Global Trust Asset Management LLC grew its position in shares of Mcdonald’s Corp (NYSE:MCD) by 279.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,121 shares of the fast-food giant’s stock after acquiring an additional 4,506 shares during the quarter. Mcdonald’s makes up 1.0% of Global Trust Asset Management LLC’s holdings, making the stock its 26th largest holding. Global Trust Asset Management LLC’s holdings in Mcdonald’s were worth $1,087,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. United Bank raised its holdings in Mcdonald’s by 6.0% in the 2nd quarter. United Bank now owns 10,626 shares of the fast-food giant’s stock worth $1,665,000 after purchasing an additional 604 shares during the period. FMR LLC raised its holdings in Mcdonald’s by 5.5% during the second quarter. FMR LLC now owns 19,483,955 shares of the fast-food giant’s stock valued at $3,052,941,000 after acquiring an additional 1,014,792 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Mcdonald’s during the second quarter valued at about $1,028,000. Voya Investment Management LLC raised its holdings in Mcdonald’s by 0.7% during the second quarter. Voya Investment Management LLC now owns 798,884 shares of the fast-food giant’s stock valued at $125,177,000 after acquiring an additional 5,856 shares during the period. Finally, Davy Asset Management Ltd bought a new stake in Mcdonald’s during the second quarter valued at about $994,000. 67.16% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Mcdonald’s stock traded up $0.79 on Friday, hitting $182.34. 1,943,346 shares of the company traded hands, compared to its average volume of 3,419,010. Mcdonald’s Corp has a 52 week low of $146.84 and a 52 week high of $190.88. The company has a market capitalization of $138.99 billion, a PE ratio of 27.38, a P/E/G ratio of 2.48 and a beta of 0.59.
Mcdonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the previous year, the firm posted $1.76 earnings per share. The company’s revenue was down 6.7% on a year-over-year basis. As a group, research analysts expect that Mcdonald’s Corp will post 7.76 earnings per share for the current year.
In other news, CEO Stephen Easterbrook sold 201,123 shares of Mcdonald’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 completion of the sale, the chief executive officer now owns 48,925 shares of the company’s stock, valued at $8,592,697.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ian Frederick Borden sold 4,782 shares of Mcdonald’s stock in a transaction that occurred on Thursday, October 25th. The shares were 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. Insiders have sold 221,041 shares of company stock valued at $38,839,407 in the last ninety days. Insiders own 0.22% of the company’s stock.
A number of equities research analysts have commented on MCD shares. Royal Bank of Canada reissued a “buy” rating and set a $175.00 price target on shares of Mcdonald’s in a report on Thursday, September 27th. Jefferies Financial Group set a $190.00 price target on Mcdonald’s and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Wells Fargo & Co reiterated a “buy” rating and issued a $185.00 price target on shares of Mcdonald’s in a research report on Monday, September 24th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $175.00 price target on shares of Mcdonald’s in a research report on Monday, September 17th. Finally, ValuEngine upgraded Mcdonald’s from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Seven research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Mcdonald’s currently has a consensus rating of “Buy” and an average target price of $191.76.
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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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