People s United Financial Inc. decreased its position in Mcdonald’s Corp (NYSE:MCD) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 850,691 shares of the fast-food giant’s stock after selling 15,730 shares during the quarter. Mcdonald’s makes up approximately 4.4% of People s United Financial Inc.’s portfolio, making the stock its largest position. People s United Financial Inc. owned about 0.11% of Mcdonald’s worth $142,312,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Mcdonald’s by 5.5% in the 2nd quarter. FMR LLC now owns 19,483,955 shares of the fast-food giant’s stock worth $3,052,941,000 after buying an additional 1,014,792 shares during the last quarter. Fundsmith Equity Fund L.P. purchased a new position in shares of Mcdonald’s in the 2nd quarter worth about $1,191,239,000. Janus Henderson Group PLC boosted its holdings in shares of Mcdonald’s by 5.4% in the 2nd quarter. Janus Henderson Group PLC now owns 8,107,972 shares of the fast-food giant’s stock worth $1,270,446,000 after buying an additional 412,750 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Mcdonald’s by 6,582,167.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,964,544 shares of the fast-food giant’s stock worth $1,332,390,000 after buying an additional 7,964,423 shares during the last quarter. Finally, Magellan Asset Management Ltd boosted its holdings in shares of Mcdonald’s by 0.4% in the 2nd quarter. Magellan Asset Management Ltd now owns 5,955,794 shares of the fast-food giant’s stock worth $933,213,000 after buying an additional 20,873 shares during the last quarter. Hedge funds and other institutional investors own 67.22% of the company’s stock.
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 value of $2,666,509.12. Following the sale, the executive vice president now directly owns 17,306 shares of the company’s stock, valued at $3,048,798.02. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the chief executive officer now directly owns 48,925 shares in the company, valued at $8,592,697.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 221,041 shares of company stock worth $38,839,407. Insiders own 0.22% of the company’s stock.
A number of brokerages recently weighed in on MCD. Zacks Investment Research downgraded shares of Mcdonald’s from a “buy” rating to a “hold” rating in a report on Friday. Jefferies Financial Group reissued a “buy” rating and issued a $200.00 price target on shares of Mcdonald’s in a report on Tuesday. Morgan Stanley raised shares of Mcdonald’s from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $173.00 to $210.00 in a report on Thursday, November 29th. Piper Jaffray Companies boosted their price target on shares of Mcdonald’s to $194.00 and gave the stock an “overweight” rating in a report on Wednesday, November 28th. Finally, Wells Fargo & Co boosted their price target on shares of Mcdonald’s from $197.00 to $202.00 and gave the stock an “outperform” rating in a report on Wednesday, November 21st. Seven investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $191.69.
Shares of Mcdonald’s stock opened at $182.96 on Friday. Mcdonald’s Corp has a 12-month low of $146.84 and a 12-month high of $190.88. The stock has a market capitalization of $142.97 billion, a PE ratio of 27.47, a PEG ratio of 2.72 and a beta of 0.55.
Mcdonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the prior year, the firm posted $1.76 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. As a group, research analysts predict that Mcdonald’s Corp will post 7.76 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.54%. This is an increase from Mcdonald’s’s previous quarterly dividend of $1.01. The ex-dividend date is Friday, November 30th. Mcdonald’s’s dividend payout ratio is presently 69.67%.
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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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