Caxton Associates LP Reduces Position in McDonald’s Co. (NYSE:MCD)

Caxton Associates LP lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 15.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,816 shares of the fast-food giant’s stock after selling 497 shares during the quarter. Caxton Associates LP’s holdings in McDonald’s were worth $718,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s during the first quarter valued at approximately $28,000. Clear Investment Research LLC bought a new stake in shares of McDonald’s during the fourth quarter valued at approximately $38,000. Kings Path Partners LLC bought a new stake in shares of McDonald’s during the second quarter valued at approximately $38,000. Accent Capital Management LLC bought a new stake in shares of McDonald’s during the fourth quarter valued at approximately $44,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of McDonald’s during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. The disclosure for this sale can be found here. Insiders have sold 23,958 shares of company stock valued at $7,032,111 over the last ninety days. 0.23% of the stock is currently owned by insiders.

McDonald’s Price Performance

Shares of MCD opened at $303.65 on Friday. The firm has a market capitalization of $217.82 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 3.99 and a beta of 0.72. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $304.29. The company’s fifty day moving average price is $279.90 and its 200-day moving average price is $270.89.

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 company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. McDonald’s’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the firm earned $3.17 earnings per share. As a group, research analysts anticipate that McDonald’s Co. will post 11.69 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. TD Cowen reaffirmed a “hold” rating and set a $280.00 price target on shares of McDonald’s in a research note on Monday. Truist Financial decreased their price target on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Tigress Financial lifted their price target on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Jefferies Financial Group boosted their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $308.22.

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.