Bray Capital Advisors cut its position in McDonald's Co. (NYSE:MCD) by 6.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,912 shares of the fast-food giant’s stock after selling 949 shares during the quarter. Bray Capital Advisors’ holdings in McDonald's were worth $2,180,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. State of Wisconsin Investment Board raised its stake in shares of McDonald's by 3.4% during the 3rd quarter. State of Wisconsin Investment Board now owns 1,055,148 shares of the fast-food giant’s stock valued at $165,321,000 after purchasing an additional 34,916 shares during the period. Legacy Advisors LLC bought a new stake in shares of McDonald's during the 3rd quarter valued at $337,000. Stevens Capital Management LP raised its stake in shares of McDonald's by 543.9% during the 3rd quarter. Stevens Capital Management LP now owns 150,935 shares of the fast-food giant’s stock valued at $23,648,000 after purchasing an additional 127,494 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of McDonald's by 2.9% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 144,586 shares of the fast-food giant’s stock valued at $22,654,000 after purchasing an additional 4,009 shares during the period. Finally, BT Investment Management Ltd bought a new stake in shares of McDonald's during the 3rd quarter valued at $1,269,000. Hedge funds and other institutional investors own 67.30% of the company’s stock.
A number of analysts recently issued reports on the company. Credit Suisse Group reiterated an “outperform” rating and set a $185.00 price objective (up from $178.00) on shares of McDonald's in a research note on Tuesday, December 19th. Goldman Sachs Group set a $190.00 price objective on McDonald's and gave the company a “buy” rating in a research note on Friday, January 5th. Cowen reiterated a “buy” rating and set a $200.00 price objective on shares of McDonald's in a research note on Friday, January 5th. Piper Jaffray Companies boosted their target price on McDonald's from $175.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, December 14th. Finally, JPMorgan Chase & Co. set a $186.00 target price on McDonald's and gave the stock a “buy” rating in a research report on Friday. Nine investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $178.88.
McDonald's (NYSE:MCD) last posted its quarterly earnings data on Tuesday, October 24th. The fast-food giant reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.01. The firm had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.75 billion. McDonald's had a negative return on equity of 216.45% and a net margin of 24.19%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.62 EPS. research analysts expect that McDonald's Co. will post 6.53 EPS for the current fiscal year.
In other McDonald's news, insider Stephen Easterbrook sold 171,577 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 49,778 shares of the company’s stock, valued at approximately $8,378,632.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James R. Sappington sold 8,046 shares of the company’s stock in a transaction that occurred 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 directly owns 15,739 shares of the company’s stock, valued at approximately $2,596,935. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
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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