Saxon Interests Inc. Decreases Position in McDonald’s Co. (NYSE:MCD)

Saxon Interests Inc. trimmed its stake in McDonald’s Co. (NYSE:MCD) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,264 shares of the fast-food giant’s stock after selling 87 shares during the period. Saxon Interests Inc.’s holdings in McDonald’s were worth $994,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s in the first quarter worth $28,000. Kings Path Partners LLC bought a new position in shares of McDonald’s during the 2nd quarter worth $38,000. Accent Capital Management LLC bought a new stake in McDonald’s during the 4th quarter valued at $44,000. Transcendent Capital Group LLC purchased a new position in shares of McDonald’s in the 4th quarter valued at $45,000. Finally, Keener Financial Planning LLC raised its position in shares of McDonald’s by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after acquiring an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

NYSE MCD traded up $1.54 on Wednesday, hitting $303.44. The company had a trading volume of 541,540 shares, compared to its average volume of 3,386,310. The company has a market capitalization of $218.68 billion, a PE ratio of 25.63, a PEG ratio of 3.99 and a beta of 0.73. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $306.96. The company’s fifty day moving average price is $288.17 and its 200-day moving average price is $271.98.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS 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 negative return on equity of 178.68% and a net margin of 32.25%. During the same period in the prior year, the firm earned $3.17 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.69 EPS for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.33%. McDonald’s’s payout ratio is currently 60.10%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MCD shares. Barclays dropped their price objective on McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. The Goldman Sachs Group raised their price target on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. BMO Capital Markets reduced their price objective on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Wedbush restated an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a research note on Monday, July 29th. Finally, Truist Financial reduced their price target on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Ten investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $310.12.

Insider Buying and Selling

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the transaction, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the sale, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,751 shares of company stock worth $9,493,973. 0.23% of the stock is owned by corporate insiders.

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.