Hixon Zuercher LLC Sells 2,955 Shares of McDonald’s Corporation $MCD

Hixon Zuercher LLC decreased its position in shares of McDonald’s Corporation (NYSE:MCD) by 36.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,087 shares of the fast-food giant’s stock after selling 2,955 shares during the period. Hixon Zuercher LLC’s holdings in McDonald’s were worth $1,486,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MCD. HFM Investment Advisors LLC bought a new position in shares of McDonald’s in the 1st quarter valued at $26,000. Nova Wealth Management Inc. acquired a new stake in McDonald’s in the first quarter valued at about $26,000. GFG Capital LLC bought a new position in McDonald’s in the second quarter valued at about $29,000. Abound Financial LLC bought a new position in McDonald’s in the first quarter valued at about $30,000. Finally, Redmont Wealth Advisors LLC acquired a new position in McDonald’s during the first quarter worth about $31,000. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling at McDonald’s

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the transaction, the executive vice president owned 99 shares in the company, valued at approximately $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,463 shares of company stock valued at $1,692,186. Company insiders own 0.25% of the company’s stock.

McDonald’s Stock Down 0.3%

MCD opened at $306.05 on Friday. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The company has a fifty day moving average of $306.49 and a 200-day moving average of $305.65. The stock has a market cap of $218.39 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.97 earnings per share. Sell-side analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $1.86 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. McDonald’s’s payout ratio is currently 60.67%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MCD. Melius initiated coverage on shares of McDonald’s in a report on Monday, July 14th. They set a “sell” rating and a $250.00 price target on the stock. Bank of America decreased their target price on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a research note on Friday, July 18th. Piper Sandler reiterated a “neutral” rating and set a $325.00 price target on shares of McDonald’s in a report on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of McDonald’s in a report on Wednesday, October 8th. Finally, Morgan Stanley set a $335.00 price objective on McDonald’s in a research report on Friday, October 17th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, McDonald’s presently has an average rating of “Hold” and an average target price of $324.50.

McDonald’s 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.