Eagle Asset Management Inc. grew its stake in shares of Mcdonald’s Corp (NYSE:MCD) by 10.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 701,927 shares of the fast-food giant’s stock after purchasing an additional 66,708 shares during the quarter. Mcdonald’s comprises about 0.8% of Eagle Asset Management Inc.’s portfolio, making the stock its 16th biggest holding. Eagle Asset Management Inc. owned about 0.09% of Mcdonald’s worth $150,710,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Mcdonald’s by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 66,926,245 shares of the fast-food giant’s stock worth $13,897,903,000 after acquiring an additional 857,084 shares during the period. BlackRock Inc. boosted its stake in shares of Mcdonald’s by 1.1% during the 2nd quarter. BlackRock Inc. now owns 50,805,829 shares of the fast-food giant’s stock worth $10,550,339,000 after acquiring an additional 545,903 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Mcdonald’s by 11.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 16,562,216 shares of the fast-food giant’s stock worth $3,439,309,000 after acquiring an additional 1,640,747 shares during the period. Morgan Stanley boosted its stake in shares of Mcdonald’s by 7.0% during the 2nd quarter. Morgan Stanley now owns 6,127,745 shares of the fast-food giant’s stock worth $1,272,485,000 after acquiring an additional 402,857 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of Mcdonald’s by 2,674.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 5,707,504 shares of the fast-food giant’s stock worth $1,185,221,000 after acquiring an additional 5,501,809 shares during the period. 67.91% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently commented on MCD. ValuEngine downgraded Mcdonald’s from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Goldman Sachs Group began coverage on Mcdonald’s in a research note on Monday, July 29th. They set a “buy” rating and a $250.00 target price for the company. Citigroup reduced their target price on Mcdonald’s from $221.00 to $216.00 and set a “neutral” rating for the company in a research note on Monday. MKM Partners reduced their target price on Mcdonald’s from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Monday. Finally, SunTrust Banks reduced their price target on Mcdonald’s from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $222.96.
MCD traded up $0.53 during trading on Friday, hitting $193.61. The stock had a trading volume of 3,499,020 shares, compared to its average volume of 3,371,192. The company has a 50 day moving average price of $204.71 and a 200-day moving average price of $207.29. The firm has a market cap of $144.73 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 3.04 and a beta of 0.48. Mcdonald’s Corp has a one year low of $169.04 and a one year high of $221.93.
Mcdonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 22nd. The fast-food giant reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.10). The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.47 billion. Mcdonald’s had a net margin of 28.09% and a negative return on equity of 85.71%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.10 earnings per share. As a group, sell-side analysts expect that Mcdonald’s Corp will post 7.87 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.58%. This is an increase from Mcdonald’s’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Friday, November 29th. Mcdonald’s’s dividend payout ratio is presently 58.73%.
In related news, CEO Christopher J. Kempczinski bought 2,580 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was purchased at an average cost of $193.81 per share, for a total transaction of $500,029.80. Following the transaction, the chief executive officer now owns 2,580 shares in the company, valued at approximately $500,029.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John J. Mulligan bought 1,300 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were bought at an average price of $193.46 per share, with a total value of $251,498.00. Following the completion of the transaction, the director now owns 2,900 shares in the company, valued at approximately $561,034. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company’s stock.
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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