Metropolitan Life Insurance Co. NY Cuts Stake in Mcdonald’s Corp (MCD)

Metropolitan Life Insurance Co. NY trimmed its position in Mcdonald’s Corp (NYSE:MCD) by 21.5% during the second quarter, HoldingsChannel.com reports. The firm owned 124,536 shares of the fast-food giant’s stock after selling 34,135 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Mcdonald’s were worth $19,514,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Rainier Group Investment Advisory LLC acquired a new stake in Mcdonald’s during the 1st quarter valued at approximately $102,000. Elmwood Wealth Management Inc. acquired a new stake in Mcdonald’s during the 1st quarter valued at approximately $104,000. CSat Investment Advisory L.P. acquired a new stake in Mcdonald’s during the 2nd quarter valued at approximately $104,000. CX Institutional acquired a new stake in Mcdonald’s during the 2nd quarter valued at approximately $109,000. Finally, Quad Cities Investment Group LLC acquired a new stake in Mcdonald’s during the 2nd quarter valued at approximately $110,000. Institutional investors own 66.99% of the company’s stock.

NYSE:MCD opened at $160.84 on Friday. The company has a debt-to-equity ratio of -5.24, a quick ratio of 1.45 and a current ratio of 1.47. Mcdonald’s Corp has a 52 week low of $146.84 and a 52 week high of $178.70. The company has a market cap of $127.81 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.45 and a beta of 0.66.

Mcdonald’s (NYSE:MCD) last released its earnings results on Thursday, July 26th. The fast-food giant reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.07. Mcdonald’s had a negative return on equity of 133.89% and a net margin of 25.26%. The company had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the business posted $1.73 EPS. Mcdonald’s’s quarterly revenue was down 11.5% compared to the same quarter last year. research analysts forecast that Mcdonald’s Corp will post 7.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Shareholders of record on Tuesday, September 4th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Friday, August 31st. Mcdonald’s’s dividend payout ratio is presently 60.66%.

A number of brokerages have weighed in on MCD. Cleveland Research lowered Mcdonald’s from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. Jefferies Financial Group restated a “buy” rating and set a $200.00 price objective on shares of Mcdonald’s in a research note on Wednesday, July 11th. Royal Bank of Canada set a $175.00 price objective on Mcdonald’s and gave the company a “buy” rating in a research note on Thursday, July 26th. Telsey Advisory Group lowered their price objective on Mcdonald’s from $190.00 to $175.00 and set an “outperform” rating for the company in a research note on Friday, July 27th. Finally, Stifel Nicolaus restated a “neutral” rating and set a $168.00 price objective on shares of Mcdonald’s in a research note on Monday, August 20th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $182.29.

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, 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.

Further Reading: Average Daily Trade Volume Explained

Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mcdonald’s Corp (NYSE:MCD).

Institutional Ownership by Quarter for Mcdonald`s (NYSE:MCD)

Receive News & Ratings for Mcdonald's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mcdonald's and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply