CX Institutional Acquires 10,733 Shares of McDonald’s Co. (NYSE:MCD)

CX Institutional raised its stake in shares of McDonald’s Co. (NYSE:MCD) by 65.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,040 shares of the fast-food giant’s stock after acquiring an additional 10,733 shares during the quarter. CX Institutional’s holdings in McDonald’s were worth $8,234,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Scarborough Advisors LLC bought a new stake in shares of McDonald’s in the 4th quarter valued at about $168,000. Confluence Investment Management LLC acquired a new stake in McDonald’s in the first quarter valued at approximately $23,560,000. Canandaigua National Bank & Trust Co. grew its holdings in McDonald’s by 0.9% in the first quarter. Canandaigua National Bank & Trust Co. now owns 32,344 shares of the fast-food giant’s stock worth $9,119,000 after purchasing an additional 274 shares during the last quarter. Park National Corp OH boosted its position in shares of McDonald’s by 10.4% in the 1st quarter. Park National Corp OH now owns 111,830 shares of the fast-food giant’s stock worth $31,530,000 after purchasing an additional 10,547 shares in the last quarter. Finally, Modus Advisors LLC increased its position in McDonald’s by 2.6% during the 1st quarter. Modus Advisors LLC now owns 9,910 shares of the fast-food giant’s stock valued at $2,794,000 after buying an additional 250 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 1.6 %

Shares of MCD opened at $310.05 on Tuesday. The firm’s fifty day moving average is $291.04 and its two-hundred day moving average is $272.69. The stock has a market cap of $223.45 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $310.42.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the prior year, the firm earned $3.17 earnings per share. The company’s revenue for the quarter was down .1% on a year-over-year basis. As a group, research analysts anticipate that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.28%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 60.10%.

Insider Buying and Selling at McDonald’s

In related news, CEO Christopher J. Kempczinski sold 9,291 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $305.00, for a total value of $2,833,755.00. Following the transaction, the chief executive officer now directly owns 43,256 shares in the company, valued at approximately $13,193,080. 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 link. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher J. Kempczinski sold 9,291 shares of McDonald’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $305.00, for a total value of $2,833,755.00. Following the completion of the transaction, the chief executive officer now owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,751 shares of company stock worth $9,493,973 in the last ninety days. 0.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MCD. BMO Capital Markets dropped their price target on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Barclays lowered their price objective on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. JPMorgan Chase & Co. upped their target price on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Citigroup increased their price objective on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus decreased their target price on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $310.50.

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.