NewFocus Financial Group LLC lifted its position in shares of Mcdonald’s Corp (NYSE:MCD) by 1.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 22,106 shares of the fast-food giant’s stock after buying an additional 414 shares during the quarter. Mcdonald’s accounts for approximately 2.0% of NewFocus Financial Group LLC’s holdings, making the stock its 18th largest position. NewFocus Financial Group LLC’s holdings in Mcdonald’s were worth $3,698,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of MCD. Rainier Group Investment Advisory LLC purchased a new stake in Mcdonald’s in the first quarter valued at approximately $102,000. CSat Investment Advisory L.P. purchased a new stake in Mcdonald’s in the second quarter valued at approximately $104,000. CX Institutional purchased a new stake in Mcdonald’s in the second quarter valued at approximately $109,000. NuWave Investment Management LLC grew its holdings in 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 purchasing an additional 671 shares during the period. Finally, Quad Cities Investment Group LLC purchased a new stake in Mcdonald’s in the second quarter valued at approximately $110,000. Institutional investors and hedge funds own 66.92% of the company’s stock.
In other news, EVP Francesca A. Debiase sold 15,136 shares of the business’s stock in a transaction on Wednesday, October 24th. The shares were 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 directly owns 17,306 shares of the company’s stock, valued at $3,048,798.02. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen Easterbrook sold 201,123 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 48,925 shares in the company, valued at $8,592,697.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 221,041 shares of company stock valued at $38,839,407. 0.22% of the stock is owned by insiders.
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, topping the consensus estimate of $1.99 by $0.11. Mcdonald’s had a net margin of 24.56% and a negative return on equity of 130.19%. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the previous year, the firm earned $1.76 earnings per share. Mcdonald’s’s revenue for the quarter was down 6.7% on a year-over-year basis. As a group, sell-side analysts predict that Mcdonald’s Corp will post 7.75 EPS for the current year.
The firm 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. This is an increase from Mcdonald’s’s previous quarterly dividend of $1.01. This represents a $4.64 annualized dividend and a yield of 2.68%. The ex-dividend date is Friday, November 30th. Mcdonald’s’s payout ratio is currently 60.66%.
A number of equities research analysts recently issued reports on MCD shares. Royal Bank of Canada restated a “buy” rating and issued a $175.00 target price on shares of Mcdonald’s in a report on Monday, July 9th. Wells Fargo & Co lowered their target price on shares of Mcdonald’s from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, July 11th. Cleveland Research downgraded shares of Mcdonald’s from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Jefferies Financial Group restated a “buy” rating and issued a $200.00 target price on shares of Mcdonald’s in a report on Wednesday, July 11th. Finally, Stifel Nicolaus restated a “neutral” rating and issued a $168.00 target price on shares of Mcdonald’s in a report on Monday, July 16th. Seven equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $188.31.
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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