McDonald's Co. (MCD) Shares Bought by Jennison Associates LLC
Jennison Associates LLC grew its position in shares of McDonald's Co. (NYSE:MCD) by 14.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,972,117 shares of the fast-food giant’s stock after buying an additional 862,287 shares during the quarter. McDonald's accounts for approximately 1.1% of Jennison Associates LLC’s investment portfolio, making the stock its 25th largest holding. Jennison Associates LLC’s holdings in McDonald's were worth $1,092,391,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of MCD. Phocas Financial Corp. bought a new stake in shares of McDonald's during the second quarter valued at approximately $107,000. Proficio Capital Partners LLC grew its stake in shares of McDonald's by 0.7% during the second quarter. Proficio Capital Partners LLC now owns 745 shares of the fast-food giant’s stock valued at $117,000 after purchasing an additional 5 shares during the last quarter. Howe & Rusling Inc. grew its stake in shares of McDonald's by 75.0% during the third quarter. Howe & Rusling Inc. now owns 840 shares of the fast-food giant’s stock valued at $132,000 after purchasing an additional 360 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in shares of McDonald's during the second quarter valued at approximately $153,000. Finally, Accurate Investment Solutions Inc. grew its stake in shares of McDonald's by 861.3% during the third quarter. Accurate Investment Solutions Inc. now owns 1,019 shares of the fast-food giant’s stock valued at $160,000 after purchasing an additional 913 shares during the last quarter. 67.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of McDonald's Co. (NYSE MCD) opened at $173.57 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.28 and a debt-to-equity ratio of -8.17. The firm has a market cap of $140,590.00, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 2.75 and a beta of 0.67. McDonald's Co. has a twelve month low of $119.82 and a twelve month high of $175.78.
McDonald's (NYSE:MCD) last posted its earnings results on Tuesday, October 24th. The fast-food giant reported $1.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.01. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.75 billion. McDonald's had a net margin of 24.19% and a negative return on equity of 216.45%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the business posted $1.62 earnings per share. sell-side analysts anticipate that McDonald's Co. will post 6.53 EPS for the current year.
Several analysts have recently commented on MCD shares. Nomura set a $183.00 price target on shares of McDonald's and gave the company a “buy” rating in a research note on Tuesday, October 17th. Goldman Sachs Group set a $172.00 price target on shares of McDonald's and gave the company a “buy” rating in a research note on Friday, October 13th. Longbow Research raised shares of McDonald's from a “neutral” rating to a “buy” rating and increased their price target for the company from $154.05 to $183.00 in a research note on Thursday, September 28th. Zacks Investment Research raised shares of McDonald's from a “hold” rating to a “buy” rating and set a $178.00 price target on the stock in a research note on Tuesday, September 26th. Finally, Credit Suisse Group set a $170.00 price target on shares of McDonald's and gave the company a “buy” rating in a research note on Wednesday, September 20th. Nine investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $178.88.
In other McDonald's news, VP James R. Sappington sold 8,046 shares of the 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 sale, the vice president now directly 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 at the SEC website. Also, insider Stephen Easterbrook sold 171,577 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $168.32, for a total transaction of $28,879,840.64. Following the completion of the sale, the insider now owns 49,778 shares in the company, valued at $8,378,632.96. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
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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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