Doyle Wealth Management bought a new position in McDonald's Co. (NYSE:MCD) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 28,944 shares of the fast-food giant’s stock, valued at approximately $3,751,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Aviance Capital Management LLC increased its stake in McDonald's Co. by 11.1% in the third quarter. Aviance Capital Management LLC now owns 224,022 shares of the fast-food giant’s stock valued at $25,843,000 after buying an additional 22,358 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in McDonald's Co. by 1.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 23,925,310 shares of the fast-food giant’s stock valued at $2,760,024,000 after buying an additional 260,354 shares during the period. Douglass Winthrop Advisors LLC increased its stake in McDonald's Co. by 1.6% in the third quarter. Douglass Winthrop Advisors LLC now owns 50,037 shares of the fast-food giant’s stock valued at $5,772,000 after buying an additional 800 shares during the period. Rhumbline Advisers increased its stake in McDonald's Co. by 2.9% in the third quarter. Rhumbline Advisers now owns 1,458,251 shares of the fast-food giant’s stock valued at $168,224,000 after buying an additional 41,343 shares during the period. Finally, BlackRock Group LTD increased its stake in McDonald's Co. by 1.2% in the third quarter. BlackRock Group LTD now owns 8,142,077 shares of the fast-food giant’s stock valued at $939,270,000 after buying an additional 94,940 shares during the period. 67.19% of the stock is currently owned by institutional investors and hedge funds.
McDonald's Co. (NYSE:MCD) last issued its quarterly earnings results on Tuesday, April 25th. The fast-food giant reported $1.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.14. McDonald's Co. had a return on equity of 514.39% and a net margin of 18.93%. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.53 billion. During the same quarter in the prior year, the business posted $1.23 EPS. McDonald's Co.’s revenue for the quarter was down 3.9% compared to the same quarter last year.
A number of research firms have recently weighed in on MCD. Canaccord Genuity reiterated a “hold” rating and set a $125.00 target price on shares of McDonald's Co. in a research report on Friday, February 24th. BTIG Research upped their target price on McDonald's Co. from $137.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Stifel Nicolaus set a $120.00 price objective on McDonald's Co. and gave the stock a “neutral” rating in a research report on Thursday, February 2nd. Wells Fargo & Co upgraded McDonald's Co. from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $131.70 to $130.76 in a research report on Monday, April 17th. They noted that the move was a valuation call. Finally, Deutsche Bank AG restated a “buy” rating and set a $155.00 price objective on shares of McDonald's Co. in a research report on Wednesday, April 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $141.50.
In other news, Director John J. Mulligan acquired 1,600 shares of the business’s stock in a transaction dated Wednesday, March 22nd. The stock was purchased at an average price of $128.94 per share, for a total transaction of $206,304.00. Following the completion of the transaction, the director now directly owns 1,600 shares in the company, valued at approximately $206,304. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, VP James R. Sappington sold 13,912 shares of the firm’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $141.39, for a total value of $1,967,017.68. Following the transaction, the vice president now owns 14,608 shares of the company’s stock, valued at approximately $2,065,425.12. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.
McDonald's Co. 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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