McDonald’s Co. (NYSE:MCD) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. cut its stake in McDonald’s Co. (NYSE:MCD) by 40.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,227 shares of the fast-food giant’s stock after selling 5,489 shares during the period. Hodges Capital Management Inc.’s holdings in McDonald’s were worth $2,505,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MCD. Occidental Asset Management LLC boosted its stake in McDonald’s by 21.9% in the 2nd quarter. Occidental Asset Management LLC now owns 1,390 shares of the fast-food giant’s stock worth $354,000 after purchasing an additional 250 shares in the last quarter. Cooper Financial Group lifted its stake in McDonald’s by 35.9% during the 2nd quarter. Cooper Financial Group now owns 3,378 shares of the fast-food giant’s stock valued at $861,000 after acquiring an additional 892 shares during the period. Noble Family Wealth LLC lifted its stake in McDonald’s by 10.2% during the 2nd quarter. Noble Family Wealth LLC now owns 1,620 shares of the fast-food giant’s stock valued at $413,000 after acquiring an additional 150 shares during the period. Bbjs Financial Advisors LLC acquired a new stake in McDonald’s during the 2nd quarter valued at approximately $65,000. Finally, Gemmer Asset Management LLC lifted its stake in McDonald’s by 8.8% during the 2nd quarter. Gemmer Asset Management LLC now owns 1,120 shares of the fast-food giant’s stock valued at $285,000 after acquiring an additional 91 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $298.98 on Monday. The firm has a market cap of $214.26 billion, a PE ratio of 26.25, a PEG ratio of 3.98 and a beta of 0.73. The firm has a fifty day moving average of $299.43 and a 200 day moving average of $279.99. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $6.82 billion. During the same quarter in the prior year, the firm earned $3.19 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts predict that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued 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 of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.37%. McDonald’s’s dividend payout ratio is presently 62.16%.

Wall Street Analysts Forecast Growth

Several analysts have commented on MCD shares. Evercore ISI lifted their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Tigress Financial lifted their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Citigroup lifted their price objective on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Baird R W cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group boosted their target price on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and a consensus target price of $319.64.

Insider Transactions at McDonald’s

In other news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. The trade was a 49.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $292.50, for a total transaction of $321,457.50. Following the transaction, the insider now directly owns 9,286 shares in the company, valued at approximately $2,716,155. The trade was a 10.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,099 shares of company stock valued at $10,273,786 over the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

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.