McDonald’s Co. (NYSE:MCD) Shares Sold by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC cut its holdings in McDonald’s Co. (NYSE:MCD) by 17.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,867 shares of the fast-food giant’s stock after selling 839 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in McDonald’s were worth $1,031,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MCD. Norges Bank purchased a new stake in shares of McDonald’s in the 4th quarter worth about $2,684,899,000. Gallagher Fiduciary Advisors LLC boosted its position in shares of McDonald’s by 141,160.9% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after buying an additional 5,609,736 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in McDonald’s by 10,702.5% in the 4th quarter. International Assets Investment Management LLC now owns 2,174,426 shares of the fast-food giant’s stock valued at $644,739,000 after purchasing an additional 2,154,297 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in McDonald’s by 15.5% in 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 in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in McDonald’s by 552.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 791,639 shares of the fast-food giant’s stock valued at $234,729,000 after purchasing an additional 670,261 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on MCD. UBS Group reduced their target price on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Wedbush reduced their target price on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Morgan Stanley reduced their target price on shares of McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. TD Cowen restated a “buy” rating and issued a $305.00 target price on shares of McDonald’s in a report on Thursday, June 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of McDonald’s from $290.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, June 3rd. Ten equities 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, McDonald’s has an average rating of “Moderate Buy” and an average target price of $315.14.

McDonald’s Stock Down 1.3 %

Shares of NYSE:MCD opened at $254.79 on Friday. McDonald’s Co. has a 52-week low of $245.73 and a 52-week high of $302.39. The company has a 50 day moving average of $263.31 and a two-hundred day moving average of $279.28. The company has a market capitalization of $183.62 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 2.91 and a beta of 0.71.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same period in the previous year, the business posted $2.63 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities analysts anticipate that McDonald’s Co. will post 12.19 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Monday, June 3rd. McDonald’s’s payout ratio is currently 56.71%.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s 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 transaction, the insider now owns 15,878 shares of the company’s stock, valued at $4,209,734.14. The transaction was disclosed in a filing 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 Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the transaction, the insider now directly owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,095 shares of company stock valued at $1,100,625. 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.