Mutual of America Capital Management LLC Reduces Position in Mcdonald’s Corp (MCD)
Mutual of America Capital Management LLC reduced its position in shares of Mcdonald’s Corp (NYSE:MCD) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,311 shares of the fast-food giant’s stock after selling 885 shares during the period. Mutual of America Capital Management LLC’s holdings in Mcdonald’s were worth $16,781,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of MCD. Fundsmith Equity Fund L.P. acquired a new stake in Mcdonald’s in the second quarter worth $1,191,239,000. Psagot Investment House Ltd. increased its position in Mcdonald’s by 83.7% in the third quarter. Psagot Investment House Ltd. now owns 8,560 shares of the fast-food giant’s stock worth $1,432,000 after buying an additional 3,900 shares during the period. AustralianSuper Pty Ltd acquired a new stake in Mcdonald’s in the second quarter worth $179,723,000. California Capital Advisors Inc. increased its position in Mcdonald’s by 37.7% in the third quarter. California Capital Advisors Inc. now owns 23,470 shares of the fast-food giant’s stock worth $3,926,000 after buying an additional 6,424 shares during the period. Finally, Scopus Asset Management L.P. increased its position in Mcdonald’s by 20.0% in the second quarter. Scopus Asset Management L.P. now owns 300,000 shares of the fast-food giant’s stock worth $47,007,000 after buying an additional 50,000 shares during the period. 67.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of MCD stock opened at $185.45 on Friday. Mcdonald’s Corp has a fifty-two week low of $146.84 and a fifty-two week high of $190.88. The stock has a market cap of $142.65 billion, a P/E ratio of 27.85, a PEG ratio of 2.71 and a beta of 0.55.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be paid a dividend of $1.16 per share. The ex-dividend date is Friday, November 30th. This represents a $4.64 annualized dividend and a yield of 2.50%. This is a boost from Mcdonald’s’s previous quarterly dividend of $1.01. Mcdonald’s’s dividend payout ratio (DPR) is currently 69.67%.
In related news, CEO Stephen Easterbrook sold 201,123 shares of the stock in a transaction on Wednesday, October 24th. The stock was sold at an average price of $175.63, for a total value of $35,323,232.49. Following the completion of the transaction, the chief executive officer now owns 48,925 shares in the company, valued at approximately $8,592,697.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Francesca A. Debiase sold 15,136 shares of the stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $176.17, for a total value of $2,666,509.12. Following the completion of the transaction, the executive vice president now owns 17,306 shares of the company’s stock, valued at approximately $3,048,798.02. The disclosure for this sale can be found here. Insiders have sold 221,041 shares of company stock valued at $38,839,407 in the last ninety days. Company insiders own 0.22% of the company’s stock.
Several equities research analysts have weighed in on MCD shares. Citigroup dropped their target price on Mcdonald’s from $178.00 to $171.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 15th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $175.00 target price on shares of Mcdonald’s in a research report on Thursday, August 16th. Stifel Nicolaus reissued a “neutral” rating and set a $168.00 price target on shares of Mcdonald’s in a report on Monday, August 20th. Barclays reissued a “buy” rating and set a $194.00 price target on shares of Mcdonald’s in a report on Monday, August 20th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $190.00 price target on shares of Mcdonald’s in a report on Tuesday, August 28th. Six research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $191.69.
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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