First Citizens Bank & Trust Co. lessened its holdings in McDonald's Co. (NYSE:MCD) by 7.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,685 shares of the fast-food giant’s stock after selling 1,530 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in McDonald's were worth $4,321,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in MCD. Public Employees Retirement Association of Colorado increased its position in McDonald's by 4.4% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 141,845 shares of the fast-food giant’s stock valued at $23,454,000 after purchasing an additional 5,915 shares during the period. Loomis Sayles & Co. L P increased its position in McDonald's by 2.2% during the 1st quarter. Loomis Sayles & Co. L P now owns 11,552 shares of the fast-food giant’s stock valued at $1,910,000 after purchasing an additional 250 shares during the period. Cohen & Steers Inc. acquired a new stake in McDonald's during the 1st quarter valued at approximately $162,000. Quantitative Investment Management LLC acquired a new stake in McDonald's during the 1st quarter valued at approximately $750,000. Finally, APG Asset Management N.V. increased its position in McDonald's by 32.4% during the 1st quarter. APG Asset Management N.V. now owns 3,041,874 shares of the fast-food giant’s stock valued at $502,974,000 after purchasing an additional 743,607 shares during the period. 66.07% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on MCD shares. BTIG Research increased their target price on shares of McDonald's from $220.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, October 9th. TheStreet downgraded shares of McDonald's from a “b-” rating to a “c” rating in a research report on Friday, August 28th. UBS Group raised their price objective on shares of McDonald's from $215.00 to $230.00 and gave the stock a “neutral” rating in a research report on Monday, September 14th. Piper Sandler raised their price objective on shares of McDonald's from $197.00 to $203.00 and gave the stock a “neutral” rating in a research report on Monday, September 14th. Finally, KeyCorp raised their price objective on shares of McDonald's from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 18th. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $222.43.
Shares of NYSE:MCD opened at $229.37 on Friday. The stock has a market cap of $170.67 billion, a PE ratio of 36.35, a price-to-earnings-growth ratio of 5.25 and a beta of 0.67. McDonald's Co. has a 1-year low of $124.23 and a 1-year high of $231.91. The stock’s fifty day simple moving average is $219.28 and its two-hundred day simple moving average is $196.08.
McDonald's (NYSE:MCD) last released its earnings results on Tuesday, July 28th. The fast-food giant reported $0.66 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.10). The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.73 billion. McDonald's had a negative return on equity of 52.78% and a net margin of 24.78%. The company’s revenue for the quarter was down 29.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 earnings per share. Equities research analysts forecast that McDonald's Co. will post 5.96 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 2.25%. This is a boost from McDonald's’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, November 30th. McDonald's’s payout ratio is presently 63.78%.
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 and beverages, as well as breakfast menu. As of December 31, 2019, the company operated 38,695 restaurants. McDonald's Corporation was founded in 1940 and is based in Chicago, Illinois.
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