International Assets Investment Management LLC Reduces Holdings in McDonald’s Corporation $MCD

International Assets Investment Management LLC cut its position in McDonald’s Corporation (NYSE:MCD) by 21.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,675 shares of the fast-food giant’s stock after selling 1,550 shares during the quarter. International Assets Investment Management LLC’s holdings in McDonald’s were worth $1,658,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in shares of McDonald’s during the first quarter worth about $1,324,961,000. Price T Rowe Associates Inc. MD grew its stake in McDonald’s by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after purchasing an additional 1,344,954 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in McDonald’s by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after purchasing an additional 815,768 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in McDonald’s by 732.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock worth $203,211,000 after purchasing an additional 572,408 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of McDonald’s by 204.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock valued at $177,390,000 after purchasing an additional 407,982 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on MCD. Barclays lifted their price target on shares of McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Melius assumed coverage on shares of McDonald’s in a research report on Monday, July 14th. They issued a “sell” rating and a $250.00 target price for the company. Guggenheim cut their target price on shares of McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a research note on Friday, October 10th. JPMorgan Chase & Co. lifted their price target on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of McDonald’s in a report on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $324.68.

McDonald’s Stock Performance

NYSE MCD opened at $308.02 on Monday. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32. The company has a 50-day simple moving average of $306.29 and a 200-day simple moving average of $305.41. The firm has a market capitalization of $219.80 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 3.25 and a beta of 0.50.

McDonald’s (NYSE:MCD) last released its quarterly earnings data 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. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the prior year, the business earned $2.97 earnings per share. McDonald’s’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

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

Insider Buying and Selling

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the transaction, the chief marketing officer owned 6,858 shares in the company, valued at approximately $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares in the company, valued at approximately $30,690. This represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,402 shares of company stock valued at $1,973,407 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

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.