Nixon Peabody Trust Co. Trims Stake in McDonald’s Co. (NYSE:MCD)

Nixon Peabody Trust Co. lessened its position in shares of McDonald’s Co. (NYSE:MCD) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,318 shares of the fast-food giant’s stock after selling 108 shares during the quarter. Nixon Peabody Trust Co.’s holdings in McDonald’s were worth $1,010,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hantz Financial Services Inc. purchased a new stake in McDonald’s in the 2nd quarter worth approximately $6,612,000. Kennebec Savings Bank acquired a new position in shares of McDonald’s during the 3rd quarter worth about $1,394,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in McDonald’s by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after buying an additional 51,210 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in McDonald’s by 6.5% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after buying an additional 2,997 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. increased its stake in McDonald’s by 17.1% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 49,318 shares of the fast-food giant’s stock worth $15,018,000 after buying an additional 7,200 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the sale, the insider now owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. The trade was a 9.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. The trade was a 48.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,596 shares of company stock valued at $10,698,289 in the last ninety days. 0.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. UBS Group raised their target price on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group upped their price objective on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. TD Cowen restated a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a research report on Tuesday, October 29th. Finally, Stifel Nicolaus lowered their price target on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $319.46.

McDonald’s Price Performance

Shares of NYSE MCD traded up $1.98 during midday trading on Monday, hitting $294.61. 308,493 shares of the company’s stock were exchanged, compared to its average volume of 3,495,115. The firm’s fifty day simple moving average is $300.06 and its 200-day simple moving average is $277.48. The company has a market cap of $211.12 billion, a PE ratio of 25.69, a P/E/G ratio of 3.89 and a beta of 0.74. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the prior year, the business posted $3.19 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is currently 58.65%.

McDonald’s 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.