Resources Management Corp CT ADV acquired a new position in Mcdonald’s Corp (NYSE:MCD) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 77,273 shares of the fast-food giant’s stock, valued at approximately $16,591,000. Mcdonald’s accounts for approximately 3.1% of Resources Management Corp CT ADV’s portfolio, making the stock its 4th largest holding.
Several other large investors have also added to or reduced their stakes in MCD. Man Group plc lifted its stake in Mcdonald’s by 3.6% in the 3rd quarter. Man Group plc now owns 187,770 shares of the fast-food giant’s stock worth $40,315,000 after purchasing an additional 6,525 shares in the last quarter. Prestige Wealth Management Group LLC boosted its holdings in shares of Mcdonald’s by 9.7% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,938 shares of the fast-food giant’s stock valued at $416,000 after purchasing an additional 172 shares during the last quarter. Signet Financial Management LLC boosted its holdings in shares of Mcdonald’s by 9.6% during the 3rd quarter. Signet Financial Management LLC now owns 1,410 shares of the fast-food giant’s stock valued at $272,000 after purchasing an additional 123 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Mcdonald’s during the third quarter valued at about $43,054,000. Finally, IHT Wealth Management LLC grew its position in shares of Mcdonald’s by 22.4% during the third quarter. IHT Wealth Management LLC now owns 14,917 shares of the fast-food giant’s stock valued at $3,147,000 after purchasing an additional 2,731 shares in the last quarter. Hedge funds and other institutional investors own 67.21% of the company’s stock.
In other Mcdonald’s news, CEO Christopher J. Kempczinski purchased 2,580 shares of Mcdonald’s stock in a transaction dated Wednesday, November 6th. The shares were purchased at an average cost of $193.81 per share, for a total transaction of $500,029.80. Following the completion of the acquisition, the chief executive officer now owns 2,580 shares in the company, valued at approximately $500,029.80. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John W. Rogers, Jr. purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average cost of $194.12 per share, with a total value of $194,120.00. Following the completion of the purchase, the director now directly owns 88,500 shares in the company, valued at approximately $17,179,620. The disclosure for this purchase can be found here. Insiders bought a total of 7,380 shares of company stock valued at $1,430,223 in the last 90 days. Company insiders own 0.25% of the company’s stock.
Mcdonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, October 22nd. The fast-food giant reported $2.11 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.10). Mcdonald’s had a negative return on equity of 85.71% and a net margin of 28.09%. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.47 billion. During the same period in the previous year, the firm earned $2.10 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, analysts anticipate that Mcdonald’s Corp will post 7.84 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Mcdonald’s’s previous quarterly dividend of $1.16. Mcdonald’s’s dividend payout ratio (DPR) is 63.29%.
A number of equities research analysts recently commented on the company. Stephens set a $230.00 target price on Mcdonald’s and gave the stock a “buy” rating in a research report on Thursday, September 26th. Robert W. Baird cut their price target on Mcdonald’s from $230.00 to $225.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. ValuEngine cut Mcdonald’s from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. SunTrust Banks reduced their price objective on Mcdonald’s from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, TheStreet raised Mcdonald’s from a “c+” rating to a “b-” rating in a report on Monday, August 26th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $222.11.
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, 2018, the company operated 37,855 restaurants, including 35,085 franchised restaurants comprising 21,685 franchised to conventional franchisees, 7,225 licensed to developmental licensees, and 6,175 licensed to foreign affiliates; and 2,770 company-operated restaurants.
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