Chicago Partners Investment Group LLC lowered its stake in Mcdonald’s Corp (NYSE:MCD) by 19.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,663 shares of the fast-food giant’s stock after selling 2,987 shares during the period. Chicago Partners Investment Group LLC’s holdings in Mcdonald’s were worth $2,299,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of MCD. Fundsmith Equity Fund L.P. purchased a new position in shares of Mcdonald’s in the second quarter worth $1,191,239,000. Bank of New York Mellon Corp raised its holdings in shares of Mcdonald’s by 6,582,167.8% in the third 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 buying an additional 7,964,423 shares during the last quarter. FMR LLC raised its holdings in shares of Mcdonald’s by 5.5% in the second quarter. FMR LLC now owns 19,483,955 shares of the fast-food giant’s stock worth $3,052,941,000 after buying an additional 1,014,792 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Mcdonald’s by 55.1% in the third quarter. Neuberger Berman Group LLC now owns 2,581,306 shares of the fast-food giant’s stock worth $431,827,000 after buying an additional 917,442 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Mcdonald’s by 9.6% in the second quarter. Morgan Stanley now owns 5,947,311 shares of the fast-food giant’s stock worth $931,884,000 after buying an additional 522,333 shares during the last quarter. 67.16% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on MCD shares. Zacks Investment Research raised shares of Mcdonald’s from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a report on Monday, November 26th. Jefferies Financial Group raised their target price on shares of Mcdonald’s from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 24th. ValuEngine raised shares of Mcdonald’s from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Morgan Stanley raised shares of Mcdonald’s from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $173.00 to $210.00 in a report on Thursday, November 29th. Finally, Wells Fargo & Co reissued a “buy” rating and set a $185.00 target price on shares of Mcdonald’s in a report on Monday, September 24th. Seven research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $191.76.
In related news, EVP Francesca A. Debiase sold 15,136 shares of the business’s stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $176.17, for a total transaction of $2,666,509.12. Following the transaction, the executive vice president now directly owns 17,306 shares in the company, valued at $3,048,798.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ian Frederick Borden sold 4,782 shares of the business’s stock in a transaction dated 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 quarter, insiders sold 221,041 shares of company stock worth $38,839,407. Company insiders own 0.22% of the company’s stock.
Shares of NYSE MCD traded up $0.79 during trading on Friday, hitting $182.34. The company had a trading volume of 1,943,346 shares, compared to its average volume of 3,419,010. Mcdonald’s Corp has a fifty-two week low of $146.84 and a fifty-two week high of $190.88. The firm has a market cap of $138.99 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 2.48 and a beta of 0.59.
Mcdonald’s (NYSE:MCD) last announced its earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share (EPS) 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 business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the business earned $1.76 earnings per share. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. Equities analysts expect that Mcdonald’s Corp will post 7.76 EPS for the current fiscal year.
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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