Millennium Management LLC Trims Stake in McDonald’s Co. (MCD)

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Millennium Management LLC trimmed its position in McDonald’s Co. (NYSE:MCD) by 46.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 731,669 shares of the fast-food giant’s stock after selling 626,640 shares during the quarter. Millennium Management LLC owned about 0.09% of McDonald’s worth $114,418,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Rainier Group Investment Advisory LLC bought a new stake in shares of McDonald’s in the first quarter worth about $102,000. Elmwood Wealth Management Inc. bought a new stake in shares of McDonald’s in the first quarter worth about $104,000. Pinnacle Wealth Planning Services Inc. bought a new stake in McDonald’s during the fourth quarter worth approximately $109,000. Tarbox Family Office Inc. increased its stake in McDonald’s by 105.8% during the fourth quarter. Tarbox Family Office Inc. now owns 638 shares of the fast-food giant’s stock worth $110,000 after acquiring an additional 328 shares during the last quarter. Finally, Horan Capital Management bought a new stake in McDonald’s during the fourth quarter worth approximately $110,000. 67.26% of the stock is currently owned by hedge funds and other institutional investors.

Shares of McDonald’s opened at $156.69 on Friday, according to Marketbeat. The company has a quick ratio of 1.72, a current ratio of 1.74 and a debt-to-equity ratio of -6.54. The company has a market capitalization of $123.60 billion, a P/E ratio of 23.53, a PEG ratio of 2.32 and a beta of 0.63. McDonald’s Co. has a 52-week low of $146.84 and a 52-week high of $178.70.

McDonald’s (NYSE:MCD) last announced its quarterly 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. The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $4.97 billion. McDonald’s had a negative return on equity of 167.80% and a net margin of 24.02%. McDonald’s’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.47 earnings per share. analysts anticipate that McDonald’s Co. will post 7.68 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, June 18th. Investors of record on Monday, June 4th were issued a $1.01 dividend. The ex-dividend date of this dividend was Friday, June 1st. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.58%. McDonald’s’s payout ratio is 60.66%.

Several brokerages have weighed in on MCD. Morgan Stanley reduced their price objective on McDonald’s from $184.00 to $169.00 and set a “neutral” rating on the stock in a research note on Monday, March 26th. BMO Capital Markets reissued a “buy” rating and set a $190.00 price objective on shares of McDonald’s in a research note on Monday, March 12th. Stifel Nicolaus boosted their price objective on McDonald’s from $165.00 to $168.00 and gave the stock a “hold” rating in a research note on Tuesday, May 1st. JPMorgan Chase & Co. reissued a “buy” rating and set a $182.00 price objective on shares of McDonald’s in a research note on Monday, March 12th. Finally, ValuEngine cut McDonald’s from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. Nine equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. McDonald’s has an average rating of “Buy” and an average target price of $184.00.

In related news, EVP Kevin M. Ozan sold 18,636 shares of the business’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $165.69, for a total value of $3,087,798.84. Following the completion of the sale, the executive vice president now owns 29,800 shares in the company, valued at $4,937,562. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas M. Goare sold 13,255 shares of the business’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 disclosure for this sale can be found here. 0.22% of the stock is currently owned by 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, 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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Institutional Ownership by Quarter for McDonald`s (NYSE:MCD)

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