Quantitative Systematic Strategies LLC reduced its holdings in McDonald’s (NYSE:MCD) by 89.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,473 shares of the fast-food giant’s stock after selling 11,957 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in McDonald’s were worth $230,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in MCD. Horan Capital Advisors LLC. purchased a new position in shares of McDonald’s in the 3rd quarter worth about $104,000. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of McDonald’s in the 4th quarter worth about $109,000. Tarbox Family Office Inc. boosted its holdings in shares of McDonald’s by 105.8% in the 4th quarter. Tarbox Family Office Inc. now owns 638 shares of the fast-food giant’s stock worth $110,000 after purchasing an additional 328 shares in the last quarter. Horan Capital Management purchased a new position in shares of McDonald’s in the 4th quarter worth about $110,000. Finally, Certified Advisory Corp purchased a new position in shares of McDonald’s in the 4th quarter worth about $121,000. Institutional investors and hedge funds own 67.53% of the company’s stock.
In other news, EVP Kevin M. Ozan sold 18,636 shares of the stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $165.69, for a total value of $3,087,798.84. Following the completion of the transaction, the executive vice president now owns 29,800 shares of the company’s stock, valued at approximately $4,937,562. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas M. Goare sold 13,255 shares of the stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $165.40, for a total value of $2,192,377.00. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate insiders.
A number of research firms have recently issued reports on MCD. JPMorgan Chase & Co. set a $184.00 price objective on McDonald’s and gave the stock a “buy” rating in a report on Wednesday, January 31st. Credit Suisse Group set a $191.00 price objective on McDonald’s and gave the stock a “buy” rating in a report on Tuesday, January 30th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $195.00 price objective (up from $180.00) on shares of McDonald’s in a report on Wednesday, January 31st. BMO Capital Markets reiterated a “buy” rating and issued a $190.00 price objective on shares of McDonald’s in a report on Monday, March 12th. Finally, Morgan Stanley cut their price objective on McDonald’s from $184.00 to $169.00 and set a “neutral” rating for the company in a report on Monday, March 26th. Nine analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. McDonald’s has a consensus rating of “Buy” and an average target price of $184.03.
McDonald’s opened at $162.39 on Friday, according to Marketbeat. The company has a market cap of $126.90 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 2.38 and a beta of 0.63. The company has a debt-to-equity ratio of -6.54, a current ratio of 1.74 and a quick ratio of 1.72. McDonald’s has a one year low of $146.84 and a one year high of $178.70.
McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, April 30th. The fast-food giant reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.12. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $4.97 billion. McDonald’s had a negative return on equity of 167.80% and a net margin of 24.02%. McDonald’s’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.47 EPS. equities research analysts forecast that McDonald’s will post 7.66 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 18th. Shareholders of record on Monday, June 4th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.49%. McDonald’s’s payout ratio is 60.66%.
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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