Cox Capital Mgt LLC Reduces Stock Position in McDonald’s Co. (NYSE:MCD)

Cox Capital Mgt LLC trimmed its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,713 shares of the fast-food giant’s stock after selling 119 shares during the quarter. Cox Capital Mgt LLC’s holdings in McDonald’s were worth $2,044,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MCD. Hantz Financial Services Inc. purchased a new position in McDonald’s during the second quarter worth $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of McDonald’s by 58.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after buying an additional 51,210 shares during the period. BNP Paribas bought a new stake in shares of McDonald’s during the 1st quarter worth approximately $7,898,000. First Long Island Investors LLC boosted its holdings in McDonald’s by 16.6% during the 1st quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock valued at $15,231,000 after acquiring an additional 7,707 shares during the period. Finally, Lloyd Advisory Services LLC. grew its position in McDonald’s by 504.6% in the 1st quarter. Lloyd Advisory Services LLC. now owns 9,165 shares of the fast-food giant’s stock valued at $2,584,000 after acquiring an additional 7,649 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MCD shares. Robert W. Baird lifted their price objective on shares of McDonald’s from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. UBS Group increased their price target on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI increased their target price on shares of McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Tigress Financial increased their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $310.50.

Insider Transactions at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the transaction, the insider now directly owns 13,681 shares in the company, valued at approximately $3,557,060. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares in the company, valued at approximately $3,557,060. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,751 shares of company stock valued at $9,493,973 in the last three months. 0.23% of the stock is currently owned by company insiders.

McDonald’s Price Performance

NYSE:MCD traded up $1.00 during trading hours on Friday, reaching $305.04. The company had a trading volume of 1,775,710 shares, compared to its average volume of 3,376,543. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $306.96. The business’s 50 day moving average price is $290.21 and its 200-day moving average price is $272.60. The firm has a market cap of $218.82 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the firm posted $3.17 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. On average, analysts expect that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.32%. McDonald’s’s payout ratio is 58.44%.

McDonald’s Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.