Adell Harriman & Carpenter Inc. Trims Stock Holdings in McDonald’s Corporation $MCD

by · The Markets Daily

Adell Harriman & Carpenter Inc. decreased its stake in McDonald’s Corporation (NYSE:MCD – Free Report) by 5.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 20,680 shares of the fast-food giant’s stock after selling 1,095 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in McDonald’s were worth $6,042,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of McDonald’s by 21.6% in the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock valued at $2,692,000 after purchasing an additional 1,649 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of McDonald’s by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock valued at $563,000 after acquiring an additional 52 shares during the period. Quotient Wealth Partners LLC increased its holdings in shares of McDonald’s by 10.9% in the 1st quarter. Quotient Wealth Partners LLC now owns 2,616 shares of the fast-food giant’s stock valued at $817,000 after acquiring an additional 258 shares during the period. SSA Swiss Advisors AG acquired a new stake in shares of McDonald’s in the 1st quarter worth $175,000. Finally, Golden State Wealth Management LLC lifted its position in McDonald’s by 11.7% during the 1st quarter. Golden State Wealth Management LLC now owns 2,751 shares of the fast-food giant’s stock worth $859,000 after acquiring an additional 289 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 5,463 shares of company stock worth $1,692,186. Insiders own 0.25% of the company’s stock.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $302.18 on Thursday. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The firm has a market cap of $215.64 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 3.28 and a beta of 0.50. The firm’s 50-day simple moving average is $306.22 and its 200-day simple moving average is $305.66.

McDonald’s (NYSE:MCD – Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same period last year, the firm posted $2.97 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.5%. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. McDonald’s’s dividend payout ratio is 60.67%.

Wall Street Analyst Weigh In

MCD has been the subject of a number of analyst reports. Melius initiated coverage on McDonald’s in a report on Monday, July 14th. They issued a “sell” rating and a $250.00 price target for the company. Truist Financial reduced their price objective on McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Weiss Ratings reissued a “buy (b)” rating on shares of McDonald’s in a report on Wednesday, October 8th. BTIG Research reaffirmed a “neutral” rating on shares of McDonald’s in a report on Friday, October 24th. Finally, JPMorgan Chase & Co. raised their price target on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Eleven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $323.43.

View Our Latest Stock Report on MCD

McDonald’s Profile

(Free Report)

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.

Featured Articles

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 Corporation (NYSE:MCD – Free Report).