Advisors Asset Management Inc. Trims Stake in McDonald's Co. (MCD)
Advisors Asset Management Inc. cut its holdings in McDonald's Co. (NYSE:MCD) by 13.6% during the third quarter, Holdings Channel reports. The institutional investor owned 119,515 shares of the fast-food giant’s stock after selling 18,873 shares during the period. Advisors Asset Management Inc.’s holdings in McDonald's were worth $18,726,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Canada Pension Plan Investment Board boosted its stake in shares of McDonald's by 1.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 449,237 shares of the fast-food giant’s stock worth $68,805,000 after purchasing an additional 4,300 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of McDonald's by 10.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 467,212 shares of the fast-food giant’s stock worth $71,558,000 after purchasing an additional 44,899 shares during the period. Tredje AP fonden boosted its stake in shares of McDonald's by 26.7% during the 2nd quarter. Tredje AP fonden now owns 120,490 shares of the fast-food giant’s stock worth $18,454,000 after purchasing an additional 25,380 shares during the period. Beaton Management Co. Inc. purchased a new position in shares of McDonald's during the 2nd quarter worth about $555,000. Finally, Buckingham Asset Management LLC boosted its stake in shares of McDonald's by 157.5% during the 2nd quarter. Buckingham Asset Management LLC now owns 18,973 shares of the fast-food giant’s stock worth $2,906,000 after purchasing an additional 11,604 shares during the period. Hedge funds and other institutional investors own 67.30% of the company’s stock.
A number of equities analysts recently commented on MCD shares. Canaccord Genuity reaffirmed a “hold” rating and set a $170.00 price target on shares of McDonald's in a research note on Friday, October 6th. Nomura set a $180.00 price target on shares of McDonald's and gave the stock a “buy” rating in a research note 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 for the company in a research note on Thursday. Stifel Nicolaus set a $172.00 price objective on shares of McDonald's and gave the company a “neutral” rating in a research report on Wednesday, January 3rd. Finally, Piper Jaffray Companies boosted their price objective on shares of McDonald's from $175.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, December 14th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $179.68.
McDonald's Co. (NYSE:MCD) opened at $176.12 on Monday. The company has a debt-to-equity ratio of -8.17, a quick ratio of 1.27 and a current ratio of 1.28. McDonald's Co. has a 52 week low of $119.82 and a 52 week high of $176.64. The stock has a market cap of $142,660.00, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 2.78 and a beta of 0.67.
McDonald's (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 24th. The fast-food giant reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.75 by $0.01. McDonald's had a net margin of 24.19% and a negative return on equity of 216.45%. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same quarter in the prior year, the business posted $1.62 EPS. McDonald's’s revenue for the quarter was down 10.4% compared to the same quarter last year. equities research analysts expect that McDonald's Co. will post 6.53 earnings per share for the current fiscal year.
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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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