UBS AM Sells Stake in MCD as McDonald's Earnings Beat Estimates
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC, trimmed its stake in McDonald's Corporation (NYSE:MCD) by selling 754,400 shares during the second quarter. The company owned 5,839,330 shares of MCD's stock after the sale and held 0.83% of the fast-food giant's worth $1,578,429,000 as of its most recent filing with the SEC.
McDonald's reported quarterly earnings data on August 4th, topping analysts' consensus estimates with $3.38 EPS. The company had a negative return on equity of 572.06% and a net margin of 31.72%. Revenue for the quarter was $7.10 billion, compared to analyst estimates of $7.13 billion.
Analysts forecast McDonald's Corporation will post 12.87 earnings per share for the current year. The company also recently declared a quarterly dividend, which will be paid on September 16th to stockholders of record on September 1st. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.8%.