Cypress Capital Group Has $7.84 Million Stake in McDonald’s Co. (NYSE:MCD)

Cypress Capital Group reduced its stake in McDonald’s Co. (NYSE:MCD) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,747 shares of the fast-food giant’s stock after selling 692 shares during the period. McDonald’s comprises approximately 0.9% of Cypress Capital Group’s investment portfolio, making the stock its 26th largest position. Cypress Capital Group’s holdings in McDonald’s were worth $7,840,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quent Capital LLC lifted its stake in shares of McDonald’s by 10.4% in the 1st quarter. Quent Capital LLC now owns 3,006 shares of the fast-food giant’s stock valued at $848,000 after acquiring an additional 282 shares during the last quarter. Rodgers Brothers Inc. raised its position in McDonald’s by 53.3% in the first quarter. Rodgers Brothers Inc. now owns 1,869 shares of the fast-food giant’s stock valued at $527,000 after purchasing an additional 650 shares during the last quarter. Capital Group Investment Management PTE. LTD. raised its position in McDonald’s by 102.8% in the first quarter. Capital Group Investment Management PTE. LTD. now owns 3,635 shares of the fast-food giant’s stock valued at $1,025,000 after purchasing an additional 1,843 shares during the last quarter. Capital International Inc. CA boosted its stake in shares of McDonald’s by 122.5% during the first quarter. Capital International Inc. CA now owns 19,089 shares of the fast-food giant’s stock valued at $5,382,000 after purchasing an additional 10,510 shares in the last quarter. Finally, Capital International Sarl grew its holdings in shares of McDonald’s by 120.8% during the first quarter. Capital International Sarl now owns 20,882 shares of the fast-food giant’s stock worth $5,888,000 after purchasing an additional 11,425 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were 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 of the company’s stock, valued at approximately $3,632,712.10. This represents a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s 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 directly owns 1,560 shares of the company’s stock, valued at $446,721.60. The trade was a 48.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,596 shares of company stock worth $10,698,289 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Citigroup raised their target price on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Tigress Financial raised their price objective on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. 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 research note on Tuesday, July 30th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

McDonald’s Trading Up 0.1 %

McDonald’s stock opened at $290.89 on Thursday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The firm has a market capitalization of $208.46 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 3.87 and a beta of 0.74. The firm’s 50 day simple moving average is $300.06 and its 200 day simple moving average is $277.84.

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, topping analysts’ consensus estimates of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.19 earnings per share. Research analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.43%. 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. McDonald’s’s dividend payout ratio is currently 58.65%.

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.