McDonald's Co. (MCD) Stake Boosted by Cambria Investment Management L.P.
Cambria Investment Management L.P. increased its stake in shares of McDonald's Co. (NYSE:MCD) by 4.7% during the third quarter, HoldingsChannel.com reports. The fund owned 37,403 shares of the fast-food giant’s stock after acquiring an additional 1,684 shares during the quarter. Cambria Investment Management L.P.’s holdings in McDonald's were worth $5,860,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board increased its position in McDonald's by 1.0% during the second quarter. Canada Pension Plan Investment Board now owns 449,237 shares of the fast-food giant’s stock worth $68,805,000 after acquiring an additional 4,300 shares during the period. Teacher Retirement System of Texas increased its position in McDonald's by 10.6% during the second quarter. Teacher Retirement System of Texas now owns 467,212 shares of the fast-food giant’s stock worth $71,558,000 after acquiring an additional 44,899 shares during the period. Tredje AP fonden increased its position in McDonald's by 26.7% during the second quarter. Tredje AP fonden now owns 120,490 shares of the fast-food giant’s stock worth $18,454,000 after acquiring an additional 25,380 shares during the period. Beaton Management Co. Inc. bought a new position in McDonald's during the second quarter worth $555,000. Finally, Buckingham Asset Management LLC increased its position in McDonald's by 157.5% during the second quarter. Buckingham Asset Management LLC now owns 18,973 shares of the fast-food giant’s stock worth $2,906,000 after acquiring an additional 11,604 shares during the period. 67.43% of the stock is currently owned by institutional investors and hedge funds.
McDonald's Co. (NYSE MCD) opened at $162.40 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.27 and a debt-to-equity ratio of -8.17. McDonald's Co. has a 52-week low of $125.27 and a 52-week high of $178.70. The stock has a market cap of $129,460.00, a PE ratio of 25.53, a price-to-earnings-growth ratio of 2.36 and a beta of 0.59.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $4.04 dividend on an annualized basis and a yield of 2.49%. McDonald's’s payout ratio is presently 63.52%.
In other McDonald's news, VP Catherine A. Hoovel sold 1,398 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $170.54, for a total transaction of $238,414.92. Following the transaction, the vice president now directly owns 1,398 shares in the company, valued at approximately $238,414.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Douglas M. Goare sold 34,575 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $173.53, for a total transaction of $5,999,799.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 207,550 shares of company stock worth $35,118,055. Corporate insiders own 0.24% of the company’s stock.
MCD has been the topic of a number of research reports. Nomura set a $180.00 target price on shares of McDonald's and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Zacks Investment Research raised shares of McDonald's from a “hold” rating to a “buy” rating and set a $196.00 price target on the stock in a report on Thursday, January 18th. Stifel Nicolaus set a $172.00 price target on shares of McDonald's and gave the company a “neutral” rating in a report on Wednesday, January 3rd. Piper Jaffray Companies boosted their price target on shares of McDonald's from $175.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, December 14th. Finally, Goldman Sachs Group set a $200.00 price target on shares of McDonald's and gave the company a “buy” rating in a report on Friday, January 19th. Nine analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $184.95.
McDonald's Company Profile
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.
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