Mcdonald’s Corp (MCD) Stake Boosted by West Coast Financial LLC
West Coast Financial LLC lifted its holdings in Mcdonald’s Corp (NYSE:MCD) by 64.5% in the third quarter, HoldingsChannel.com reports. The fund owned 2,722 shares of the fast-food giant’s stock after buying an additional 1,067 shares during the quarter. West Coast Financial LLC’s holdings in Mcdonald’s were worth $455,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rainier Group Investment Advisory LLC bought a new position in Mcdonald’s during the first quarter valued at approximately $102,000. CSat Investment Advisory L.P. bought a new position in Mcdonald’s during the second quarter valued at approximately $104,000. CX Institutional bought a new position in Mcdonald’s during the second quarter valued at approximately $109,000. Quad Cities Investment Group LLC bought a new position in Mcdonald’s during the second quarter valued at approximately $110,000. Finally, Horan Capital Management bought a new position in Mcdonald’s during the second quarter valued at approximately $121,000. 66.92% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE MCD opened at $167.49 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.45 and a debt-to-equity ratio of -5.24. Mcdonald’s Corp has a fifty-two week low of $146.84 and a fifty-two week high of $178.70. The company has a market capitalization of $129.41 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 2.48 and a beta of 0.66.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders 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 2.77%. This is an increase 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 is presently 60.66%.
A number of equities analysts recently commented on MCD shares. Royal Bank of Canada reissued a “buy” rating and set a $175.00 price target on shares of Mcdonald’s in a research note on Monday, July 9th. Wells Fargo & Co dropped their price target on Mcdonald’s from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, July 11th. Cleveland Research lowered Mcdonald’s from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Mcdonald’s in a research note on Wednesday, July 11th. Finally, Stifel Nicolaus reaffirmed a “neutral” rating and issued a $168.00 price objective on shares of Mcdonald’s in a research note on Monday, July 16th. Seven investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $183.35.
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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