Axxcess Wealth Management LLC Sells 2,110 Shares of McDonald’s Co. (NYSE:MCD)

Axxcess Wealth Management LLC cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 7.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 25,592 shares of the fast-food giant’s stock after selling 2,110 shares during the period. Axxcess Wealth Management LLC’s holdings in McDonald’s were worth $6,522,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in McDonald’s by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock valued at $20,473,811,000 after acquiring an additional 599,745 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of McDonald’s by 15.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after purchasing an additional 987,099 shares during the last quarter. Gallagher Fiduciary Advisors LLC raised its holdings in shares of McDonald’s by 141,160.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after buying an additional 5,609,736 shares in the last quarter. Capital Research Global Investors lifted its position in McDonald’s by 66.9% in the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after buying an additional 2,193,769 shares during the last quarter. Finally, Capital World Investors boosted its stake in McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after buying an additional 1,012,534 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at $3,842,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the sale, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,291 shares of company stock valued at $1,689,073. 0.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wedbush reissued an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a research note on Monday, July 29th. Loop Capital restated a “buy” rating and set a $342.00 price target on shares of McDonald’s in a research report on Tuesday, September 10th. Evercore ISI boosted their target price on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. The Goldman Sachs Group assumed coverage on McDonald’s in a research note on Thursday, June 13th. They issued a “neutral” rating and a $288.00 price target on the stock. Finally, Tigress Financial increased their price objective on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $306.11.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $296.66 on Tuesday. The company has a 50 day simple moving average of $273.87 and a two-hundred day simple moving average of $270.50. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $302.39. The company has a market capitalization of $213.80 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (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 178.68%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the previous year, the firm posted $3.17 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. On average, analysts forecast that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s payout ratio is 56.71%.

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.