Cox Capital Mgt LLC Sells 309 Shares of McDonald’s Co. (NYSE:MCD)

Cox Capital Mgt LLC lessened its position in McDonald’s Co. (NYSE:MCD) by 4.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,832 shares of the fast-food giant’s stock after selling 309 shares during the period. Cox Capital Mgt LLC’s holdings in McDonald’s were worth $1,741,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MCD. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s during the 1st quarter valued at about $28,000. Signature Resources Capital Management LLC purchased a new position in shares of McDonald’s during the fourth quarter valued at about $31,000. Clear Investment Research LLC purchased a new position in shares of McDonald’s during the fourth quarter valued at about $38,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of McDonald’s during the fourth quarter valued at about $39,000. Finally, Bear Mountain Capital Inc. purchased a new position in shares of McDonald’s during the fourth quarter valued at about $43,000. Institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total value of $291,377.87. Following the completion of the sale, the insider now directly owns 15,878 shares of the company’s stock, valued at $4,209,734.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the transaction, the insider now owns 14,780 shares in the company, valued at $3,842,800. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total transaction of $291,377.87. Following the transaction, the insider now owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,794 shares of company stock valued at $1,234,491. Insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

McDonald’s stock traded up $0.85 during midday trading on Tuesday, reaching $270.31. 2,603,261 shares of the company traded hands, compared to its average volume of 3,586,223. The firm has a market capitalization of $194.81 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 3.58 and a beta of 0.71. The business has a 50 day moving average of $257.76 and a two-hundred day moving average of $271.26. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39.

McDonald’s (NYSE:MCD) last announced 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). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.92%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the prior year, the company posted $3.17 earnings per share. The firm’s quarterly revenue was down .1% on a year-over-year basis. As a group, equities analysts forecast that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.47%. McDonald’s’s dividend payout ratio is currently 56.71%.

Analyst Upgrades and Downgrades

MCD has been the topic of several research analyst reports. Jefferies Financial Group reduced their price target on shares of McDonald’s from $320.00 to $310.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. Barclays reduced their price target on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Stifel Nicolaus dropped their price objective on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. TD Cowen lowered shares of McDonald’s from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $285.00 to $280.00 in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group started coverage on shares of McDonald’s in a research note on Thursday, June 13th. They set a “neutral” rating and a $288.00 price objective on the stock. Eleven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $303.00.

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.