CX Institutional Sells 16,466 Shares of McDonald's Corporation $MCD

Key Points

• CX Institutional reduced its stake in McDonald's Corporation by 56.5%, selling 16,466 shares and ending up with 12,668 shares valued at approximately $3.7 million.
• Several other institutional investors increased their holdings in McDonald's, including First American Trust FSB and Banque Transatlantique SA, which raised their stakes by 55.9% and 58.0%, respectively.
• McDonald's announced a quarterly dividend of $1.77 per share, representing an annualized dividend of $7.08 and a yield of 2.3%.

CX Institutional decreased its position in McDonald's Corporation (NYSE:MCD - Free Report) by 56.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,668 shares of the fast-food giant's stock after selling 16,466 shares during the period. CX Institutional's holdings in McDonald's were worth $3,701,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First American Trust FSB lifted its stake in shares of McDonald's by 55.9% in the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant's stock worth $11,532,000 after purchasing an additional 13,234 shares during the period. Banque Transatlantique SA increased its holdings in McDonald's by 58.0% in the 1st quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant's stock worth $71,829,000 after acquiring an additional 91,313 shares in the last quarter. Hamilton Capital LLC grew its holdings in McDonald's by 35.2% during the 1st quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant's stock valued at $982,000 after buying an additional 819 shares in the last quarter. Red Door Wealth Management LLC grew its holdings in McDonald's by 1.9% during the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant's stock valued at $1,788,000 after buying an additional 109 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in McDonald's by 5.6% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant's stock valued at $107,867,000 after buying an additional 18,393 shares in the last quarter. Institutional investors own 70.29% of the company's stock.

McDonald's Price Performance

Shares of NYSE:MCD opened at $302.30 on Friday. McDonald's Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The firm has a market capitalization of $215.72 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 3.08 and a beta of 0.50. The business's 50 day moving average price is $306.06 and its 200-day moving average price is $306.44.

McDonald's (NYSE:MCD - Get Free Report) last announced its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.15 by $0.04. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter last year, the firm posted $2.97 EPS. The business's revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts expect that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a dividend of $1.77 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. McDonald's's dividend payout ratio (DPR) is 60.67%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MCD. Loop Capital cut shares of McDonald's from a "buy" rating to a "hold" rating and reduced their price target for the stock from $346.00 to $315.00 in a research report on Friday, June 6th. Argus lowered shares of McDonald's from a "buy" rating to a "hold" rating in a research note on Friday, June 13th. Redburn Atlantic reissued a "sell" rating and set a $260.00 target price (down from $319.00) on shares of McDonald's in a research note on Tuesday, June 10th. Evercore ISI boosted their target price on shares of McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Melius started coverage on shares of McDonald's in a research note on Monday, July 14th. They issued a "sell" rating and a $250.00 price objective for the company. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $325.86.

Insiders Place Their Bets

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the transaction, the chief marketing officer owned 6,858 shares in the company, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the transaction, the executive vice president owned 8,754 shares in the company, valued at $2,713,740. The trade was a 22.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,341 shares of company stock worth $2,544,327. Corporate insiders own 0.25% of the company's stock.

McDonald's Company Profile

McDonald's Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.

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