Nicholas Hoffman & Company LLC. cut its stake in Mcdonald’s Corp (NYSE:MCD) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,072 shares of the fast-food giant’s stock after selling 551 shares during the period. Mcdonald’s accounts for 0.8% of Nicholas Hoffman & Company LLC.’s investment portfolio, making the stock its 25th largest holding. Nicholas Hoffman & Company LLC.’s holdings in Mcdonald’s were worth $2,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in the stock. Covenant Multifamily Offices LLC acquired a new position in Mcdonald’s in the fourth quarter valued at approximately $27,000. Litman Gregory Asset Management LLC raised its position in Mcdonald’s by 102.7% in the 4th quarter. Litman Gregory Asset Management LLC now owns 148 shares of the fast-food giant’s stock valued at $29,000 after buying an additional 75 shares during the last quarter. PrairieView Partners LLC bought a new position in Mcdonald’s in the 1st quarter valued at $33,000. Knuff & Co LLC bought a new position in Mcdonald’s in the 4th quarter valued at $40,000. Finally, CBIZ Investment Advisory Services LLC bought a new position in shares of Mcdonald’s during the 4th quarter worth $40,000. Institutional investors and hedge funds own 66.13% of the company’s stock.
Several research analysts have recently weighed in on MCD shares. BMO Capital Markets reiterated a “buy” rating on shares of Mcdonald’s in a research note on Wednesday, April 8th. Tigress Financial upgraded Mcdonald’s from a “neutral” rating to a “buy” rating in a research note on Thursday, March 12th. SunTrust Banks increased their price target on Mcdonald’s from $189.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Wells Fargo & Co cut their price target on Mcdonald’s from $213.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Finally, Robert W. Baird reiterated an “outperform” rating and set a $230.00 price target (up previously from $218.00) on shares of Mcdonald’s in a research note on Thursday, January 30th. Eight research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $207.48.
Mcdonald’s (NYSE:MCD) last issued its quarterly earnings data on Thursday, April 30th. The fast-food giant reported $1.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.59 by ($0.12). Mcdonald’s had a negative return on equity of 70.25% and a net margin of 27.86%. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the business posted $1.78 earnings per share. Mcdonald’s’s quarterly revenue was down 6.2% compared to the same quarter last year. Analysts predict that Mcdonald’s Corp will post 5.5 earnings per share for the current year.
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, 2018, the company operated 37,855 restaurants, including 35,085 franchised restaurants comprising 21,685 franchised to conventional franchisees, 7,225 licensed to developmental licensees, and 6,175 licensed to foreign affiliates; and 2,770 company-operated restaurants.
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