McDonald’s Corporation $MCD Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. cut its position in McDonald’s Corporation (NYSE:MCD) by 65.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,303 shares of the fast-food giant’s stock after selling 10,008 shares during the quarter. Panagora Asset Management Inc.’s holdings in McDonald’s were worth $1,549,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCD. WealthPlan Investment Management LLC boosted its position 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 worth $1,134,000 after buying an additional 32 shares during the period. WealthTrust Axiom LLC increased its position in McDonald’s by 1.8% in the 1st quarter. WealthTrust Axiom LLC now owns 1,946 shares of the fast-food giant’s stock valued at $608,000 after acquiring an additional 35 shares during the period. Certior Financial Group LLC raised its stake in McDonald’s by 2.6% during the 1st quarter. Certior Financial Group LLC now owns 1,367 shares of the fast-food giant’s stock valued at $427,000 after acquiring an additional 35 shares in the last quarter. Alaethes Wealth LLC raised its stake in McDonald’s by 3.0% during the 1st quarter. Alaethes Wealth LLC now owns 1,219 shares of the fast-food giant’s stock valued at $381,000 after acquiring an additional 35 shares in the last quarter. Finally, Sheets Smith Wealth Management boosted its position in McDonald’s by 1.0% during the 2nd quarter. Sheets Smith Wealth Management now owns 3,604 shares of the fast-food giant’s stock worth $1,053,000 after acquiring an additional 35 shares during the period. Institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

MCD has been the topic of a number of research analyst reports. BMO Capital Markets reissued an “outperform” rating on shares of McDonald’s in a report on Thursday, November 6th. Barclays decreased their target price on shares of McDonald’s from $362.00 to $358.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Guggenheim boosted their price target on shares of McDonald’s from $295.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a research note on Friday, October 31st. Finally, Royal Bank Of Canada began coverage on shares of McDonald’s in a research note on Wednesday, October 8th. They set a “sector perform” rating and a $320.00 price objective on the stock. Eleven research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $324.57.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $308.02 on Friday. The firm has a 50 day simple moving average of $303.88 and a 200 day simple moving average of $304.01. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The company has a market cap of $219.36 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 3.42 and a beta of 0.52.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.11). The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.10 billion. McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. McDonald’s’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $3.23 earnings per share. On average, equities analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $1.86 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $7.44 annualized dividend and a yield of 2.4%. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio (DPR) is currently 63.48%.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 3,195 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $305.82, for a total transaction of $977,094.90. Following the completion of the sale, the insider directly owned 6,088 shares in the company, valued at approximately $1,861,832.16. This trade represents a 34.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Ian Frederick Borden sold 17,134 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $310.00, for a total value of $5,311,540.00. Following the completion of the transaction, the chief financial officer owned 26,353 shares in the company, valued at $8,169,430. This represents a 39.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 40,030 shares of company stock valued at $12,240,570. 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.