Adell Harriman & Carpenter Inc. Sells 570 Shares of McDonald’s Corporation (NYSE:MCD)

Adell Harriman & Carpenter Inc. lessened its position in McDonald’s Corporation (NYSE:MCD) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,775 shares of the fast-food giant’s stock after selling 570 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in McDonald’s were worth $6,802,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of McDonald’s by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant’s stock worth $20,341,391,000 after buying an additional 526,466 shares during the period. Geode Capital Management LLC boosted its holdings in shares of McDonald’s by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant’s stock worth $4,652,768,000 after buying an additional 157,458 shares during the period. Capital Research Global Investors boosted its holdings in shares of McDonald’s by 5.2% during the 4th quarter. Capital Research Global Investors now owns 10,652,445 shares of the fast-food giant’s stock worth $3,088,037,000 after buying an additional 531,070 shares during the period. Norges Bank bought a new stake in shares of McDonald’s during the 4th quarter worth about $2,725,190,000. Finally, Northern Trust Corp boosted its holdings in shares of McDonald’s by 11.2% during the 4th quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant’s stock worth $2,570,511,000 after buying an additional 895,896 shares during the period. Institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total value of $270,920.28. Following the sale, the insider owned 10,222 shares in the company, valued at $2,949,251.44. This trade represents a 8.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 2,817 shares of company stock valued at $865,843 in the last quarter. Company insiders own 0.25% of the company’s stock.

McDonald’s Trading Down 0.3%

Shares of NYSE:MCD opened at $293.80 on Friday. The firm has a 50 day moving average of $306.11 and a 200-day moving average of $302.36. The stock has a market capitalization of $210.08 billion, a PE ratio of 25.93, a PEG ratio of 3.07 and a beta of 0.53. McDonald’s Corporation has a 12 month low of $243.53 and a 12 month high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting the consensus estimate of $2.67. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. During the same quarter in the prior year, the firm earned $2.70 EPS. The firm’s revenue was down 3.5% compared to the same quarter last year. On average, research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $1.77 dividend. The ex-dividend date was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.41%. McDonald’s’s dividend payout ratio is currently 62.49%.

Wall Street Analyst Weigh In

MCD has been the subject of several research analyst reports. Citigroup lifted their target price on shares of McDonald’s from $353.00 to $364.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Truist Financial set a $350.00 target price on shares of McDonald’s in a report on Friday, May 2nd. Loop Capital downgraded shares of McDonald’s from a “buy” rating to a “hold” rating and reduced their target price for the stock from $346.00 to $315.00 in a report on Friday, June 6th. KeyCorp cut their price objective on shares of McDonald’s from $340.00 to $325.00 and set an “overweight” rating for the company in a report on Monday, June 30th. Finally, TD Securities reissued a “hold” rating and issued a $305.00 price objective on shares of McDonald’s in a report on Thursday, June 5th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $321.17.

About McDonald’s

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.