McDonald's Co. (MCD) Position Cut by Boyar Asset Management Inc.
Boyar Asset Management Inc. trimmed its position in McDonald's Co. (NYSE:MCD) by 6.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,865 shares of the fast-food giant’s stock after selling 552 shares during the quarter. Boyar Asset Management Inc.’s holdings in McDonald's were worth $1,232,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in MCD. Jennison Associates LLC increased its stake in McDonald's by 681.3% in the second quarter. Jennison Associates LLC now owns 6,109,830 shares of the fast-food giant’s stock valued at $935,782,000 after acquiring an additional 5,327,778 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of McDonald's by 3,951.0% during the second quarter. Janus Henderson Group PLC now owns 4,422,423 shares of the fast-food giant’s stock worth $677,339,000 after buying an additional 4,313,253 shares during the last quarter. FMR LLC grew its stake in shares of McDonald's by 72.9% during the second quarter. FMR LLC now owns 8,371,823 shares of the fast-food giant’s stock worth $1,282,229,000 after buying an additional 3,530,622 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of McDonald's by 69.9% during the second quarter. Alliancebernstein L.P. now owns 7,558,294 shares of the fast-food giant’s stock worth $1,157,628,000 after buying an additional 3,110,669 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of McDonald's by 3.0% during the second quarter. BlackRock Inc. now owns 54,606,388 shares of the fast-food giant’s stock worth $8,363,515,000 after buying an additional 1,586,761 shares during the last quarter. 67.28% of the stock is currently owned by institutional investors and hedge funds.
MCD has been the topic of a number of research reports. Mizuho reaffirmed a “buy” rating and set a $173.00 target price (up previously from $170.00) on shares of McDonald's in a research note on Wednesday, September 13th. Sanford C. Bernstein set a $180.00 target price on shares of McDonald's and gave the stock a “buy” rating in a research note on Tuesday, September 19th. Credit Suisse Group set a $170.00 target price on shares of McDonald's and gave the stock a “buy” rating in a research note on Wednesday, September 20th. Zacks Investment Research raised shares of McDonald's from a “hold” rating to a “buy” rating and set a $178.00 target price on the stock in a research note on Tuesday, September 26th. Finally, Longbow Research raised shares of McDonald's from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $154.05 to $183.00 in a research note on Thursday, September 28th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $178.52.
McDonald's (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 24th. The fast-food giant reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.01. The company had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.75 billion. McDonald's had a net margin of 24.19% and a negative return on equity of 216.45%. McDonald's’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 earnings per share. analysts forecast that McDonald's Co. will post 6.53 EPS for the current year.
In related news, VP James R. Sappington sold 8,046 shares of the business’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $165.00, for a total value of $1,327,590.00. Following the transaction, the vice president now owns 15,739 shares in the company, valued at $2,596,935. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Stephen Easterbrook sold 171,577 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $168.32, for a total transaction of $28,879,840.64. Following the completion of the transaction, the insider now owns 49,778 shares in the company, valued at approximately $8,378,632.96. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.
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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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