Trust Asset Management LLC Sells 154 Shares of McDonald’s Corporation (NYSE:MCD)

Trust Asset Management LLC lessened its stake in shares of McDonald’s Corporation (NYSE:MCD) by 1.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,264 shares of the fast-food giant’s stock after selling 154 shares during the quarter. Trust Asset Management LLC’s holdings in McDonald’s were worth $2,581,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WealthPlan Investment Management LLC raised its holdings in shares of McDonald’s by 0.9% during the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock valued at $1,134,000 after purchasing an additional 32 shares during the period. Granite Bay Wealth Management LLC raised its holdings in shares of McDonald’s by 3.5% during the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant’s stock valued at $309,000 after purchasing an additional 33 shares during the period. CVA Family Office LLC raised its holdings in shares of McDonald’s by 1.9% during the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant’s stock valued at $560,000 after purchasing an additional 33 shares during the period. Consilium Wealth Advisory LLC raised its holdings in shares of McDonald’s by 2.5% during the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant’s stock valued at $417,000 after purchasing an additional 33 shares during the period. Finally, Security Financial Services INC. raised its holdings in shares of McDonald’s by 0.7% during the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock valued at $1,575,000 after purchasing an additional 33 shares during the period. Institutional investors own 70.29% of the company’s stock.

Insider Activity

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares of the company’s stock, valued at $2,713,740. This represents a 22.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the transaction, the insider directly owned 9,283 shares of the company’s stock, valued at $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,280 shares of company stock valued at $2,215,178 in the last three months. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

MCD has been the topic of several research reports. KeyCorp reiterated an “overweight” rating and set a $335.00 price objective (up previously from $325.00) on shares of McDonald’s in a report on Thursday. JPMorgan Chase & Co. upped their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday. Northcoast Research lowered shares of McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. BTIG Research restated a “neutral” rating on shares of McDonald’s in a report on Tuesday, April 22nd. Finally, Evercore ISI upped their target price on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s has an average rating of “Hold” and a consensus price target of $326.87.

McDonald’s Stock Performance

Shares of MCD stock opened at $305.62 on Monday. McDonald’s Corporation has a 52-week low of $265.33 and a 52-week high of $326.32. The company has a 50-day simple moving average of $298.57 and a two-hundred day simple moving average of $304.63. The company has a market capitalization of $218.09 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 3.12 and a beta of 0.52.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the prior year, the firm posted $2.97 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald’s’s dividend payout ratio is currently 60.67%.

McDonald’s Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.