Taylor Wealth Management Partners Has $5.76 Million Stake in Mcdonald’s Corp (MCD)
Taylor Wealth Management Partners reduced its holdings in shares of Mcdonald’s Corp (NYSE:MCD) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,417 shares of the fast-food giant’s stock after selling 825 shares during the quarter. Mcdonald’s accounts for about 3.3% of Taylor Wealth Management Partners’ holdings, making the stock its 13th biggest position. Taylor Wealth Management Partners’ holdings in Mcdonald’s were worth $5,756,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of MCD. Fundsmith Equity Fund L.P. purchased a new position in Mcdonald’s during the second quarter worth about $1,191,239,000. Psagot Investment House Ltd. boosted its holdings in Mcdonald’s by 83.7% during the third quarter. Psagot Investment House Ltd. now owns 8,560 shares of the fast-food giant’s stock worth $1,432,000 after purchasing an additional 3,900 shares during the last quarter. California Capital Advisors Inc. boosted its holdings in Mcdonald’s by 37.7% during the third quarter. California Capital Advisors Inc. now owns 23,470 shares of the fast-food giant’s stock worth $3,926,000 after purchasing an additional 6,424 shares during the last quarter. Scopus Asset Management L.P. boosted its holdings in Mcdonald’s by 20.0% during the second quarter. Scopus Asset Management L.P. now owns 300,000 shares of the fast-food giant’s stock worth $47,007,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd purchased a new position in Mcdonald’s during the third quarter worth about $16,552,000. Hedge funds and other institutional investors own 67.16% of the company’s stock.
In other news, EVP Francesca A. Debiase sold 15,136 shares of the business’s stock in a transaction that occurred on Wednesday, October 24th. The shares were sold at an average price of $176.17, for a total value of $2,666,509.12. Following the sale, the executive vice president now owns 17,306 shares of the company’s stock, valued at $3,048,798.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Stephen Easterbrook sold 201,123 shares of the business’s stock in a transaction that occurred on Wednesday, October 24th. The shares were sold at an average price of $175.63, for a total transaction of $35,323,232.49. Following the completion of the sale, the chief executive officer now directly owns 48,925 shares in the company, valued at approximately $8,592,697.75. The disclosure for this sale can be found here. In the last three months, insiders sold 221,041 shares of company stock worth $38,839,407. Insiders own 0.22% of the company’s stock.
Mcdonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share (EPS) for the quarter, beating 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 116.43%. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the firm posted $1.76 earnings per share. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. On average, sell-side analysts expect that Mcdonald’s Corp will post 7.76 EPS for the current year.
Several research analysts recently weighed in on MCD shares. Zacks Investment Research upgraded shares of Mcdonald’s from a “hold” rating to a “buy” rating and set a $209.00 price target on the stock in a report on Monday, December 17th. Morningstar set a $190.00 price target on shares of Mcdonald’s and gave the stock a “neutral” rating in a report on Wednesday, October 24th. Royal Bank of Canada restated a “buy” rating and set a $175.00 price target on shares of Mcdonald’s in a report on Thursday, September 27th. Stephens boosted their price target on shares of Mcdonald’s to $170.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 24th. Finally, ValuEngine upgraded shares of Mcdonald’s from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Seven investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Mcdonald’s currently has an average rating of “Buy” and an average target price of $191.76.
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.
Further Reading: Quiet Period
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