Panagora Asset Management Inc. Has $4.78 Million Holdings in McDonald's Corporation $MCD

Key Points

• Panagora Asset Management Inc. reduced its stake in McDonald's Corporation by 10.1%, selling 1,718 shares and holding a total of 15,311 shares valued at approximately $4.78 million.
• McDonald's announced a quarterly dividend of $1.77 to be paid on September 16th, representing an annualized yield of 2.3% and a payout ratio of 60.67%.
• The fast-food giant reported earnings of $3.19 per share for the latest quarter, exceeding analysts' expectations, with a revenue of $6.84 billion, up 5.4% year-over-year.

Panagora Asset Management Inc. trimmed its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 10.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,311 shares of the fast-food giant's stock after selling 1,718 shares during the quarter. Panagora Asset Management Inc.'s holdings in McDonald's were worth $4,783,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. WealthPlan Investment Management LLC raised its holdings in shares of McDonald's by 0.9% in the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant's stock valued at $1,134,000 after buying an additional 32 shares during the last quarter. Granite Bay Wealth Management LLC raised its holdings in shares of McDonald's by 3.5% in the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock valued at $309,000 after buying an additional 33 shares during the last quarter. CVA Family Office LLC raised its holdings in shares of McDonald's by 1.9% in the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock valued at $560,000 after buying an additional 33 shares during the last quarter. Consilium Wealth Advisory LLC raised its holdings in shares of McDonald's by 2.5% in the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock valued at $417,000 after buying an additional 33 shares during the last quarter. Finally, Security Financial Services INC. raised its holdings in shares of McDonald's by 0.7% in the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock valued at $1,575,000 after buying an additional 33 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on MCD. Morgan Stanley lifted their price target on McDonald's from $324.00 to $326.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. The Goldman Sachs Group raised McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price objective for the company in a report on Thursday, July 10th. Redburn Atlantic reissued a "sell" rating and set a $260.00 price objective (down from $319.00) on shares of McDonald's in a report on Tuesday, June 10th. BMO Capital Markets boosted their price objective on McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Evercore ISI boosted their price objective on McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Twelve investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $325.35.

McDonald's Stock Down 0.8%

Shares of MCD traded down $2.69 on Friday, hitting $314.30. The company's stock had a trading volume of 2,533,016 shares, compared to its average volume of 2,961,695. The firm's fifty day moving average price is $303.87 and its 200-day moving average price is $306.45. McDonald's Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The firm has a market capitalization of $224.28 billion, a price-to-earnings ratio of 26.93, a P/E/G ratio of 3.23 and a beta of 0.50.

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

McDonald's Announces Dividend

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

Insiders Place Their Bets

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the transaction, the chief marketing officer directly owned 6,858 shares in the company, valued at approximately $2,160,270. The trade was a 12.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the transaction, the executive vice president directly owned 99 shares of the company's stock, valued at approximately $30,690. This trade represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,341 shares of company stock valued at $2,544,327 over the last 90 days. 0.25% of the stock is owned by company insiders.

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.