LSV Asset Management boosted its stake in shares of Mcdonald’s Corp (NYSE:MCD) by 417.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,002 shares of the fast-food giant’s stock after acquiring an additional 12,102 shares during the quarter. LSV Asset Management’s holdings in Mcdonald’s were worth $2,509,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. CSat Investment Advisory L.P. purchased a new stake in shares of Mcdonald’s in the second quarter valued at approximately $104,000. Quad Cities Investment Group LLC purchased a new stake in shares of Mcdonald’s in the second quarter valued at approximately $110,000. NuWave Investment Management LLC increased its position in shares of Mcdonald’s by 2,485.2% in the third quarter. NuWave Investment Management LLC now owns 698 shares of the fast-food giant’s stock valued at $117,000 after buying an additional 671 shares in the last quarter. Horan Capital Management purchased a new stake in shares of Mcdonald’s in the second quarter valued at approximately $121,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Mcdonald’s in the third quarter valued at approximately $122,000. Institutional investors own 66.25% of the company’s stock.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Mcdonald’s from a “hold” rating to a “buy” rating and set a $199.00 price objective for the company in a research report on Friday, October 26th. Royal Bank of Canada set a $190.00 price objective on Mcdonald’s and gave the company a “buy” rating in a research report on Tuesday, November 20th. Jefferies Financial Group set a $200.00 price objective on Mcdonald’s and gave the company a “buy” rating in a research report on Tuesday, November 20th. Barclays set a $198.00 price objective on Mcdonald’s and gave the company a “buy” rating in a research report on Monday, November 19th. Finally, Wells Fargo & Co boosted their price objective on Mcdonald’s from $180.00 to $185.00 and gave the company an “outperform” rating in a research report on Wednesday, August 8th. Eight investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Mcdonald’s presently has a consensus rating of “Buy” and an average target price of $189.79.
Mcdonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.11. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.28 billion. Mcdonald’s had a negative return on equity of 116.43% and a net margin of 24.56%. The business’s revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.76 earnings per share. Research analysts predict that Mcdonald’s Corp will post 7.76 EPS for the current fiscal year.
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 paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $4.64 dividend on an annualized basis and a yield of 2.55%. This is a positive change from Mcdonald’s’s previous quarterly dividend of $1.01. Mcdonald’s’s payout ratio is 60.66%.
In other Mcdonald’s news, EVP Francesca A. Debiase sold 15,136 shares of the business’s stock in a transaction on Wednesday, October 24th. The stock was sold at an average price of $176.17, for a total transaction of $2,666,509.12. Following the transaction, the executive vice president now owns 17,306 shares of the company’s stock, valued at $3,048,798.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ian Frederick Borden sold 4,782 shares of the business’s stock in a transaction on Thursday, October 25th. The stock was sold at an average price of $177.68, for a total value of $849,665.76. The disclosure for this sale can be found here. Insiders have sold 221,041 shares of company stock worth $38,839,407 in the last three months. 0.22% of the stock is currently owned by corporate insiders.
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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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