FineMark National Bank & Trust lessened its holdings in Mcdonald’s Corp (NYSE:MCD) by 19.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 36,963 shares of the fast-food giant’s stock after selling 9,075 shares during the period. FineMark National Bank & Trust’s holdings in Mcdonald’s were worth $6,184,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of MCD. Fundsmith Equity Fund L.P. bought a new position in shares of Mcdonald’s in the 2nd quarter worth approximately $1,191,239,000. AustralianSuper Pty Ltd bought a new position in shares of Mcdonald’s in the 2nd quarter worth approximately $179,723,000. FMR LLC lifted its stake in shares of Mcdonald’s by 5.5% in the 2nd quarter. FMR LLC now owns 19,483,955 shares of the fast-food giant’s stock worth $3,052,941,000 after purchasing an additional 1,014,792 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Mcdonald’s by 30.3% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,808,550 shares of the fast-food giant’s stock worth $440,072,000 after purchasing an additional 652,752 shares during the period. Finally, Morgan Stanley lifted its stake in shares of Mcdonald’s by 9.6% in the 2nd quarter. Morgan Stanley now owns 5,947,311 shares of the fast-food giant’s stock worth $931,884,000 after purchasing an additional 522,333 shares during the period. Hedge funds and other institutional investors own 66.92% of the company’s stock.
Mcdonald’s stock opened at $185.94 on Friday. The company has a market capitalization of $142.99 billion, a P/E ratio of 24.44, a PEG ratio of 2.73 and a beta of 0.53. Mcdonald’s Corp has a 12-month low of $146.84 and a 12-month high of $186.58.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be issued a dividend of $1.16 per share. This is a positive change from Mcdonald’s’s previous quarterly dividend of $1.01. This represents a $4.64 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Friday, November 30th. Mcdonald’s’s dividend payout ratio (DPR) is 60.66%.
In other Mcdonald’s news, insider Ian Frederick Borden sold 4,782 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen Easterbrook sold 201,123 shares of the 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 sale, the chief executive officer now directly owns 48,925 shares of the company’s stock, valued at $8,592,697.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 221,041 shares of company stock valued at $38,839,407. Insiders own 0.22% of the company’s stock.
MCD has been the topic of several recent research reports. Stifel Nicolaus reiterated a “neutral” rating and issued a $168.00 price objective on shares of Mcdonald’s in a research note on Monday, July 16th. Goldman Sachs Group reiterated a “buy” rating and issued a $178.00 price objective on shares of Mcdonald’s in a research note on Tuesday, July 24th. Royal Bank of Canada set a $175.00 price objective on shares of Mcdonald’s and gave the stock a “buy” rating in a research note on Thursday, July 26th. Stephens lowered their price objective on shares of Mcdonald’s from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 26th. Finally, Telsey Advisory Group lowered their price objective on shares of Mcdonald’s from $190.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, July 27th. Seven research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $189.44.
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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.
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