Smith Chas P & Associates PA Cpas raised its holdings in shares of Mcdonald’s Corp (NYSE:MCD) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,425 shares of the fast-food giant’s stock after buying an additional 2,026 shares during the quarter. Mcdonald’s comprises 2.0% of Smith Chas P & Associates PA Cpas’ investment portfolio, making the stock its 27th largest holding. Smith Chas P & Associates PA Cpas’ holdings in Mcdonald’s were worth $16,800,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of MCD. Fundsmith Equity Fund L.P. acquired a new position in shares of Mcdonald’s during the second quarter worth approximately $1,191,239,000. Bank of New York Mellon Corp lifted its holdings in shares of Mcdonald’s by 6,582,167.8% during the third quarter. Bank of New York Mellon Corp now owns 7,964,544 shares of the fast-food giant’s stock worth $1,332,390,000 after buying an additional 7,964,423 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of Mcdonald’s during the second quarter worth approximately $179,723,000. FMR LLC lifted its holdings in shares of Mcdonald’s by 5.5% during the second quarter. FMR LLC now owns 19,483,955 shares of the fast-food giant’s stock worth $3,052,941,000 after buying an additional 1,014,792 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Mcdonald’s by 30.3% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,808,550 shares of the fast-food giant’s stock worth $440,072,000 after buying an additional 652,752 shares during the last quarter. Institutional investors own 66.25% of the company’s stock.
Mcdonald’s stock opened at $189.26 on Friday. Mcdonald’s Corp has a 52-week low of $146.84 and a 52-week high of $190.88. The firm has a market cap of $144.82 billion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 2.76 and a beta of 0.53.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be paid a dividend of $1.16 per share. This is a positive change from Mcdonald’s’s previous quarterly dividend of $1.01. This represents a $4.64 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Friday, November 30th. Mcdonald’s’s dividend payout ratio is currently 60.66%.
A number of research analysts recently commented on the company. Morgan Stanley upgraded Mcdonald’s from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $173.00 to $210.00 in a research note on Thursday. Piper Jaffray Companies upped their target price on Mcdonald’s to $194.00 and gave the company an “overweight” rating in a research note on Wednesday. Zacks Investment Research lowered Mcdonald’s from a “buy” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Co upped their target price on Mcdonald’s from $197.00 to $202.00 and gave the company an “outperform” rating in a research note on Wednesday, November 21st. Finally, Royal Bank of Canada set a $190.00 target price on Mcdonald’s and gave the company a “buy” rating in a research note on Tuesday, November 20th. Seven investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $191.58.
In other Mcdonald’s news, insider Ian Frederick Borden sold 4,782 shares of the stock in a transaction on Thursday, October 25th. The stock was sold at an average price of $177.68, for a total transaction of $849,665.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen Easterbrook sold 201,123 shares of the stock in a transaction on Wednesday, October 24th. The stock was sold at an average price of $175.63, for a total value of $35,323,232.49. Following the transaction, the chief executive officer now owns 48,925 shares of the company’s stock, valued at $8,592,697.75. The disclosure for this sale can be found here. Insiders have sold 221,041 shares of company stock valued at $38,839,407 over the last quarter. Corporate insiders own 0.22% of the company’s stock.
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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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