Norinchukin Bank The lowered its stake in shares of Mcdonald’s Corp (NYSE:MCD) by 8.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 274,243 shares of the fast-food giant’s stock after selling 24,770 shares during the period. Mcdonald’s comprises about 0.6% of Norinchukin Bank The’s portfolio, making the stock its 26th largest holding. Norinchukin Bank The’s holdings in Mcdonald’s were worth $45,878,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new position in shares of Mcdonald’s in the second quarter valued at $218,000. Cornerstone Wealth Management LLC boosted its position in Mcdonald’s by 16,737.6% during the second quarter. Cornerstone Wealth Management LLC now owns 353,084 shares of the fast-food giant’s stock worth $2,251,000 after purchasing an additional 350,987 shares during the period. Cape ANN Savings Bank bought a new position in Mcdonald’s during the second quarter worth $2,064,000. Janney Montgomery Scott LLC boosted its position in Mcdonald’s by 9.3% during the second quarter. Janney Montgomery Scott LLC now owns 158,369 shares of the fast-food giant’s stock worth $24,815,000 after purchasing an additional 13,467 shares during the period. Finally, Wetherby Asset Management Inc. boosted its position in Mcdonald’s by 3.2% during the second quarter. Wetherby Asset Management Inc. now owns 20,358 shares of the fast-food giant’s stock worth $3,190,000 after purchasing an additional 630 shares during the period. Institutional investors and hedge funds own 66.25% of the company’s stock.
Shares of NYSE MCD opened at $182.72 on Friday. The stock has a market cap of $140.86 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 2.68 and a beta of 0.53. Mcdonald’s Corp has a 12 month low of $146.84 and a 12 month high of $188.90.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be paid a dividend of $1.16 per share. This is an increase from Mcdonald’s’s previous quarterly dividend of $1.01. The ex-dividend date is Friday, November 30th. This represents a $4.64 annualized dividend and a yield of 2.54%. Mcdonald’s’s payout ratio is presently 60.66%.
MCD has been the subject of a number of research analyst reports. 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 report on Thursday, July 26th. Stephens reduced their price objective on shares of Mcdonald’s from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Thursday, July 26th. Telsey Advisory Group dropped their target price on Mcdonald’s from $190.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, July 27th. Imperial Capital dropped their target price on Mcdonald’s from $190.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, July 27th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $190.00 target price on shares of Mcdonald’s in a report on Friday, July 27th. Eight equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $189.79.
In other Mcdonald’s news, CEO Stephen Easterbrook sold 201,123 shares of the business’s stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $175.63, for a total transaction of $35,323,232.49. Following the completion of the transaction, the chief executive officer now owns 48,925 shares of the company’s stock, valued at $8,592,697.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Francesca A. Debiase sold 15,136 shares of the business’s stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $176.17, for a total value of $2,666,509.12. Following the transaction, the executive vice president now directly owns 17,306 shares of the company’s stock, valued at approximately $3,048,798.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 221,041 shares of company stock valued at $38,839,407. Insiders own 0.22% of the company’s stock.
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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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