McDonald’s Corporation (NYSE:MCD) Position Reduced by Asahi Life Asset Management CO. LTD.

by · The Markets Daily

Asahi Life Asset Management CO. LTD. trimmed its stake in shares of McDonald’s Corporation (NYSE:MCD – Free Report) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,878 shares of the fast-food giant’s stock after selling 38 shares during the quarter. McDonald’s makes up 1.8% of Asahi Life Asset Management CO. LTD.’s portfolio, making the stock its 16th biggest position. Asahi Life Asset Management CO. LTD.’s holdings in McDonald’s were worth $2,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in shares of McDonald’s by 21.6% in the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock worth $2,692,000 after buying an additional 1,649 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of McDonald’s by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock worth $563,000 after acquiring an additional 52 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in shares of McDonald’s by 15.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 209,464 shares of the fast-food giant’s stock worth $60,722,000 after acquiring an additional 27,774 shares during the period. GHE LLC increased its holdings in shares of McDonald’s by 0.9% in the 4th quarter. GHE LLC now owns 14,677 shares of the fast-food giant’s stock worth $4,255,000 after acquiring an additional 136 shares during the period. Finally, Proficio Capital Partners LLC increased its holdings in shares of McDonald’s by 50.7% in the 4th quarter. Proficio Capital Partners LLC now owns 2,038 shares of the fast-food giant’s stock worth $591,000 after acquiring an additional 686 shares during the period. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Trading Up 0.5%

NYSE:MCD opened at $299.80 on Monday. McDonald’s Corporation has a twelve month low of $246.12 and a twelve month high of $326.32. The company has a 50-day moving average of $304.11 and a 200-day moving average of $302.59. The firm has a market cap of $214.37 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 3.13 and a beta of 0.53.

McDonald’s (NYSE:MCD – Get Free Report) last announced its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting the consensus estimate of $2.67. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.17 billion. During the same period last year, the company posted $2.70 earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, research analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Monday, June 2nd. McDonald’s’s payout ratio is 62.49%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MCD shares. Redburn Atlantic reaffirmed a “sell” rating and issued a $260.00 price objective (down previously from $319.00) on shares of McDonald’s in a report on Tuesday, June 10th. Northcoast Research cut shares of McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. Argus cut shares of McDonald’s from a “buy” rating to a “hold” rating in a report on Friday, June 13th. Piper Sandler increased their price objective on shares of McDonald’s from $292.00 to $314.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Finally, TD Securities reissued a “hold” rating and set a $305.00 target price on shares of McDonald’s in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $322.29.

Check Out Our Latest Analysis on MCD

Insider Activity

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the transaction, the chief marketing officer directly owned 8,858 shares in the company, valued at $2,657,400. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $288.52, for a total transaction of $270,920.28. Following the completion of the transaction, the insider owned 10,222 shares of the company’s stock, valued at approximately $2,949,251.44. The trade was a 8.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,817 shares of company stock valued at $1,165,843. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Profile

(Free Report)

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.

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