DAVENPORT & Co LLC Sells 5,047 Shares of McDonald's Co. (NYSE:MCD)

DAVENPORT & Co LLC cut its holdings in shares of McDonald's Co. (NYSE:MCD) by 1.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 378,285 shares of the fast-food giant’s stock after selling 5,047 shares during the period. DAVENPORT & Co LLC owned 0.05% of McDonald's worth $83,030,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MCD. Public Employees Retirement Association of Colorado boosted its stake in shares of McDonald's by 4.4% during the first quarter. Public Employees Retirement Association of Colorado now owns 141,845 shares of the fast-food giant’s stock valued at $23,454,000 after purchasing an additional 5,915 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in McDonald's by 2.2% during the first quarter. Loomis Sayles & Co. L P now owns 11,552 shares of the fast-food giant’s stock valued at $1,910,000 after acquiring an additional 250 shares during the last quarter. Cohen & Steers Inc. purchased a new stake in McDonald's during the first quarter valued at approximately $162,000. Quantitative Investment Management LLC purchased a new stake in McDonald's during the first quarter valued at approximately $750,000. Finally, APG Asset Management N.V. lifted its position in McDonald's by 32.4% during the first quarter. APG Asset Management N.V. now owns 3,041,874 shares of the fast-food giant’s stock valued at $502,974,000 after acquiring an additional 743,607 shares during the last quarter. Hedge funds and other institutional investors own 66.07% of the company’s stock.

A number of equities research analysts recently commented on the stock. UBS Group increased their target price on shares of McDonald's from $215.00 to $230.00 and gave the company a “neutral” rating in a research report on Monday, September 14th. Wells Fargo & Company increased their target price on shares of McDonald's from $222.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, October 1st. Bank of America increased their target price on shares of McDonald's from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, October 5th. Truist increased their target price on shares of McDonald's from $212.00 to $246.00 in a research report on Friday, October 9th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of McDonald's in a report on Tuesday, July 28th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. McDonald's currently has an average rating of “Buy” and a consensus price target of $222.43.

MCD stock opened at $229.37 on Friday. The firm has a market cap of $170.67 billion, a PE ratio of 36.35, a P/E/G ratio of 5.25 and a beta of 0.67. The firm’s fifty day moving average is $219.28 and its 200 day moving average is $196.08. McDonald's Co. has a one year low of $124.23 and a one year high of $231.91.

McDonald's (NYSE:MCD) last released its quarterly earnings results on Tuesday, July 28th. The fast-food giant reported $0.66 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.10). The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.73 billion. McDonald's had a net margin of 24.78% and a negative return on equity of 52.78%. The firm’s quarterly revenue was down 29.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.05 EPS. Research analysts predict that McDonald's Co. will post 5.96 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Monday, November 30th. This is a positive change from McDonald's’s previous quarterly dividend of $1.25. McDonald's’s dividend payout ratio (DPR) is currently 63.78%.

McDonald's Profile

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products and beverages, as well as breakfast menu. As of December 31, 2019, the company operated 38,695 restaurants. McDonald's Corporation was founded in 1940 and is based in Chicago, Illinois.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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