Benedict Financial Advisors Inc. decreased its stake in shares of Mcdonald’s Corp (NYSE:MCD) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,494 shares of the fast-food giant’s stock after selling 901 shares during the quarter. Mcdonald’s comprises about 2.3% of Benedict Financial Advisors Inc.’s investment portfolio, making the stock its 7th biggest holding. Benedict Financial Advisors Inc.’s holdings in Mcdonald’s were worth $5,689,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in the business. Keeler Thomas Management LLC purchased a new position in shares of Mcdonald’s in the third quarter worth $273,000. Broderick Brian C purchased a new position in shares of Mcdonald’s in the third quarter worth $237,000. Eastern Bank raised its stake in shares of Mcdonald’s by 2.1% in the third quarter. Eastern Bank now owns 80,520 shares of the fast-food giant’s stock worth $17,289,000 after purchasing an additional 1,649 shares during the last quarter. Bartlett & Co. LLC raised its stake in shares of Mcdonald’s by 6.1% in the third quarter. Bartlett & Co. LLC now owns 168,823 shares of the fast-food giant’s stock worth $36,248,000 after purchasing an additional 9,638 shares during the last quarter. Finally, Strategic Wealth Advisors Group LLC raised its stake in shares of Mcdonald’s by 23.2% in the third quarter. Strategic Wealth Advisors Group LLC now owns 16,683 shares of the fast-food giant’s stock worth $3,502,000 after purchasing an additional 3,147 shares during the last quarter. Institutional investors and hedge funds own 67.91% of the company’s stock.
Several research analysts have recently weighed in on MCD shares. Citigroup decreased their price target on Mcdonald’s from $221.00 to $216.00 and set a “neutral” rating for the company in a research note on Monday. ValuEngine cut Mcdonald’s from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. KeyCorp decreased their price target on Mcdonald’s from $235.00 to $225.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. BMO Capital Markets lifted their price objective on Mcdonald’s to $230.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, Sanford C. Bernstein reaffirmed a “buy” rating on shares of Mcdonald’s in a report on Friday, July 26th. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Mcdonald’s currently has an average rating of “Buy” and a consensus price target of $221.85.
NYSE:MCD opened at $194.18 on Thursday. The stock has a 50-day simple moving average of $205.39 and a two-hundred day simple moving average of $207.31. Mcdonald’s Corp has a 52-week low of $169.04 and a 52-week high of $221.93. The firm has a market capitalization of $147.29 billion, a PE ratio of 24.58, a P/E/G ratio of 3.07 and a beta of 0.48.
Mcdonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 22nd. The fast-food giant reported $2.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.21 by ($0.10). Mcdonald’s had a net margin of 28.09% and a negative return on equity of 92.46%. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the prior year, the firm posted $2.10 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities analysts anticipate that Mcdonald’s Corp will post 7.87 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.57%. The ex-dividend date is Friday, November 29th. This is a positive change from Mcdonald’s’s previous quarterly dividend of $1.16. Mcdonald’s’s payout ratio is currently 58.73%.
In related news, CEO Christopher J. Kempczinski purchased 2,580 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was acquired at an average price of $193.81 per share, with a total value of $500,029.80. Following the completion of the acquisition, the chief executive officer now owns 2,580 shares of the company’s stock, valued at approximately $500,029.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Catherine A. Hoovel sold 457 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $218.15, for a total value of $99,694.55. Following the sale, the vice president now directly owns 1,348 shares of the company’s stock, valued at approximately $294,066.20. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
Mcdonald’s Company Profile
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, 2018, the company operated 37,855 restaurants, including 35,085 franchised restaurants comprising 21,685 franchised to conventional franchisees, 7,225 licensed to developmental licensees, and 6,175 licensed to foreign affiliates; and 2,770 company-operated restaurants.
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