OmniStar Financial Group Inc. lowered its position in shares of Mcdonald’s Corp (NYSE:MCD) by 42.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 7,233 shares of the fast-food giant’s stock after selling 5,291 shares during the quarter. Mcdonald’s comprises about 1.4% of OmniStar Financial Group Inc.’s portfolio, making the stock its 24th largest position. OmniStar Financial Group Inc.’s holdings in Mcdonald’s were worth $1,553,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Krane Funds Advisors LLC acquired a new position in shares of Mcdonald’s in the 2nd quarter valued at about $25,000. Litman Gregory Asset Management LLC acquired a new position in shares of Mcdonald’s in the 2nd quarter valued at about $27,000. Atlas Capital Advisors LLC lifted its holdings in shares of Mcdonald’s by 330.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 142 shares of the fast-food giant’s stock valued at $29,000 after buying an additional 109 shares during the period. Westside Investment Management Inc. acquired a new position in shares of Mcdonald’s in the 2nd quarter valued at about $34,000. Finally, Next Capital Management LLC acquired a new position in shares of Mcdonald’s in the 2nd quarter valued at about $41,000. 67.60% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on the company. Robert W. Baird boosted their price objective on Mcdonald’s from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, July 29th. BTIG Research boosted their price objective on Mcdonald’s from $220.00 to $240.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. BMO Capital Markets boosted their price objective on Mcdonald’s to $230.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Telsey Advisory Group restated an “outperform” rating and issued a $230.00 price target (up previously from $210.00) on shares of Mcdonald’s in a research note on Monday, July 15th. Finally, Stephens set a $230.00 price target on Mcdonald’s and gave the company a “buy” rating in a research note on Thursday, September 26th. Nine analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $221.90.
In other Mcdonald’s news, VP Catherine A. Hoovel sold 457 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $218.15, for a total transaction of $99,694.55. Following the completion of the sale, the vice president now directly owns 1,348 shares in the company, valued at approximately $294,066.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Silvia Lagnado sold 26,649 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $212.58, for a total value of $5,665,044.42. Following the sale, the executive vice president now owns 40,129 shares of the company’s stock, valued at $8,530,622.82. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.
NYSE:MCD traded down $2.74 during trading hours on Friday, hitting $209.02. 420,926 shares of the stock were exchanged, compared to its average volume of 3,313,624. Mcdonald’s Corp has a 52-week low of $161.82 and a 52-week high of $221.93. The firm’s fifty day moving average price is $213.77 and its 200 day moving average price is $205.88. The company has a market cap of $160.33 billion, a P/E ratio of 26.46, a P/E/G ratio of 3.14 and a beta of 0.49.
Mcdonald’s (NYSE:MCD) last posted its quarterly earnings data on Friday, July 26th. The fast-food giant reported $2.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.06 by ($0.01). Mcdonald’s had a negative return on equity of 92.02% and a net margin of 28.32%. The firm had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $5.34 billion. During the same quarter last year, the firm posted $1.99 earnings per share. Mcdonald’s’s quarterly revenue was down .2% on a year-over-year basis. As a group, sell-side analysts expect that Mcdonald’s Corp will post 8.01 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.25 per share. This is a positive change from Mcdonald’s’s previous quarterly dividend of $1.16. This represents a $5.00 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Friday, November 29th. Mcdonald’s’s payout ratio is 58.73%.
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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