FineMark National Bank & Trust reduced its holdings in shares of McDonald's Co. (NYSE:MCD) by 3.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,753 shares of the fast-food giant’s stock after selling 1,594 shares during the quarter. FineMark National Bank & Trust’s holdings in McDonald's were worth $7,012,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of MCD. Jennison Associates LLC lifted its holdings in McDonald's by 681.3% during the second quarter. Jennison Associates LLC now owns 6,109,830 shares of the fast-food giant’s stock worth $935,782,000 after acquiring an additional 5,327,778 shares during the period. Janus Henderson Group PLC lifted its holdings in McDonald's by 3,951.0% during the second quarter. Janus Henderson Group PLC now owns 4,422,423 shares of the fast-food giant’s stock worth $677,339,000 after acquiring an additional 4,313,253 shares during the period. FMR LLC lifted its holdings in McDonald's by 72.9% during the second quarter. FMR LLC now owns 8,371,823 shares of the fast-food giant’s stock worth $1,282,229,000 after acquiring an additional 3,530,622 shares during the period. Alliancebernstein L.P. lifted its holdings in McDonald's by 69.9% during the second quarter. Alliancebernstein L.P. now owns 7,558,294 shares of the fast-food giant’s stock worth $1,157,628,000 after acquiring an additional 3,110,669 shares during the period. Finally, BlackRock Inc. lifted its holdings in McDonald's by 3.0% during the second quarter. BlackRock Inc. now owns 54,606,388 shares of the fast-food giant’s stock worth $8,363,515,000 after acquiring an additional 1,586,761 shares during the period. Institutional investors and hedge funds own 67.27% of the company’s stock.
In other news, VP James R. Sappington sold 8,046 shares of McDonald's stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $165.00, for a total value of $1,327,590.00. Following the completion of the transaction, the vice president now directly owns 15,739 shares in the company, valued at $2,596,935. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Easterbrook sold 171,577 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $168.32, for a total value of $28,879,840.64. Following the transaction, the insider now owns 49,778 shares of the company’s stock, valued at $8,378,632.96. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.
McDonald's (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 24th. The fast-food giant reported $1.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.01. The company 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 firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 earnings per share. analysts anticipate that McDonald's Co. will post 6.53 EPS for the current year.
A number of analysts recently commented on MCD shares. Royal Bank of Canada reiterated a “buy” rating and set a $175.00 price target on shares of McDonald's in a report on Friday, September 8th. Mizuho reissued a “buy” rating and issued a $173.00 target price (up from $170.00) on shares of McDonald's in a research report on Wednesday, September 13th. Sanford C. Bernstein set a $180.00 target price on McDonald's and gave the stock a “buy” rating in a research report on Tuesday, September 19th. Credit Suisse Group set a $170.00 target price on McDonald's and gave the stock a “buy” rating in a research report on Wednesday, September 20th. Finally, Zacks Investment Research raised McDonald's from a “hold” rating to a “buy” rating and set a $178.00 target price for the company in a research report on Tuesday, September 26th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $176.98.
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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