Essex Financial Services Inc. grew its holdings in McDonald’s (NYSE:MCD) by 11.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,601 shares of the fast-food giant’s stock after purchasing an additional 1,447 shares during the quarter. Essex Financial Services Inc.’s holdings in McDonald’s were worth $2,127,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Horan Capital Advisors LLC. bought a new stake in shares of McDonald’s in the third quarter valued at about $104,000. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of McDonald’s in the fourth quarter valued at about $109,000. Tarbox Family Office Inc. lifted its stake in shares of McDonald’s by 105.8% in the fourth quarter. Tarbox Family Office Inc. now owns 638 shares of the fast-food giant’s stock valued at $110,000 after buying an additional 328 shares during the period. Horan Capital Management bought a new stake in shares of McDonald’s in the fourth quarter valued at about $110,000. Finally, Certified Advisory Corp bought a new stake in shares of McDonald’s in the fourth quarter valued at about $121,000. 67.90% of the stock is currently owned by institutional investors.
In other news, insider Douglas M. Goare sold 13,255 shares of McDonald’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $165.40, for a total value of $2,192,377.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin M. Ozan sold 18,636 shares of McDonald’s stock in a transaction that occurred on Tuesday, May 1st. The shares were 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 of the company’s stock, valued at approximately $4,937,562. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.
McDonald’s opened at $161.31 on Friday, Marketbeat reports. McDonald’s has a 1 year low of $162.00 and a 1 year high of $163.94. The company has a debt-to-equity ratio of -6.54, a current ratio of 1.74 and a quick ratio of 1.72. The company has a market capitalization of $127.88 billion, a PE ratio of 23.30, a PEG ratio of 2.40 and a beta of 0.63.
McDonald’s (NYSE:MCD) last posted its earnings results on Monday, April 30th. The fast-food giant reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.12. McDonald’s had a net margin of 24.02% and a negative return on equity of 167.80%. The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the previous year, the company posted $1.47 earnings per share. McDonald’s’s quarterly revenue was down 9.5% compared to the same quarter last year. sell-side analysts anticipate that McDonald’s will post 7.66 EPS for the current year.
Several research firms recently weighed in on MCD. ValuEngine cut shares of McDonald’s from a “buy” rating to a “hold” rating in a research note on Wednesday. Goldman Sachs set a $185.00 target price on shares of McDonald’s and gave the company a “buy” rating in a research note on Tuesday, May 8th. Barclays reiterated a “buy” rating and issued a $204.00 target price on shares of McDonald’s in a research note on Wednesday, May 2nd. Bank of America set a $190.00 target price on shares of McDonald’s and gave the company a “buy” rating in a research note on Tuesday, May 1st. Finally, Royal Bank of Canada upgraded shares of McDonald’s to an “outperform” rating and set a $175.00 target price for the company in a research note on Tuesday, May 1st. Nine analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $184.03.
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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