Suffolk Capital Management LLC trimmed its position in shares of McDonald’s (NYSE:MCD) by 51.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,086 shares of the fast-food giant’s stock after selling 42,237 shares during the quarter. Suffolk Capital Management LLC’s holdings in McDonald’s were worth $6,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Horan Capital Advisors LLC. bought a new position in McDonald’s in the 3rd quarter worth $104,000. Pinnacle Wealth Planning Services Inc. bought a new position in McDonald’s in the 4th quarter worth $109,000. Tarbox Family Office Inc. raised its holdings in McDonald’s by 105.8% in the 4th quarter. Tarbox Family Office Inc. now owns 638 shares of the fast-food giant’s stock worth $110,000 after purchasing an additional 328 shares during the period. Horan Capital Management bought a new position in McDonald’s in the 4th quarter worth $110,000. Finally, Certified Advisory Corp bought a new position in McDonald’s in the 4th quarter worth $121,000. 67.53% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on the company. Bank of America set a $200.00 target price on McDonald’s and gave the stock a “buy” rating in a report on Monday, January 29th. JPMorgan Chase & Co. set a $184.00 target price on McDonald’s and gave the stock a “buy” rating in a report on Wednesday, January 31st. Credit Suisse Group set a $191.00 target price on McDonald’s and gave the stock a “buy” rating in a report on Tuesday, January 30th. Royal Bank of Canada set a $190.00 target price on McDonald’s and gave the stock a “buy” rating in a report on Tuesday, January 30th. Finally, Nomura raised their target price on McDonald’s from $198.00 to $203.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $184.03.
McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, April 30th. The fast-food giant reported $1.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.12. The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $4.97 billion. McDonald’s had a negative return on equity of 167.80% and a net margin of 24.02%. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.47 earnings per share. analysts anticipate that McDonald’s will post 7.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 18th. Stockholders of record on Monday, June 4th will be given a dividend of $1.01 per share. The ex-dividend date is Friday, June 1st. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.48%. McDonald’s’s payout ratio is 60.66%.
In other news, EVP Kevin M. Ozan sold 18,636 shares of the firm’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $165.69, for a total transaction of $3,087,798.84. Following the completion of the transaction, the executive vice president now owns 29,800 shares in the company, valued at $4,937,562. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas M. Goare sold 13,255 shares of the firm’s stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $165.40, for a total value of $2,192,377.00. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.
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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