Palisade Capital Management LLC NJ Sells 100 Shares of McDonald’s Co. (NYSE:MCD)

Palisade Capital Management LLC NJ reduced its position in shares of McDonald’s Co. (NYSE:MCD) by 0.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,946 shares of the fast-food giant’s stock after selling 100 shares during the quarter. Palisade Capital Management LLC NJ’s holdings in McDonald’s were worth $6,224,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of MCD. Magellan Asset Management Ltd raised its holdings in McDonald’s by 21.3% during the 2nd quarter. Magellan Asset Management Ltd now owns 7,506,620 shares of the fast-food giant’s stock valued at $1,733,954,000 after buying an additional 1,319,503 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in McDonald’s by 40.3% during the 1st quarter. Ameriprise Financial Inc. now owns 3,888,377 shares of the fast-food giant’s stock valued at $871,882,000 after buying an additional 1,116,967 shares during the last quarter. Suvretta Capital Management LLC bought a new stake in McDonald’s during the 1st quarter valued at $213,957,000. UBS Asset Management Americas Inc. raised its holdings in McDonald’s by 22.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 3,443,349 shares of the fast-food giant’s stock valued at $771,792,000 after buying an additional 624,534 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in McDonald’s by 9.6% during the 1st quarter. Nuveen Asset Management LLC now owns 6,472,300 shares of the fast-food giant’s stock valued at $1,450,702,000 after purchasing an additional 566,813 shares during the period. Institutional investors own 66.34% of the company’s stock.

Shares of NYSE:MCD opened at $246.42 on Friday. The firm’s 50 day moving average price is $239.11 and its 200-day moving average price is $233.65. McDonald’s Co. has a twelve month low of $202.73 and a twelve month high of $247.38. The stock has a market capitalization of $184.03 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 2.36 and a beta of 0.63.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, July 27th. The fast-food giant reported $2.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.26. McDonald’s had a net margin of 31.72% and a negative return on equity of 83.98%. The firm had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.63 billion. During the same quarter in the prior year, the business earned $0.66 EPS. Equities analysts forecast that McDonald’s Co. will post 9 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Tuesday, November 30th. This is a boost from McDonald’s’s previous quarterly dividend of $1.29. McDonald’s’s dividend payout ratio is 85.29%.

In related news, CFO Kevin M. Ozan sold 47,649 shares of the stock in a transaction that occurred on Thursday, July 29th. The shares were sold at an average price of $243.90, for a total value of $11,621,591.10. Following the completion of the sale, the chief financial officer now directly owns 32,483 shares of the company’s stock, valued at approximately $7,922,603.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Catherine A. Hoovel sold 2,493 shares of the stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $243.45, for a total transaction of $606,920.85. Following the completion of the sale, the senior vice president now directly owns 3,384 shares of the company’s stock, valued at $823,834.80. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

A number of brokerages have issued reports on MCD. UBS Group boosted their price objective on shares of McDonald’s from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, July 29th. Stifel Nicolaus boosted their price objective on shares of McDonald’s from $240.00 to $245.00 and gave the company a “hold” rating in a research report on Thursday, July 29th. Guggenheim began coverage on shares of McDonald’s in a research report on Monday, July 26th. They set a “buy” rating and a $270.00 price objective on the stock. Argus boosted their price objective on shares of McDonald’s from $260.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, July 29th. Finally, Barclays boosted their price objective on shares of McDonald’s from $270.00 to $283.00 and gave the company an “overweight” rating in a research report on Tuesday, June 1st. Seven investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat, McDonald’s presently has a consensus rating of “Buy” and a consensus price target of $256.72.

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 in the United States. The International Operated Markets segment comprises operations and franchising of restaurant in Australia, Canada, France, Germany, Italy, the Netherlands, Russia, Spain, and the U.K.

Read More: How is a management fee different from a performance fee?

Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald’s Co. (NYSE:MCD).

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

Receive News & Ratings for McDonald's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDonald's and related companies with MarketBeat.com's FREE daily email newsletter.