Cresset Asset Management LLC Sells 9,728 Shares of McDonald’s Co. (NYSE:MCD)

Cresset Asset Management LLC reduced its position in McDonald’s Co. (NYSE:MCDGet Rating) by 22.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 33,753 shares of the fast-food giant’s stock after selling 9,728 shares during the quarter. Cresset Asset Management LLC’s holdings in McDonald’s were worth $8,346,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MCD. Jag Capital Management LLC grew its stake in shares of McDonald’s by 1.1% during the 4th quarter. Jag Capital Management LLC now owns 3,600 shares of the fast-food giant’s stock valued at $965,000 after acquiring an additional 40 shares during the period. Wagner Wealth Management LLC grew its stake in shares of McDonald’s by 11.2% during the 4th quarter. Wagner Wealth Management LLC now owns 408 shares of the fast-food giant’s stock valued at $109,000 after acquiring an additional 41 shares during the period. Canvas Wealth Advisors LLC grew its stake in shares of McDonald’s by 3.1% during the 1st quarter. Canvas Wealth Advisors LLC now owns 1,385 shares of the fast-food giant’s stock valued at $340,000 after acquiring an additional 41 shares during the period. Clarkston Capital Partners LLC grew its stake in shares of McDonald’s by 0.6% during the 1st quarter. Clarkston Capital Partners LLC now owns 6,389 shares of the fast-food giant’s stock valued at $1,580,000 after acquiring an additional 41 shares during the period. Finally, CAPROCK Group Inc. grew its stake in shares of McDonald’s by 0.8% during the 1st quarter. CAPROCK Group Inc. now owns 5,159 shares of the fast-food giant’s stock valued at $1,276,000 after acquiring an additional 42 shares during the period. 67.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley lowered their price target on McDonald’s from $287.00 to $285.00 and set an “overweight” rating on the stock in a report on Monday, July 18th. Jefferies Financial Group lowered their price target on McDonald’s from $306.00 to $298.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Barclays lowered their price target on McDonald’s from $289.00 to $285.00 and set an “overweight” rating on the stock in a report on Wednesday, July 27th. Cowen boosted their price target on McDonald’s from $275.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Finally, BMO Capital Markets boosted their price target on McDonald’s from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Tuesday, August 16th. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $285.04.

McDonald’s Stock Performance

NYSE:MCD opened at $259.52 on Friday. The stock’s fifty day moving average is $257.88 and its 200 day moving average is $248.63. McDonald’s Co. has a fifty-two week low of $217.68 and a fifty-two week high of $271.15. The firm has a market capitalization of $190.93 billion, a PE ratio of 31.96, a PEG ratio of 3.16 and a beta of 0.57.

McDonald’s (NYSE:MCDGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The fast-food giant reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. McDonald’s had a negative return on equity of 129.90% and a net margin of 25.77%. The company had revenue of $5.72 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter in the prior year, the firm posted $2.37 EPS. McDonald’s’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities analysts forecast that McDonald’s Co. will post 9.83 EPS for the current year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Thursday, September 1st will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $5.52 annualized dividend and a yield of 2.13%. McDonald’s’s payout ratio is presently 67.98%.

Insider Activity at McDonald’s

In other McDonald’s news, insider Ian Frederick Borden sold 8,000 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $255.80, for a total value of $2,046,400.00. Following the transaction, the insider now owns 7,131 shares of the company’s stock, valued at approximately $1,824,109.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McDonald’s news, insider Ian Frederick Borden sold 8,000 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $255.80, for a total value of $2,046,400.00. Following the transaction, the insider now owns 7,131 shares of the company’s stock, valued at approximately $1,824,109.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Enrique Hernandez, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $264.02, for a total value of $1,188,090.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,191 shares of company stock worth $5,250,365. Company insiders own 0.25% of the company’s stock.

About McDonald’s

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McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.

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

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