Mcdonald’s Corp (MCD) Holdings Lifted by Associated Banc Corp
Associated Banc Corp grew its position in Mcdonald’s Corp (NYSE:MCD) by 5.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,258 shares of the fast-food giant’s stock after purchasing an additional 4,379 shares during the period. Associated Banc Corp’s holdings in Mcdonald’s were worth $13,426,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Mcdonald’s by 5.5% in the second quarter. FMR LLC now owns 19,483,955 shares of the fast-food giant’s stock valued at $3,052,941,000 after purchasing an additional 1,014,792 shares in the last quarter. Fundsmith Equity Fund L.P. bought a new stake in shares of Mcdonald’s in the second quarter valued at about $1,191,239,000. Janus Henderson Group PLC lifted its holdings in shares of Mcdonald’s by 5.4% in the second quarter. Janus Henderson Group PLC now owns 8,107,972 shares of the fast-food giant’s stock valued at $1,270,446,000 after purchasing an additional 412,750 shares in the last quarter. Magellan Asset Management Ltd lifted its holdings in shares of Mcdonald’s by 0.4% in the second quarter. Magellan Asset Management Ltd now owns 5,955,794 shares of the fast-food giant’s stock valued at $933,213,000 after purchasing an additional 20,873 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Mcdonald’s by 9.6% in the second quarter. Morgan Stanley now owns 5,947,311 shares of the fast-food giant’s stock valued at $931,884,000 after purchasing an additional 522,333 shares in the last quarter. Institutional investors own 66.25% of the company’s stock.
A number of brokerages have recently commented on MCD. Goldman Sachs Group boosted their price target on Mcdonald’s from $179.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, September 11th. Royal Bank of Canada set a $190.00 price target on Mcdonald’s and gave the company a “buy” rating in a report on Wednesday, October 24th. Gordon Haskett began coverage on Mcdonald’s in a report on Thursday, October 18th. They issued a “buy” rating and a $185.00 price target on the stock. SunTrust Banks boosted their price target on Mcdonald’s to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 24th. Finally, Imperial Capital cut their price target on Mcdonald’s from $190.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, July 27th. Eight research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $189.62.
Mcdonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.11. The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.28 billion. Mcdonald’s had a negative return on equity of 116.43% and a net margin of 24.56%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.76 earnings per share. Equities analysts forecast that Mcdonald’s Corp will post 7.76 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Friday, November 30th. This is an increase from Mcdonald’s’s previous quarterly dividend of $1.01. Mcdonald’s’s payout ratio is 60.66%.
In other Mcdonald’s news, EVP Francesca A. Debiase sold 15,136 shares of the business’s stock in a transaction that occurred on Wednesday, October 24th. The stock was 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 owns 17,306 shares of the company’s stock, valued at $3,048,798.02. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ian Frederick Borden sold 4,782 shares of the business’s stock in a transaction that occurred on Thursday, October 25th. The stock was sold at an average price of $177.68, for a total value of $849,665.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 221,041 shares of company stock worth $38,839,407. Company insiders own 0.22% of the company’s stock.
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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