Woodmont Investment Counsel LLC cut its holdings in Mcdonald’s Corp (NYSE:MCD) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,341 shares of the fast-food giant’s stock after selling 787 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Mcdonald’s were worth $3,403,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. CSat Investment Advisory L.P. acquired a new stake in Mcdonald’s in the second quarter valued at about $104,000. Quad Cities Investment Group LLC acquired a new stake in Mcdonald’s in the second quarter valued at about $110,000. NuWave Investment Management LLC boosted its stake in 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 Mcdonald’s in the third quarter valued at about $122,000. Finally, Sound Income Strategies LLC boosted its stake in 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. 67.22% of the stock is currently owned by institutional investors and hedge funds.
In other 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 completion of the transaction, the chief executive officer now directly owns 48,925 shares in the company, valued at $8,592,697.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ian Frederick Borden sold 4,782 shares of the firm’s stock in a transaction dated Thursday, October 25th. The stock was 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. Insiders have sold 221,041 shares of company stock valued at $38,839,407 over the last 90 days. 0.22% of the stock is owned by corporate insiders.
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 PE 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 quarterly earnings data 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 company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the company earned $1.76 earnings per share. The firm’s revenue was down 6.7% compared to the same quarter last year. On average, research analysts predict that Mcdonald’s Corp will post 7.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be given a dividend of $1.16 per share. 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 (DPR) is 69.67%.
Several research firms have commented on MCD. Goldman Sachs Group increased their target price on Mcdonald’s from $179.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, September 11th. Royal Bank of Canada set a $190.00 target price on Mcdonald’s and gave the company a “buy” rating in a research report on Wednesday, October 24th. Gordon Haskett began coverage on Mcdonald’s in a research report on Thursday, October 18th. They issued a “buy” rating and a $185.00 target price for the company. SunTrust Banks increased their target price on Mcdonald’s to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 24th. Finally, UBS Group increased their target price on Mcdonald’s from $170.00 to $185.00 and gave the company a “neutral” rating in a research report on Wednesday, October 24th. Seven analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Mcdonald’s has an average rating of “Buy” and a consensus price target of $191.69.
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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