CX Institutional Reduces Holdings in McDonald’s Co. (NYSE:MCD)

CX Institutional lowered its position in McDonald’s Co. (NYSE:MCD) by 8.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,307 shares of the fast-food giant’s stock after selling 1,483 shares during the quarter. CX Institutional’s holdings in McDonald’s were worth $4,156,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in McDonald’s during the 4th quarter valued at about $2,684,899,000. Gallagher Fiduciary Advisors LLC grew its holdings in McDonald’s by 141,160.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after acquiring an additional 5,609,736 shares in the last quarter. Capital Research Global Investors increased its position in McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after purchasing an additional 2,193,769 shares during the period. Swedbank AB bought a new stake in shares of McDonald’s in the 1st quarter valued at about $348,206,000. Finally, Capital World Investors boosted 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. Institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,099 shares of the business’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 owns 13,681 shares in the company, valued at $3,557,060. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’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 sale, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,794 shares of company stock worth $1,234,491. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

NYSE MCD opened at $269.91 on Friday. The company has a market cap of $194.52 billion, a P/E ratio of 23.02, a P/E/G ratio of 3.58 and a beta of 0.71. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $302.39. The stock has a 50-day moving average of $257.23 and a two-hundred day moving average of $272.22.

McDonald’s (NYSE:MCD) last announced 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). The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.92%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $3.17 EPS. On average, analysts anticipate that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio is presently 56.71%.

Analysts Set New Price Targets

Several research analysts recently weighed in on MCD shares. Stifel Nicolaus dropped their target price on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Robert W. Baird cut their price target on shares of McDonald’s from $305.00 to $300.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. The Goldman Sachs Group initiated coverage on shares of McDonald’s in a research note on Thursday, June 13th. They set a “neutral” rating and a $288.00 price objective for the company. Loop Capital reduced their target price on McDonald’s from $357.00 to $342.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $303.00.

About McDonald’s

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.