Ascension Asset Management LLC Trims Position in Mcdonald’s Corp (NYSE:MCD)

Ascension Asset Management LLC lowered its holdings in Mcdonald’s Corp (NYSE:MCD) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,375 shares of the fast-food giant’s stock after selling 75 shares during the quarter. Ascension Asset Management LLC’s holdings in Mcdonald’s were worth $422,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Highwater Wealth Management LLC purchased a new position in Mcdonald’s during the fourth quarter worth about $38,000. New Capital Management LP lifted its position in shares of Mcdonald’s by 33.1% during the 4th quarter. New Capital Management LP now owns 221 shares of the fast-food giant’s stock worth $39,000 after buying an additional 55 shares during the last quarter. Tower View Investment Management & Research LLC raised its position in Mcdonald’s by 20.6% in the 4th quarter. Tower View Investment Management & Research LLC now owns 375 shares of the fast-food giant’s stock valued at $67,000 after purchasing an additional 64 shares during the last quarter. NuWave Investment Management LLC raised its position in Mcdonald’s by 2,485.2% in the 3rd quarter. NuWave Investment Management LLC now owns 698 shares of the fast-food giant’s stock valued at $117,000 after purchasing an additional 671 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in Mcdonald’s in the 3rd quarter valued at $122,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Shares of MCD stock opened at $174.15 on Thursday. Mcdonald’s Corp has a 12 month low of $146.84 and a 12 month high of $190.88. The company has a market cap of $134.34 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 2.41 and a beta of 0.52.

Mcdonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, January 30th. The fast-food giant reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. The firm had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.16 billion. Mcdonald’s had a negative return on equity of 104.38% and a net margin of 28.18%. The business’s revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.71 earnings per share. Equities research analysts anticipate that Mcdonald’s Corp will post 8.19 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Thursday, February 28th. Mcdonald’s’s payout ratio is 58.73%.

A number of brokerages have commented on MCD. Gordon Haskett began coverage on shares of Mcdonald’s in a research report on Thursday, October 18th. They set a “buy” rating and a $185.00 price objective for the company. Piper Jaffray Companies upped their price target on shares of Mcdonald’s to $194.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 28th. Cowen increased their price objective on shares of Mcdonald’s from $190.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, November 9th. Wells Fargo & Co increased their price objective on shares of Mcdonald’s from $197.00 to $202.00 and gave the company an “outperform” rating in a research note on Wednesday, November 21st. Finally, Morningstar set a $190.00 price target on shares of Mcdonald’s and gave the stock a “neutral” rating in a research note on Wednesday, October 24th. Seven investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $192.35.

In other Mcdonald’s news, VP Robert Lane Gibbs sold 22,036 shares of the stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $180.95, for a total value of $3,987,414.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Andrew J. Mckenna sold 30,000 shares of the stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $180.27, for a total value of $5,408,100.00. The disclosure for this sale can be found here. Insiders sold 128,447 shares of company stock worth $23,015,775 in the last three months. Insiders own 0.22% of the company’s stock.

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Mcdonald’s Company Profile

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2017, the company operated 37,241 restaurants, including 34,108 franchised restaurants comprising 21,366 franchised to conventional franchisees, 6,945 licensed to developmental licensees, and 5,797 licensed to foreign affiliates; and 3,133 company-operated restaurants.

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