Mcdonald’s Corp (NYSE:MCD) Stake Lessened by Jennison Associates LLC

Jennison Associates LLC cut its stake in Mcdonald’s Corp (NYSE:MCD) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 560,457 shares of the fast-food giant’s stock after selling 10,508 shares during the period. Jennison Associates LLC’s holdings in Mcdonald’s were worth $116,385,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Mcdonald’s by 0.3% in the first quarter. FMR LLC now owns 21,416,684 shares of the fast-food giant’s stock valued at $4,067,029,000 after acquiring an additional 59,931 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Mcdonald’s by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 9,441,973 shares of the fast-food giant’s stock valued at $1,673,764,000 after acquiring an additional 683,872 shares in the last quarter. Norges Bank acquired a new stake in Mcdonald’s during the fourth quarter valued at approximately $1,326,793,000. Janus Henderson Group PLC lifted its stake in Mcdonald’s by 1.9% during the second quarter. Janus Henderson Group PLC now owns 5,549,855 shares of the fast-food giant’s stock valued at $1,152,473,000 after purchasing an additional 104,026 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Mcdonald’s by 6.4% during the fourth quarter. Legal & General Group Plc now owns 4,006,305 shares of the fast-food giant’s stock valued at $711,332,000 after purchasing an additional 242,661 shares during the last quarter. Institutional investors and hedge funds own 68.25% of the company’s stock.

Shares of NYSE:MCD traded down $4.83 during mid-day trading on Friday, hitting $214.66. The stock had a trading volume of 2,868,462 shares, compared to its average volume of 3,210,207. The company has a market cap of $166.69 billion, a PE ratio of 27.17, a P/E/G ratio of 3.26 and a beta of 0.49. Mcdonald’s Corp has a 12-month low of $156.56 and a 12-month high of $221.93. The company’s 50 day moving average is $215.17 and its 200-day moving average is $198.22.

Mcdonald’s (NYSE:MCD) last issued its quarterly earnings results 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). The firm had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.34 billion. Mcdonald’s had a net margin of 28.32% and a negative return on equity of 92.02%. The firm’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the company posted $1.99 EPS. As a group, equities research analysts anticipate that Mcdonald’s Corp will post 8.01 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a $1.16 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $4.64 annualized dividend and a dividend yield of 2.16%. Mcdonald’s’s dividend payout ratio (DPR) is presently 58.73%.

MCD has been the subject of several recent research reports. Evercore ISI initiated coverage on shares of Mcdonald’s in a research note on Tuesday, June 11th. They set an “outperform” rating and a $225.00 target price for the company. Telsey Advisory Group reissued an “outperform” rating and set a $230.00 target price (up from $210.00) on shares of Mcdonald’s in a research note on Monday, July 15th. BTIG Research increased their target price on shares of Mcdonald’s to $220.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Piper Jaffray Companies increased their target price on shares of Mcdonald’s from $209.00 to $226.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Sanford C. Bernstein reissued a “buy” rating on shares of Mcdonald’s in a research note on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $220.55.

In related news, EVP Silvia Lagnado sold 26,649 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $212.58, for a total value of $5,665,044.42. Following the completion of the sale, the executive vice president now owns 40,129 shares in the company, valued at approximately $8,530,622.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Catherine A. Hoovel sold 457 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were 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 owns 1,348 shares of the company’s stock, valued at approximately $294,066.20. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

About Mcdonald’s

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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