Concorde Asset Management LLC Sells 865 Shares of McDonald's Co. (NYSE:MCD)

Concorde Asset Management LLC trimmed its stake in shares of McDonald's Co. (NYSE:MCD - Free Report) by 55.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 705 shares of the fast-food giant's stock after selling 865 shares during the period. Concorde Asset Management LLC's holdings in McDonald's were worth $204,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Quinn Opportunity Partners LLC raised its holdings in McDonald's by 67.9% during the 4th quarter. Quinn Opportunity Partners LLC now owns 23,500 shares of the fast-food giant's stock worth $6,812,000 after purchasing an additional 9,500 shares during the last quarter. Heritage Trust Co acquired a new position in McDonald's in the fourth quarter valued at approximately $4,091,000. Jaffetilchin Investment Partners LLC boosted its stake in McDonald's by 4.5% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 14,748 shares of the fast-food giant's stock valued at $4,275,000 after acquiring an additional 631 shares during the last quarter. Covestor Ltd grew its holdings in McDonald's by 4.1% during the 4th quarter. Covestor Ltd now owns 899 shares of the fast-food giant's stock worth $261,000 after acquiring an additional 35 shares during the period. Finally, Accredited Investors Inc. raised its position in shares of McDonald's by 1.1% during the 4th quarter. Accredited Investors Inc. now owns 3,867 shares of the fast-food giant's stock valued at $1,121,000 after acquiring an additional 43 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

McDonald's Price Performance

Shares of NYSE MCD traded down $3.51 during mid-day trading on Tuesday, hitting $312.56. 1,161,562 shares of the stock traded hands, compared to its average volume of 3,579,704. The firm has a 50 day simple moving average of $306.66 and a two-hundred day simple moving average of $299.09. McDonald's Co. has a twelve month low of $243.53 and a twelve month high of $326.32. The company has a market cap of $223.31 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 3.10 and a beta of 0.62.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, hitting analysts' consensus estimates of $2.83. McDonald's had a net margin of 31.73% and a negative return on equity of 181.63%. On average, equities research analysts anticipate that McDonald's Co. will post 12.25 earnings per share for the current fiscal year.

McDonald's Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $1.77 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $7.08 annualized dividend and a yield of 2.27%. McDonald's's payout ratio is 62.16%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Loop Capital reaffirmed a "buy" rating and set a $342.00 price objective on shares of McDonald's in a research note on Friday, January 3rd. Wedbush upped their price target on McDonald's from $320.00 to $330.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Piper Sandler reduced their price objective on shares of McDonald's from $297.00 to $290.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. KeyCorp lifted their target price on McDonald's from $335.00 to $340.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Finally, Robert W. Baird cut their price target on shares of McDonald's from $310.00 to $300.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Nine equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, McDonald's presently has a consensus rating of "Moderate Buy" and a consensus price target of $322.87.

Insider Activity

In other news, EVP Tiffanie L. Boyd sold 1,000 shares of McDonald's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $309.27, for a total value of $309,270.00. Following the completion of the sale, the executive vice president now owns 5,564 shares in the company, valued at $1,720,778.28. The trade was a 15.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the transaction, the chief executive officer now directly owns 32,756 shares in the company, valued at approximately $10,155,997.80. This represents a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,497 shares of company stock valued at $8,461,400. 0.23% of the stock is currently owned by insiders.

McDonald's Profile

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.