Mcdonald’s Corp (MCD) Position Cut by Wealthsource Partners LLC
Wealthsource Partners LLC lessened its stake in Mcdonald’s Corp (NYSE:MCD) by 13.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,601 shares of the fast-food giant’s stock after selling 704 shares during the quarter. Wealthsource Partners LLC’s holdings in Mcdonald’s were worth $770,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Fundsmith Equity Fund L.P. bought a new position in Mcdonald’s in the 2nd quarter valued at about $1,191,239,000. Psagot Investment House Ltd. grew its position in Mcdonald’s by 83.7% in 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 buying an additional 3,900 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in Mcdonald’s in the 2nd quarter valued at about $179,723,000. California Capital Advisors Inc. grew its position in Mcdonald’s by 37.7% in 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 buying an additional 6,424 shares in the last quarter. Finally, Scopus Asset Management L.P. boosted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 67.22% of the company’s stock.
Shares of MCD opened at $182.96 on Friday. Mcdonald’s Corp has a one year low of $146.84 and a one year high of $190.88. The stock has a market capitalization of $142.97 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 2.72 and a beta of 0.55.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.54%. This is a boost from Mcdonald’s’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Friday, November 30th. Mcdonald’s’s dividend payout ratio (DPR) is presently 69.67%.
Several equities analysts have recently weighed in on MCD shares. Morningstar set a $190.00 price objective on shares of Mcdonald’s and gave the company a “neutral” rating in a research report on Wednesday, October 24th. Royal Bank of Canada restated a “buy” rating and set a $175.00 price objective on shares of Mcdonald’s in a research report on Thursday, September 27th. Stephens raised their price objective on shares of Mcdonald’s to $170.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 24th. ValuEngine upgraded shares of Mcdonald’s from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Finally, Goldman Sachs Group restated a “buy” rating and set a $195.00 price objective on shares of Mcdonald’s in a research report on Friday, October 26th. Seven investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $191.69.
In other news, insider Ian Frederick Borden sold 4,782 shares of the stock in a transaction that occurred on Thursday, October 25th. The shares were sold at an average price of $177.68, for a total value of $849,665.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen Easterbrook sold 201,123 shares of the stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $175.63, for a total transaction of $35,323,232.49. Following the completion of the sale, the chief executive officer now directly owns 48,925 shares of the company’s stock, valued at $8,592,697.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 221,041 shares of company stock valued at $38,839,407. Corporate insiders own 0.22% of the company’s stock.
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.
Further Reading: Institutional Investors
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