Evercore Wealth Management LLC Cuts Position in McDonald’s Co. (NYSE:MCD)

Evercore Wealth Management LLC cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 14.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 270,267 shares of the fast-food giant’s stock after selling 44,900 shares during the quarter. Evercore Wealth Management LLC’s holdings in McDonald’s were worth $78,348,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MCD. Boltwood Capital Management lifted its holdings in shares of McDonald’s by 1.9% during the fourth quarter. Boltwood Capital Management now owns 1,882 shares of the fast-food giant’s stock valued at $546,000 after purchasing an additional 35 shares in the last quarter. Pettee Investors Inc. boosted its stake in shares of McDonald’s by 0.7% during the 4th quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock worth $1,566,000 after acquiring an additional 35 shares during the last quarter. Covestor Ltd raised its stake in shares of McDonald’s by 4.1% in the fourth quarter. Covestor Ltd now owns 899 shares of the fast-food giant’s stock worth $261,000 after buying an additional 35 shares during the period. Modus Advisors LLC lifted its position in shares of McDonald’s by 0.4% during the 4th quarter. Modus Advisors LLC now owns 9,396 shares of the fast-food giant’s stock valued at $2,724,000 after buying an additional 36 shares in the last quarter. Finally, Independent Wealth Network Inc. grew its stake in shares of McDonald’s by 5.1% during the 4th quarter. Independent Wealth Network Inc. now owns 736 shares of the fast-food giant’s stock valued at $213,000 after acquiring an additional 36 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 300 shares of McDonald’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the sale, the insider now directly owns 7,887 shares in the company, valued at $2,214,275.25. This trade represents a 3.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the transaction, the chief executive officer now directly owns 32,756 shares in the company, valued at approximately $10,155,997.80. The trade was a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,497 shares of company stock worth $8,461,400 over the last three months. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $319.05 on Wednesday. The stock has a 50 day moving average price of $307.59 and a 200 day moving average price of $299.47. The firm has a market capitalization of $227.95 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 3.10 and a beta of 0.62. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $326.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. Analysts forecast that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Monday, March 3rd. McDonald’s’s dividend payout ratio is currently 62.16%.

Analyst Ratings Changes

Several brokerages recently weighed in on MCD. Wedbush upped their target price on shares of McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Loop Capital restated a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a research report on Friday, January 3rd. Erste Group Bank raised McDonald’s from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. BMO Capital Markets raised their price objective on McDonald’s from $335.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, Barclays cut their target price on McDonald’s from $350.00 to $347.00 and set an “overweight” rating on the stock in a research report on Tuesday. Nine 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 stock. According to MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $322.74.

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.