Forsta AP Fonden lowered its stake in shares of Mcdonald’s Corp (NYSE:MCD) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,735 shares of the fast-food giant’s stock after selling 1,500 shares during the quarter. Forsta AP Fonden’s holdings in Mcdonald’s were worth $5,644,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Fundsmith Equity Fund L.P. purchased a new position in Mcdonald’s in the 2nd quarter worth $1,191,239,000. Psagot Investment House Ltd. raised its position in Mcdonald’s by 83.7% in the 3rd quarter. Psagot Investment House Ltd. now owns 8,560 shares of the fast-food giant’s stock worth $1,432,000 after purchasing an additional 3,900 shares during the period. AustralianSuper Pty Ltd purchased a new position in Mcdonald’s in the 2nd quarter worth $179,723,000. California Capital Advisors Inc. raised its position in Mcdonald’s by 37.7% in the 3rd quarter. California Capital Advisors Inc. now owns 23,470 shares of the fast-food giant’s stock worth $3,926,000 after purchasing an additional 6,424 shares during the period. Finally, Scopus Asset Management L.P. raised its position in Mcdonald’s by 20.0% in the 2nd quarter. Scopus Asset Management L.P. now owns 300,000 shares of the fast-food giant’s stock worth $47,007,000 after purchasing an additional 50,000 shares during the period. Hedge funds and other institutional investors own 67.08% of the company’s stock.
A number of brokerages recently commented on MCD. Goldman Sachs Group reiterated a “buy” rating and issued a $200.00 target price on shares of Mcdonald’s in a research report on Thursday. Zacks Investment Research cut shares of Mcdonald’s from a “buy” rating to a “hold” rating in a research report on Wednesday. Cowen lifted their target price on shares of Mcdonald’s from $190.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, November 9th. Citigroup lifted their target price on shares of Mcdonald’s from $171.00 to $189.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 30th. Finally, Morgan Stanley reiterated a “neutral” rating and issued a $173.00 target price on shares of Mcdonald’s in a research report on Wednesday, October 24th. Eight investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $189.62.
Mcdonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.11. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.28 billion. Mcdonald’s had a net margin of 24.56% and a negative return on equity of 116.43%. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.76 earnings per share. As a group, equities research analysts expect that Mcdonald’s Corp will post 7.76 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a dividend of $1.16 per share. This is a positive change from Mcdonald’s’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Friday, November 30th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.47%. Mcdonald’s’s payout ratio is presently 60.66%.
In other news, CEO Stephen Easterbrook sold 201,123 shares of Mcdonald’s stock in a transaction dated 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 owns 48,925 shares of the company’s stock, valued at approximately $8,592,697.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ian Frederick Borden sold 4,782 shares of Mcdonald’s stock in a transaction dated 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 a total of 221,041 shares of company stock worth $38,839,407 in the last ninety days. Insiders own 0.22% of the company’s stock.
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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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