ian Frederick Borden sold 4,782 shares of Mcdonald’s stock in a transaction dated Thursday, October 25th. The shares were 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 90 days, insiders have sold 221,041 shares of company stock worth $38,839,407. Company insiders own 0.22% of the company’s stock.
Shares of MCD opened at $182.96 on Friday. Mcdonald’s Corp has a 1 year low of $146.84 and a 1 year high of $190.88. The stock has a market cap of $142.97 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 2.72 and a beta of 0.55.
Mcdonald’s (NYSE:MCD) last issued 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. Mcdonald’s had a negative return on equity of 116.43% and a net margin of 24.56%. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the business earned $1.76 earnings per share. The company’s revenue was down 6.7% compared to the same quarter last year. On average, sell-side analysts expect that Mcdonald’s Corp will post 7.76 EPS for the current year.
The business 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. 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 2.54%. This is a boost from Mcdonald’s’s previous quarterly dividend of $1.01. Mcdonald’s’s dividend payout ratio (DPR) is 69.67%.
MCD has been the subject of a number of research reports. Zacks Investment Research upgraded Mcdonald’s from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research report on Monday, November 26th. ValuEngine upgraded Mcdonald’s from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Jefferies Financial Group lifted their price objective on Mcdonald’s from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Wells Fargo & Co reiterated a “buy” rating and issued a $185.00 price objective on shares of Mcdonald’s in a research report on Monday, September 24th. Finally, Morgan Stanley reiterated a “neutral” rating and issued a $173.00 price objective on shares of Mcdonald’s in a research report on Wednesday, October 24th. 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 presently has a consensus rating of “Buy” and an average target price of $191.69.
ILLEGAL ACTIVITY NOTICE: This report was originally reported by American Banking News and is owned by of American Banking News. If you are reading this report on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.americanbankingnews.com/2018/12/08/mcdonalds-corp-mcd-holdings-cut-by-riverhead-capital-management-llc.html.
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.
Featured Story: What is an investor looking for in an SEC filing?
Receive News & Ratings for Mcdonald's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mcdonald's and related companies with MarketBeat.com's FREE daily email newsletter.