Westchester Capital Management Inc. Decreases Stake in Mcdonald’s Corp (NYSE:MCD)

Westchester Capital Management Inc. lowered its position in shares of Mcdonald’s Corp (NYSE:MCD) by 0.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 50,445 shares of the fast-food giant’s stock after selling 280 shares during the quarter. Mcdonald’s comprises approximately 4.2% of Westchester Capital Management Inc.’s holdings, making the stock its 11th largest holding. Westchester Capital Management Inc.’s holdings in Mcdonald’s were worth $10,831,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Lavaca Capital LLC boosted its holdings in Mcdonald’s by 4.8% in the 3rd quarter. Lavaca Capital LLC now owns 26,889 shares of the fast-food giant’s stock worth $5,773,000 after acquiring an additional 1,241 shares during the period. Arthur M. Cohen & Associates LLC boosted its holdings in Mcdonald’s by 35.8% in the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 6,050 shares of the fast-food giant’s stock worth $1,299,000 after acquiring an additional 1,595 shares during the period. Lakeview Capital Partners LLC boosted its holdings in Mcdonald’s by 3.7% in the 3rd quarter. Lakeview Capital Partners LLC now owns 3,462 shares of the fast-food giant’s stock worth $743,000 after acquiring an additional 124 shares during the period. Private Ocean LLC boosted its holdings in Mcdonald’s by 12.2% in the 3rd quarter. Private Ocean LLC now owns 6,958 shares of the fast-food giant’s stock worth $1,494,000 after acquiring an additional 758 shares during the period. Finally, Gamble Jones Investment Counsel boosted its holdings in Mcdonald’s by 2.0% in the 3rd quarter. Gamble Jones Investment Counsel now owns 66,930 shares of the fast-food giant’s stock worth $14,371,000 after acquiring an additional 1,315 shares during the period. Institutional investors and hedge funds own 67.91% of the company’s stock.

In related news, Director John J. Mulligan bought 1,300 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were purchased at an average cost of $193.46 per share, with a total value of $251,498.00. Following the completion of the transaction, the director now directly owns 2,900 shares of the company’s stock, valued at $561,034. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Catherine A. Hoovel sold 457 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $218.15, for a total value of $99,694.55. Following the completion of the sale, the vice president now directly owns 1,348 shares in the company, valued at $294,066.20. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Shares of MCD stock traded up $0.53 on Friday, hitting $193.61. 3,457,071 shares of the stock traded hands, compared to its average volume of 3,371,192. The company has a market capitalization of $144.73 billion, a PE ratio of 24.51, a PEG ratio of 3.04 and a beta of 0.48. Mcdonald’s Corp has a 1-year low of $169.04 and a 1-year high of $221.93. The company’s fifty day moving average is $204.71 and its 200 day moving average is $207.29.

Mcdonald’s (NYSE:MCD) last posted 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). The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.47 billion. Mcdonald’s had a net margin of 28.09% and a negative return on equity of 85.71%. The business’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.10 earnings per share. On average, analysts predict that Mcdonald’s Corp will post 7.87 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given 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 dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, November 29th. Mcdonald’s’s dividend payout ratio is currently 58.73%.

A number of research firms have weighed in on MCD. Citigroup decreased their price target on Mcdonald’s from $221.00 to $216.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Robert W. Baird reduced their target price on Mcdonald’s from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. Mizuho increased their target price on Mcdonald’s from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Stephens set a $230.00 target price on Mcdonald’s and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Barclays set a $230.00 target price on Mcdonald’s and gave the company a “buy” rating in a research note on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $222.96.

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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Institutional Ownership by Quarter for Mcdonald`s (NYSE:MCD)

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