Concorde Asset Management LLC Sells 239 Shares of McDonald’s Co. (NYSE:MCD)

Concorde Asset Management LLC reduced its position in McDonald’s Co. (NYSE:MCD) by 16.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,224 shares of the fast-food giant’s stock after selling 239 shares during the quarter. Concorde Asset Management LLC’s holdings in McDonald’s were worth $312,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of McDonald’s by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock worth $20,473,811,000 after acquiring an additional 599,745 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of McDonald’s by 15.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after buying an additional 987,099 shares during the last quarter. Gallagher Fiduciary Advisors LLC lifted its stake in shares of McDonald’s by 141,160.9% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after buying an additional 5,609,736 shares during the period. Capital Research Global Investors raised its stake in McDonald’s by 66.9% in the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after acquiring an additional 2,193,769 shares during the last quarter. Finally, Capital World Investors raised its stake in shares of McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after purchasing an additional 1,012,534 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The disclosure for this sale can be found here. Insiders have sold 6,291 shares of company stock valued at $1,689,073 over the last quarter. 0.23% of the stock is owned by insiders.

McDonald’s Stock Performance

Shares of MCD opened at $292.02 on Thursday. The company’s 50-day simple moving average is $275.66 and its 200-day simple moving average is $270.68. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $302.39. The stock has a market capitalization of $210.45 billion, a PE ratio of 24.79, a P/E/G ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the prior year, the company posted $3.17 EPS. The firm’s revenue was down .1% compared to the same quarter last year. On average, sell-side analysts predict that McDonald’s Co. will post 11.67 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.29%. McDonald’s’s payout ratio is currently 56.71%.

Analyst Ratings Changes

A number of research firms have weighed in on MCD. Wedbush reiterated an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research note on Monday, July 29th. Evercore ISI raised their price objective on shares of McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. JPMorgan Chase & Co. raised their target price on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Jefferies Financial Group raised their price objective on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus target price of $306.11.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.