OppenheimerFunds Inc. lessened its stake in shares of Mcdonald’s Corp (NYSE:MCD) by 25.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,553,867 shares of the fast-food giant’s stock after selling 520,807 shares during the quarter. OppenheimerFunds Inc. owned about 0.20% of Mcdonald’s worth $259,948,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in MCD. FMR LLC lifted its stake 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 purchasing an additional 1,014,792 shares during the period. Fundsmith Equity Fund L.P. bought a new position in shares of Mcdonald’s in the 2nd quarter worth approximately $1,191,239,000. Janus Henderson Group PLC lifted its stake 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 purchasing an additional 412,750 shares during the period. Bank of New York Mellon Corp lifted its stake 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 purchasing an additional 7,964,423 shares during the period. Finally, Magellan Asset Management Ltd lifted its stake 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 purchasing an additional 20,873 shares during the period. 67.22% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the stock. Barclays set a $198.00 price objective on shares of Mcdonald’s and gave the stock a “buy” rating in a research note on Monday, November 19th. Morgan Stanley upgraded shares of Mcdonald’s from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $173.00 to $210.00 in a research note on Thursday, November 29th. Piper Jaffray Companies increased their price objective on shares of Mcdonald’s to $194.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 28th. Jefferies Financial Group reiterated a “buy” rating and issued a $200.00 price objective on shares of Mcdonald’s in a research note on Tuesday. Finally, Cowen increased their price objective on shares of Mcdonald’s from $190.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, November 9th. Seven analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $191.69.
NYSE MCD 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 company has a market cap of $142.97 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 2.72 and a beta of 0.55.
Mcdonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 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 company 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 EPS. The firm’s revenue was down 6.7% compared to the same quarter last year. On average, equities analysts forecast that Mcdonald’s Corp will post 7.76 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 paid a dividend of $1.16 per share. This is a boost from Mcdonald’s’s previous quarterly dividend of $1.01. The ex-dividend date is Friday, November 30th. This represents a $4.64 dividend on an annualized basis and a yield of 2.54%. Mcdonald’s’s dividend payout ratio (DPR) is presently 69.67%.
In other Mcdonald’s news, CEO Stephen Easterbrook sold 201,123 shares of the firm’s stock in a transaction that occurred on Wednesday, October 24th. The shares were sold at an average price of $175.63, for a total transaction of $35,323,232.49. Following the sale, 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 document filed with the SEC, which is available through this hyperlink. Also, insider Ian Frederick Borden sold 4,782 shares of the firm’s stock in a transaction that occurred on 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. In the last 90 days, insiders have sold 221,041 shares of company stock worth $38,839,407. 0.22% of the stock is owned by company insiders.
Mcdonald’s Company Profile
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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