Horizon Bancorp Inc. IN Cuts Stake in McDonald’s Co. (NYSE:MCD)

Horizon Bancorp Inc. IN lowered its stake in McDonald’s Co. (NYSE:MCD) by 19.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 481 shares of the fast-food giant’s stock after selling 115 shares during the period. Horizon Bancorp Inc. IN’s holdings in McDonald’s were worth $146,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in shares of McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after purchasing an additional 2,311,721 shares during the last quarter. Capital Research Global Investors boosted its position in McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after buying an additional 2,193,769 shares during the period. Swedbank AB purchased a new position in shares of McDonald’s in the first quarter valued at about $348,206,000. Capital World Investors raised its stake in shares of McDonald’s by 39.7% during the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after acquiring an additional 1,012,534 shares during the last quarter. Finally, Mondrian Investment Partners LTD bought a new stake in shares of McDonald’s in the second quarter worth about $110,321,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on MCD. Baird R W cut McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Evercore ISI boosted their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Jefferies Financial Group raised their target price on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Morgan Stanley boosted their price target on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, UBS Group raised their price objective on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Thirteen analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $318.22.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,097 shares of company stock valued at $10,256,818. 0.23% of the stock is currently owned by insiders.

McDonald’s Price Performance

Shares of MCD stock traded down $8.97 during trading hours on Friday, reaching $292.61. 8,863,234 shares of the company traded hands, compared to its average volume of 3,475,984. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The company has a market cap of $210.88 billion, a P/E ratio of 24.83, a P/E/G ratio of 4.13 and a beta of 0.73. The firm has a 50-day moving average price of $297.78 and a 200 day moving average price of $274.88.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the previous year, the firm earned $3.17 earnings per share. McDonald’s’s revenue was down .1% on a year-over-year basis. Sell-side analysts predict that McDonald’s Co. will post 11.73 EPS for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.42%. McDonald’s’s dividend payout ratio (DPR) is presently 60.10%.

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.