Avitas Wealth Management LLC boosted its holdings in Mcdonald’s Corp (NYSE:MCD) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,425 shares of the fast-food giant’s stock after buying an additional 678 shares during the quarter. Avitas Wealth Management LLC’s holdings in Mcdonald’s were worth $2,748,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Fundsmith Equity Fund L.P. bought a new position in Mcdonald’s in the 2nd quarter valued at approximately $1,191,239,000. Psagot Investment House Ltd. increased its position in Mcdonald’s by 83.7% during the 3rd quarter. Psagot Investment House Ltd. now owns 8,560 shares of the fast-food giant’s stock valued at $1,432,000 after purchasing an additional 3,900 shares during the period. AustralianSuper Pty Ltd acquired a new stake in Mcdonald’s during the 2nd quarter valued at approximately $179,723,000. California Capital Advisors Inc. increased its position in Mcdonald’s by 37.7% during the 3rd quarter. California Capital Advisors Inc. now owns 23,470 shares of the fast-food giant’s stock valued at $3,926,000 after purchasing an additional 6,424 shares during the period. Finally, Scopus Asset Management L.P. increased its position in Mcdonald’s by 20.0% during the 2nd quarter. Scopus Asset Management L.P. now owns 300,000 shares of the fast-food giant’s stock valued at $47,007,000 after purchasing an additional 50,000 shares during the period. Institutional investors and hedge funds own 67.20% of the company’s stock.
A number of analysts have weighed in on the stock. Sanford C. Bernstein reissued a “buy” rating and set a $195.00 target price on shares of Mcdonald’s in a research report on Tuesday, October 23rd. Royal Bank of Canada set a $190.00 target price on shares of Mcdonald’s and gave the company a “buy” rating in a research report on Wednesday, October 24th. Barclays reissued a “buy” rating and set a $198.00 target price on shares of Mcdonald’s in a research report on Wednesday, October 24th. Robert W. Baird reissued a “buy” rating and set a $200.00 target price on shares of Mcdonald’s in a research report on Wednesday, October 24th. Finally, KeyCorp assumed coverage on shares of Mcdonald’s in a research report on Wednesday, October 3rd. They set an “overweight” rating and a $185.00 target price for the company. Seven analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $191.72.
In other news, EVP Francesca A. Debiase sold 15,136 shares of the firm’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 transaction of $2,666,509.12. Following the completion of the sale, the executive vice president now owns 17,306 shares of the company’s stock, valued at approximately $3,048,798.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ian Frederick Borden sold 4,782 shares of the firm’s stock in a transaction that occurred on Thursday, October 25th. The stock was sold at an average price of $177.68, for a total transaction of $849,665.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 221,041 shares of company stock valued at $38,839,407. Insiders own 0.22% of the company’s stock.
Shares of MCD stock opened at $174.15 on Friday. The company has a market cap of $138.12 billion, a PE ratio of 26.15, a P/E/G ratio of 2.63 and a beta of 0.55. Mcdonald’s Corp has a 52 week low of $146.84 and a 52 week high of $190.88.
Mcdonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 23rd. The fast-food giant reported $2.10 EPS for the quarter, topping the consensus estimate of $1.99 by $0.11. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.28 billion. Mcdonald’s had a net margin of 24.56% and a negative return on equity of 116.43%. The company’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.76 EPS. Research analysts expect that Mcdonald’s Corp will post 7.76 earnings per share for the current year.
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Mcdonald’s Company Profile
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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