Lifestyle Asset Management Inc. Sells 354 Shares of McDonald’s Co. (NYSE:MCD)

Lifestyle Asset Management Inc. cut its stake in McDonald’s Co. (NYSE:MCD) by 33.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 720 shares of the fast-food giant’s stock after selling 354 shares during the quarter. Lifestyle Asset Management Inc.’s holdings in McDonald’s were worth $203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of McDonald’s during the first quarter valued at approximately $28,000. Signature Resources Capital Management LLC bought a new stake in McDonald’s in the fourth quarter worth $31,000. Spartan Planning & Wealth Management bought a new stake in McDonald’s in the third quarter worth $33,000. Clear Investment Research LLC purchased a new stake in shares of McDonald’s in the fourth quarter worth $38,000. Finally, Keener Financial Planning LLC bought a new position in shares of McDonald’s during the fourth quarter valued at $39,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

Shares of NYSE MCD traded up $2.25 during mid-day trading on Wednesday, reaching $250.04. The company’s stock had a trading volume of 2,026,063 shares, compared to its average volume of 3,426,628. The stock has a 50-day moving average of $262.22 and a two-hundred day moving average of $278.52. The stock has a market capitalization of $180.20 billion, a P/E ratio of 21.18, a P/E/G ratio of 2.87 and a beta of 0.71. McDonald’s Co. has a 1-year low of $245.73 and a 1-year high of $302.39.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter in the previous year, the business posted $2.63 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts predict that McDonald’s Co. will post 12.19 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a $1.67 dividend. The ex-dividend date was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.67%. McDonald’s’s payout ratio is presently 56.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. UBS Group reduced their price objective on McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a report on Friday, April 5th. BMO Capital Markets dropped their target price on shares of McDonald’s from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Evercore ISI reiterated an “outperform” rating and set a $330.00 target price on shares of McDonald’s in a research note on Wednesday, March 27th. Robert W. Baird dropped their price target on McDonald’s from $305.00 to $300.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Finally, Bank of America reduced their price objective on McDonald’s from $302.00 to $288.00 and set a “neutral” rating for the company in a research report on Tuesday, May 28th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and a consensus price target of $313.89.

Insider Activity at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jonathan Banner sold 800 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the transaction, the executive vice president now owns 19 shares in the company, valued at $5,225.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,593 shares of company stock worth $1,472,518. 0.23% of the stock is currently owned by company insiders.

McDonald’s 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.