Chemical Bank reduced its position in Mcdonald’s Corp (NYSE:MCD) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,993 shares of the fast-food giant’s stock after selling 1,016 shares during the period. Mcdonald’s comprises approximately 1.2% of Chemical Bank’s holdings, making the stock its 13th largest position. Chemical Bank’s holdings in Mcdonald’s were worth $9,943,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. United Income Inc. purchased a new position in Mcdonald’s in the 4th quarter worth approximately $550,000. Manning & Napier Group LLC raised its holdings in Mcdonald’s by 5.8% in the 4th quarter. Manning & Napier Group LLC now owns 152,951 shares of the fast-food giant’s stock worth $27,159,000 after acquiring an additional 8,368 shares during the last quarter. Cozad Asset Management Inc. raised its holdings in Mcdonald’s by 5.0% in the 4th quarter. Cozad Asset Management Inc. now owns 7,398 shares of the fast-food giant’s stock worth $1,314,000 after acquiring an additional 355 shares during the last quarter. Cerebellum GP LLC raised its holdings in Mcdonald’s by 27.9% in the 4th quarter. Cerebellum GP LLC now owns 1,423 shares of the fast-food giant’s stock worth $253,000 after acquiring an additional 310 shares during the last quarter. Finally, Allen Capital Group LLC purchased a new position in Mcdonald’s in the 4th quarter worth approximately $208,000. Institutional investors own 67.39% of the company’s stock.
A number of equities research analysts have weighed in on MCD shares. Barclays set a $198.00 target price on shares of Mcdonald’s and gave the company 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 boosted their target price for the company from $173.00 to $210.00 in a research note on Thursday, November 29th. Piper Jaffray Companies boosted their target price on shares of Mcdonald’s to $194.00 and gave the company an “overweight” rating in a research note on Wednesday, November 28th. Jefferies Financial Group reiterated a “buy” rating and set a $200.00 target price on shares of Mcdonald’s in a research note on Tuesday, December 4th. Finally, Zacks Investment Research upgraded shares of Mcdonald’s from a “hold” rating to a “buy” rating and set a $208.00 target price for the company in a research note on Wednesday, December 5th. Six investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $194.11.
NYSE:MCD opened at $185.33 on Friday. The firm has a market capitalization of $139.85 billion, a PE ratio of 23.46, a P/E/G ratio of 2.52 and a beta of 0.53. Mcdonald’s Corp has a one year low of $153.13 and a one year high of $190.88.
Mcdonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, January 30th. The fast-food giant reported $1.97 EPS for the quarter, topping the consensus estimate of $1.90 by $0.07. The firm had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.16 billion. Mcdonald’s had a negative return on equity of 104.38% and a net margin of 28.18%. Mcdonald’s’s revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.71 EPS. As a group, research analysts anticipate that Mcdonald’s Corp will post 8.15 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $1.16 dividend. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $4.64 annualized dividend and a dividend yield of 2.50%. Mcdonald’s’s dividend payout ratio (DPR) is 58.73%.
In related news, Chairman Andrew J. Mckenna sold 30,000 shares of the company’s stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $180.27, for a total value of $5,408,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David Ogden Fairhurst sold 76,411 shares of the company’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $178.25, for a total transaction of $13,620,260.75. Following the completion of the transaction, the executive vice president now directly owns 12,110 shares of the company’s stock, valued at approximately $2,158,607.50. The disclosure for this sale can be found here. Insiders sold a total of 129,775 shares of company stock valued at $23,249,437 over the last 90 days. 0.22% of the stock is currently owned by company insiders.
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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, 2018, the company operated 37,855 restaurants, including 35,085 franchised restaurants comprising 21,685 franchised to conventional franchisees, 7,225 licensed to developmental licensees, and 6,175 licensed to foreign affiliates; and 2,770 company-operated restaurants.
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