Palisade Asset Management LLC Sells 258 Shares of McDonald’s Corporation (MCD)

Palisade Asset Management LLC decreased its stake in McDonald’s Corporation (NYSE:MCD) by 0.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,298 shares of the fast-food giant’s stock after selling 258 shares during the period. McDonald’s Corporation comprises about 1.7% of Palisade Asset Management LLC’s portfolio, making the stock its 22nd largest position. Palisade Asset Management LLC’s holdings in McDonald’s Corporation were worth $9,371,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. First Bank & Trust increased its stake in shares of McDonald’s Corporation by 4.9% in the first quarter. First Bank & Trust now owns 18,811 shares of the fast-food giant’s stock valued at $2,438,000 after buying an additional 884 shares during the last quarter. Conning Inc. increased its stake in shares of McDonald’s Corporation by 1.2% in the first quarter. Conning Inc. now owns 219,132 shares of the fast-food giant’s stock valued at $28,402,000 after buying an additional 2,585 shares during the last quarter. Reynders McVeigh Capital Management LLC increased its stake in shares of McDonald’s Corporation by 0.9% in the first quarter. Reynders McVeigh Capital Management LLC now owns 19,638 shares of the fast-food giant’s stock valued at $2,545,000 after buying an additional 175 shares during the last quarter. Security National Trust Co. increased its stake in shares of McDonald’s Corporation by 8.8% in the first quarter. Security National Trust Co. now owns 5,889 shares of the fast-food giant’s stock valued at $764,000 after buying an additional 477 shares during the last quarter. Finally, Welch & Forbes LLC increased its stake in shares of McDonald’s Corporation by 1.0% in the first quarter. Welch & Forbes LLC now owns 341,710 shares of the fast-food giant’s stock valued at $44,289,000 after buying an additional 3,407 shares during the last quarter. 67.60% of the stock is owned by institutional investors and hedge funds.

Shares of McDonald’s Corporation (MCD) traded down 0.05% on Wednesday, reaching $153.89. 3,072,177 shares of the company traded hands. The stock’s 50 day moving average price is $153.20 and its 200-day moving average price is $136.79. The stock has a market capitalization of $125.43 billion, a P/E ratio of 27.17 and a beta of 0.70. McDonald’s Corporation has a one year low of $110.33 and a one year high of $156.75.

McDonald’s Corporation (NYSE:MCD) last released its quarterly earnings results on Tuesday, April 25th. The fast-food giant reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.14. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.53 billion. McDonald’s Corporation had a net margin of 19.58% and a negative return on equity of 387.22%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 earnings per share. Equities analysts forecast that McDonald’s Corporation will post $6.40 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, June 19th. Investors of record on Monday, June 5th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Thursday, June 1st. McDonald’s Corporation’s dividend payout ratio (DPR) is currently 66.43%.

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MCD has been the subject of several analyst reports. Morgan Stanley set a $150.00 price objective on shares of McDonald’s Corporation and gave the stock a “neutral” rating in a research note on Wednesday. Barclays PLC set a $164.00 price objective on shares of McDonald’s Corporation and gave the stock a “buy” rating in a research note on Wednesday. Nomura set a $172.00 price objective on shares of McDonald’s Corporation and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Group LLC reiterated a “hold” rating and issued a $140.00 price objective on shares of McDonald’s Corporation in a research note on Wednesday. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $153.00 price objective on shares of McDonald’s Corporation in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-three have issued a buy rating to the stock. McDonald’s Corporation presently has a consensus rating of “Buy” and an average target price of $153.70.

In related news, VP James R. Sappington sold 13,912 shares of McDonald’s Corporation stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $141.39, for a total value of $1,967,017.68. Following the sale, the vice president now owns 14,608 shares in the company, valued at $2,065,425.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.24% of the company’s stock.

About McDonald’s Corporation

McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.

Institutional Ownership by Quarter for McDonald`s Corporation (NYSE:MCD)

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