Cape Cod Five Cents Savings Bank Cuts Stake in McDonald’s Co. (NYSE:MCD)

Cape Cod Five Cents Savings Bank lessened its stake in McDonald’s Co. (NYSE:MCD) by 0.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 30,120 shares of the fast-food giant’s stock after selling 37 shares during the quarter. McDonald’s accounts for approximately 0.9% of Cape Cod Five Cents Savings Bank’s holdings, making the stock its 27th largest position. Cape Cod Five Cents Savings Bank’s holdings in McDonald’s were worth $9,172,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Legacy Investment Solutions LLC purchased a new position in shares of McDonald’s during the third quarter valued at about $25,000. RPg Family Wealth Advisory LLC bought a new position in McDonald’s during the third quarter valued at approximately $31,000. Kings Path Partners LLC purchased a new position in McDonald’s during the 2nd quarter valued at approximately $38,000. Hara Capital LLC bought a new stake in McDonald’s in the 3rd quarter worth approximately $44,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of McDonald’s during the 3rd quarter worth approximately $58,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Price Performance

MCD opened at $298.98 on Monday. The firm has a market capitalization of $214.26 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 3.98 and a beta of 0.73. The business’s 50-day moving average is $299.43 and its two-hundred day moving average is $279.99. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. McDonald’s’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.19 EPS. As a group, sell-side analysts expect that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.37%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is 62.16%.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the transaction, the insider now owns 10,385 shares in the company, valued at approximately $3,036,366.30. This represents a 9.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction 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 owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The trade was a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,099 shares of company stock valued at $10,273,786 in the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MCD. Loop Capital reissued a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Citigroup increased their price target on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Barclays boosted their price objective on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group lifted their target price on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.64.

About McDonald’s

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.