Adell Harriman & Carpenter Inc. Lowers Holdings in McDonald’s Co. (NYSE:MCD)

Adell Harriman & Carpenter Inc. trimmed its position in McDonald’s Co. (NYSE:MCD) by 14.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,877 shares of the fast-food giant’s stock after selling 4,118 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in McDonald’s were worth $7,576,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Legal & General Group Plc lifted its stake in shares of McDonald’s by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after purchasing an additional 188,888 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after purchasing an additional 2,193,769 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of McDonald’s by 8.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after purchasing an additional 354,196 shares during the last quarter. Capital World Investors lifted its stake in shares of McDonald’s by 39.7% during the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after purchasing an additional 1,012,534 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after purchasing an additional 2,311,721 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. UBS Group increased their price objective on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Loop Capital reissued a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Morgan Stanley raised their target price on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, The Goldman Sachs Group raised their target price on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $318.22.

McDonald’s Trading Down 0.6 %

Shares of NYSE MCD opened at $295.03 on Wednesday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The stock has a fifty day simple moving average of $298.15 and a 200-day simple moving average of $275.35. The stock has a market capitalization of $211.64 billion, a PE ratio of 25.81, a PEG ratio of 4.13 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the previous year, the firm posted $3.17 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities analysts predict that McDonald’s Co. will post 11.73 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.40%. McDonald’s’s payout ratio is presently 61.94%.

Insider Activity at McDonald’s

In related news, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the transaction, the chief marketing officer now directly owns 2,905 shares in the company, valued at approximately $900,550. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the transaction, the chief marketing officer now directly owns 2,905 shares in the company, valued at approximately $900,550. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the transaction, the insider now owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,097 shares of company stock worth $10,256,818. Company insiders own 0.23% of the company’s stock.

McDonald’s Company 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.