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

Trust Asset Management LLC cut its holdings in McDonald’s Corporation (NYSE:MCD) by 1.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 8,264 shares of the fast-food giant’s stock after selling 154 shares during the period. Trust Asset Management LLC’s holdings in McDonald’s were worth $2,581,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mascagni Wealth Management Inc. bought a new position in McDonald’s in the 4th quarter worth approximately $25,000. Abound Financial LLC bought a new position in McDonald’s in the 1st quarter worth approximately $30,000. Pinney & Scofield Inc. bought a new position in McDonald’s in the 4th quarter worth approximately $29,000. Redmont Wealth Advisors LLC bought a new position in McDonald’s in the 1st quarter worth approximately $31,000. Finally, Financial Gravity Asset Management Inc. bought a new position in McDonald’s in the 1st quarter worth approximately $31,000. 70.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other McDonald’s news, CMO Edith Morgan Flatley sold 976 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $303.50, for a total value of $296,216.00. Following the completion of the sale, the chief marketing officer directly owned 7,882 shares of the company’s stock, valued at $2,392,187. The trade was a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the sale, 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 over the last three months. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MCD shares. Erste Group Bank downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 24th. Argus cut shares of McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. KeyCorp reiterated an “overweight” rating and issued a $335.00 target price (up from $325.00) on shares of McDonald’s in a research note on Thursday. BTIG Research reiterated a “neutral” rating on shares of McDonald’s in a research note on Tuesday, April 22nd. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $260.00 target price (down from $319.00) on shares of McDonald’s in a research note on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, McDonald’s currently has a consensus rating of “Hold” and an average price target of $326.87.

McDonald’s Stock Performance

NYSE MCD 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 market capitalization of $218.09 billion, a P/E ratio of 26.19, a P/E/G ratio of 3.12 and a beta of 0.52. The company has a fifty day moving average of $298.57 and a 200-day moving average of $304.63.

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

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a $1.77 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.3%. McDonald’s’s payout ratio is currently 60.67%.

About McDonald’s

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.