Sit Investment Associates Inc. grew its stake in shares of Mcdonald’s Corp (NYSE:MCD) by 142.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,710 shares of the fast-food giant’s stock after acquiring an additional 44,420 shares during the quarter. Sit Investment Associates Inc.’s holdings in Mcdonald’s were worth $13,444,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Highwater Wealth Management LLC purchased a new stake in shares of Mcdonald’s during the 4th quarter valued at about $38,000. Tower View Investment Management & Research LLC lifted its stake in shares of Mcdonald’s by 20.6% in the 4th quarter. Tower View Investment Management & Research LLC now owns 375 shares of the fast-food giant’s stock worth $67,000 after purchasing an additional 64 shares during the period. NuWave Investment Management LLC lifted its stake in shares of Mcdonald’s by 2,485.2% in the 3rd quarter. NuWave Investment Management LLC now owns 698 shares of the fast-food giant’s stock worth $117,000 after purchasing an additional 671 shares during the period. Truvestments Capital LLC bought a new position in shares of Mcdonald’s in the 3rd quarter worth approximately $122,000. Finally, Sound Income Strategies LLC lifted its stake in shares of Mcdonald’s by 69.2% in the 3rd quarter. Sound Income Strategies LLC now owns 743 shares of the fast-food giant’s stock worth $124,000 after purchasing an additional 304 shares during the period. 67.16% of the stock is currently owned by hedge funds and other institutional investors.
In other Mcdonald’s news, insider Ian Frederick Borden sold 4,782 shares of the stock in a transaction that occurred on Thursday, October 25th. The shares were sold at an average price of $177.68, for a total transaction of $849,665.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen Easterbrook sold 201,123 shares of the stock in a transaction that occurred on Wednesday, October 24th. The shares were sold at an average price of $175.63, for a total transaction of $35,323,232.49. Following the sale, the chief executive officer now directly owns 48,925 shares of the company’s stock, valued at $8,592,697.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 221,041 shares of company stock valued at $38,839,407. Insiders own 0.22% of the company’s stock.
MCD traded down $1.14 during trading on Monday, reaching $181.23. 71,062 shares of the company traded hands, compared to its average volume of 2,905,592. Mcdonald’s Corp has a 12-month low of $146.84 and a 12-month high of $190.88. The firm has a market cap of $138.99 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 2.48 and a beta of 0.59.
Mcdonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.11. Mcdonald’s had a net margin of 24.56% and a negative return on equity of 116.43%. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period last year, the firm posted $1.76 EPS. The company’s revenue was down 6.7% on a year-over-year basis. As a group, equities research analysts expect that Mcdonald’s Corp will post 7.76 EPS for the current year.
Several equities analysts have recently weighed in on the stock. Barclays set a $198.00 price objective on shares of Mcdonald’s and gave the stock a “buy” rating in a research note on Monday, November 19th. Morgan Stanley upgraded shares of Mcdonald’s from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $173.00 to $210.00 in a research note on Thursday, November 29th. Piper Jaffray Companies increased their price objective on shares of Mcdonald’s to $194.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 28th. Jefferies Financial Group reiterated a “buy” rating and issued a $200.00 price objective on shares of Mcdonald’s in a research note on Tuesday, December 4th. Finally, Cowen increased their price objective on shares of Mcdonald’s from $190.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, November 9th. Seven equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $191.76.
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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, 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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