Magnetar Financial LLC Trims Position in McDonald's Co. (MCD)
Magnetar Financial LLC cut its stake in McDonald's Co. (NYSE:MCD) by 30.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,994 shares of the fast-food giant’s stock after selling 5,732 shares during the period. Magnetar Financial LLC’s holdings in McDonald's were worth $2,036,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its stake in McDonald's by 1.0% in the second quarter. Canada Pension Plan Investment Board now owns 449,237 shares of the fast-food giant’s stock valued at $68,805,000 after purchasing an additional 4,300 shares during the period. Teacher Retirement System of Texas increased its stake in McDonald's by 10.6% in the second quarter. Teacher Retirement System of Texas now owns 467,212 shares of the fast-food giant’s stock valued at $71,558,000 after purchasing an additional 44,899 shares during the period. Tredje AP fonden increased its stake in McDonald's by 26.7% in the second quarter. Tredje AP fonden now owns 120,490 shares of the fast-food giant’s stock valued at $18,454,000 after purchasing an additional 25,380 shares during the period. Beaton Management Co. Inc. acquired a new position in McDonald's in the second quarter valued at $555,000. Finally, Buckingham Asset Management LLC increased its stake in McDonald's by 157.5% in the second quarter. Buckingham Asset Management LLC now owns 18,973 shares of the fast-food giant’s stock valued at $2,906,000 after purchasing an additional 11,604 shares during the period. 67.53% of the stock is owned by hedge funds and other institutional investors.
In other McDonald's news, 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 value of $5,999,799.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the vice president now directly owns 1,398 shares in the company, valued at approximately $238,414.92. The disclosure for this sale can be found here. Insiders sold 207,550 shares of company stock worth $35,118,055 in the last ninety days. Insiders own 0.24% of the company’s stock.
Shares of McDonald's Co. (NYSE MCD) opened at $160.80 on Friday. McDonald's Co. has a fifty-two week low of $124.52 and a fifty-two week high of $178.70. The stock has a market cap of $128,187.51, a PE ratio of 24.11, a price-to-earnings-growth ratio of 2.36 and a beta of 0.59. The company has a debt-to-equity ratio of -8.17, a current ratio of 1.28 and a quick ratio of 1.27.
McDonald's (NYSE:MCD) last announced its quarterly earnings results on Tuesday, January 30th. The fast-food giant reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.12. McDonald's had a net margin of 22.75% and a negative return on equity of 217.17%. The company had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the firm earned $1.44 earnings per share. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. equities research analysts expect that McDonald's Co. will post 7.58 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Wednesday, February 28th. McDonald's’s dividend payout ratio (DPR) is presently 63.52%.
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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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