Convergence Investment Partners LLC raised its holdings in McDonald's Co. (NYSE:MCD) by 189.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,376 shares of the fast-food giant’s stock after buying an additional 900 shares during the period. Convergence Investment Partners LLC’s holdings in McDonald's were worth $237,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Horan Capital Advisors LLC. acquired a new position in shares of McDonald's during the 3rd quarter worth about $104,000. Phocas Financial Corp. acquired a new position in shares of McDonald's during the 2nd quarter worth about $107,000. Proficio Capital Partners LLC increased its stake in shares of McDonald's by 0.7% during the 2nd quarter. Proficio Capital Partners LLC now owns 745 shares of the fast-food giant’s stock worth $117,000 after purchasing an additional 5 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in shares of McDonald's by 219.2% during the 3rd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 830 shares of the fast-food giant’s stock worth $130,000 after purchasing an additional 570 shares during the last quarter. Finally, Howe & Rusling Inc. increased its stake in shares of McDonald's by 75.0% during the 3rd quarter. Howe & Rusling Inc. now owns 840 shares of the fast-food giant’s stock worth $132,000 after purchasing an additional 360 shares during the last quarter. Hedge funds and other institutional investors own 67.23% of the company’s stock.
In other news, insider Douglas M. Goare sold 34,575 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $173.53, for a total transaction of $5,999,799.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Catherine A. Hoovel sold 1,398 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $170.54, for a total transaction of $238,414.92. Following the sale, the vice president now directly owns 1,398 shares of the company’s stock, valued at approximately $238,414.92. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
McDonald's (NYSE:MCD) last issued its quarterly earnings results on Tuesday, January 30th. The fast-food giant reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.12. The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period last year, the company posted $1.44 EPS. The business’s revenue was down 11.4% on a year-over-year basis. equities research analysts expect that McDonald's Co. will post 7.65 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Wednesday, February 28th. McDonald's’s dividend payout ratio (DPR) is presently 47.64%.
Several research analysts have recently weighed in on the stock. ValuEngine lowered shares of McDonald's from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Goldman Sachs Group set a $180.00 price objective on shares of McDonald's and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Barclays lowered their price objective on shares of McDonald's from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Credit Suisse Group restated an “outperform” rating and set a $191.00 price objective (up from $185.00) on shares of McDonald's in a research note on Tuesday, January 23rd. Finally, Deutsche Bank set a $185.00 price objective on shares of McDonald's and gave the stock a “buy” rating in a research note on Thursday, October 26th. Nine research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $184.95.
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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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