Liberty Mutual Group Asset Management Inc. Lowers Holdings in Mcdonald’s Corp (MCD)
Liberty Mutual Group Asset Management Inc. lowered its holdings in shares of Mcdonald’s Corp (NYSE:MCD) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,385 shares of the fast-food giant’s stock after selling 898 shares during the quarter. Liberty Mutual Group Asset Management Inc.’s holdings in Mcdonald’s were worth $4,918,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in MCD. Rainier Group Investment Advisory LLC purchased a new position in Mcdonald’s in the 1st quarter worth about $102,000. Elmwood Wealth Management Inc. purchased a new position in Mcdonald’s in the 1st quarter worth about $104,000. CX Institutional purchased a new position in Mcdonald’s in the 2nd quarter worth about $109,000. Quad Cities Investment Group LLC purchased a new position in Mcdonald’s in the 2nd quarter worth about $110,000. Finally, Country Trust Bank increased its stake in Mcdonald’s by 518.9% in the 1st quarter. Country Trust Bank now owns 755 shares of the fast-food giant’s stock worth $118,000 after buying an additional 633 shares during the period. Institutional investors and hedge funds own 68.56% of the company’s stock.
A number of research firms have commented on MCD. Imperial Capital cut their target price on shares of Mcdonald’s from $190.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, July 27th. Royal Bank of Canada reissued a “buy” rating and set a $175.00 target price on shares of Mcdonald’s in a research report on Thursday, August 16th. Wells Fargo & Co raised their target price on shares of Mcdonald’s from $180.00 to $185.00 and gave the company an “outperform” rating in a research report on Wednesday, August 8th. Nomura raised shares of Mcdonald’s from a “neutral” rating to a “buy” rating and set a $191.00 target price on the stock in a research report on Thursday, June 7th. Finally, Citigroup raised their target price on shares of Mcdonald’s from $176.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, June 14th. Nine analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $181.57.
Mcdonald’s (NYSE:MCD) last released its quarterly earnings results on Thursday, July 26th. The fast-food giant reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.07. Mcdonald’s had a net margin of 25.26% and a negative return on equity of 133.89%. The business had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the business earned $1.73 EPS. The company’s revenue was down 11.5% compared to the same quarter last year. equities research analysts forecast that Mcdonald’s Corp will post 7.65 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, August 31st. Mcdonald’s’s dividend payout ratio is currently 60.66%.
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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