Hixon Zuercher LLC Sells 5,386 Shares of McDonald’s Co. (NYSE:MCD)

Hixon Zuercher LLC cut its position in shares of McDonald’s Co. (NYSE:MCD) by 39.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,140 shares of the fast-food giant’s stock after selling 5,386 shares during the quarter. Hixon Zuercher LLC’s holdings in McDonald’s were worth $2,479,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in shares of McDonald’s by 31,151.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after acquiring an additional 2,311,721 shares in the last quarter. Capital Research Global Investors grew its holdings in McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after purchasing an additional 2,193,769 shares during the period. Swedbank AB bought a new position in shares of McDonald’s during the first quarter valued at approximately $348,206,000. Capital World Investors increased its stake in shares of McDonald’s by 39.7% during the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after purchasing an additional 1,012,534 shares in the last quarter. Finally, Mondrian Investment Partners LTD purchased a new position in shares of McDonald’s during the second quarter valued at approximately $110,321,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. KeyCorp raised their price objective on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Wedbush restated an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a report on Wednesday, October 23rd. Jefferies Financial Group lifted their price target on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Bank of America increased their price objective on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their target price on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’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 transaction of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,596 shares of company stock valued at $10,698,289 over the last quarter. 0.23% of the stock is currently owned by company insiders.

McDonald’s Trading Up 1.5 %

Shares of NYSE MCD opened at $297.19 on Wednesday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The firm has a market capitalization of $213.19 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 3.92 and a beta of 0.74. The firm has a 50 day moving average of $298.60 and a 200 day moving average of $276.23.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the previous year, the firm posted $3.19 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts predict that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.38%. McDonald’s’s dividend payout ratio is presently 58.65%.

McDonald’s Company 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.