Assenagon Asset Management S.A. Sells 182,815 Shares of McDonald's Co. (NYSE:MCD)

Assenagon Asset Management S.A. cut its holdings in shares of McDonald's Co. (NYSE:MCD - Free Report) by 47.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,163 shares of the fast-food giant's stock after selling 182,815 shares during the period. Assenagon Asset Management S.A.'s holdings in McDonald's were worth $62,213,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MCD. Mascagni Wealth Management Inc. purchased a new stake in shares of McDonald's during the fourth quarter valued at $25,000. Atala Financial Inc purchased a new position in McDonald's in the fourth quarter worth about $26,000. Pinney & Scofield Inc. purchased a new position in McDonald's in the fourth quarter worth about $29,000. Fairway Wealth LLC boosted its position in McDonald's by 110.0% in the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant's stock worth $30,000 after purchasing an additional 55 shares during the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of McDonald's during the 4th quarter valued at about $30,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald's Trading Up 0.4%

MCD traded up $1.21 on Thursday, hitting $302.93. 2,581,660 shares of the company's stock traded hands, compared to its average volume of 3,507,059. The company's 50 day simple moving average is $311.84 and its 200-day simple moving average is $302.83. The firm has a market cap of $216.60 billion, a price-to-earnings ratio of 26.60, a P/E/G ratio of 3.10 and a beta of 0.56. McDonald's Co. has a one year low of $243.53 and a one year high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.67. McDonald's had a negative return on equity of 181.63% and a net margin of 31.73%. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. During the same quarter in the previous year, the company posted $2.70 EPS. The company's revenue was down 3.5% compared to the same quarter last year. As a group, equities analysts anticipate that McDonald's Co. will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Monday, June 2nd. McDonald's's payout ratio is 62.49%.

Insiders Place Their Bets

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total value of $295,850.73. Following the sale, the insider now owns 11,161 shares of the company's stock, valued at $3,516,496.27. The trade was a 7.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MCD. BTIG Research reissued a "neutral" rating on shares of McDonald's in a report on Tuesday, April 22nd. KeyCorp lifted their price target on shares of McDonald's from $335.00 to $340.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. TD Securities restated a "hold" rating and issued a $305.00 price objective on shares of McDonald's in a research note on Thursday, June 5th. Erste Group Bank cut McDonald's from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Redburn Atlantic reissued a "sell" rating and set a $260.00 price target (down previously from $319.00) on shares of McDonald's in a report on Tuesday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, McDonald's presently has an average rating of "Hold" and a consensus target price of $321.79.

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.