Everett Harris & Co. CA Reduces Position in McDonald’s Corporation (MCD)

Everett Harris & Co. CA lowered its position in shares of McDonald’s Corporation (NYSE:MCD) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 312,827 shares of the fast-food giant’s stock after selling 8,347 shares during the period. McDonald’s Corporation accounts for about 1.3% of Everett Harris & Co. CA’s portfolio, making the stock its 21st largest position. Everett Harris & Co. CA’s holdings in McDonald’s Corporation were worth $40,546,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCD. Investment Counsel Inc. raised its position in McDonald’s Corporation by 8.2% in the first quarter. Investment Counsel Inc. now owns 20,026 shares of the fast-food giant’s stock worth $2,596,000 after buying an additional 1,525 shares during the last quarter. Kanawha Capital Management LLC raised its position in McDonald’s Corporation by 0.7% in the first quarter. Kanawha Capital Management LLC now owns 84,651 shares of the fast-food giant’s stock worth $10,972,000 after buying an additional 574 shares during the last quarter. Shell Asset Management Co. raised its position in McDonald’s Corporation by 2.1% in the first quarter. Shell Asset Management Co. now owns 269,919 shares of the fast-food giant’s stock worth $34,984,000 after buying an additional 5,430 shares during the last quarter. Janney Montgomery Scott LLC raised its position in McDonald’s Corporation by 3.0% in the first quarter. Janney Montgomery Scott LLC now owns 125,801 shares of the fast-food giant’s stock worth $16,305,000 after buying an additional 3,634 shares during the last quarter. Finally, Adviser Investments LLC purchased a new position in McDonald’s Corporation during the first quarter worth $772,000. 67.57% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for McDonald`s Corporation (NYSE:MCD)

Shares of McDonald’s Corporation (MCD) opened at 153.14 on Tuesday. McDonald’s Corporation has a 12 month low of $110.33 and a 12 month high of $153.90. The company has a market capitalization of $124.82 billion, a price-to-earnings ratio of 27.03 and a beta of 0.68. The firm’s 50-day moving average is $148.18 and its 200 day moving average is $131.89.

McDonald’s Corporation (NYSE:MCD) last announced its quarterly earnings data on Tuesday, April 25th. The fast-food giant reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.14. McDonald’s Corporation had a net margin of 19.58% and a negative return on equity of 387.22%. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.53 billion. During the same period last year, the firm posted $1.23 EPS. The company’s revenue was down 3.9% on a year-over-year basis. Equities analysts expect that McDonald’s Corporation will post $6.39 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 19th. Shareholders of record on Monday, June 5th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Thursday, June 1st. McDonald’s Corporation’s dividend payout ratio (DPR) is currently 66.43%.

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A number of research analysts recently weighed in on the stock. Vetr lowered shares of McDonald’s Corporation from a “hold” rating to a “sell” rating and set a $146.85 price target on the stock. in a research report on Monday. Jefferies Group LLC restated a “hold” rating and set a $140.00 price objective on shares of McDonald’s Corporation in a report on Friday. Bank of America Corporation raised their price objective on shares of McDonald’s Corporation from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, June 13th. Mizuho initiated coverage on shares of McDonald’s Corporation in a report on Thursday, June 8th. They set a “buy” rating and a $168.00 price objective for the company. Finally, Credit Suisse Group restated an “outperform” rating and set a $165.00 price objective (up previously from $157.00) on shares of McDonald’s Corporation in a report on Thursday, June 8th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-one have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $145.45.

In other McDonald’s Corporation news, VP James R. Sappington sold 13,912 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $141.39, for a total transaction of $1,967,017.68. Following the completion of the sale, the vice president now directly owns 14,608 shares of the company’s stock, valued at approximately $2,065,425.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John J. Mulligan acquired 1,600 shares of the business’s stock in a transaction on Wednesday, March 22nd. The shares were bought at an average cost of $128.94 per share, with a total value of $206,304.00. Following the completion of the acquisition, the director now owns 1,600 shares in the company, valued at $206,304. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company’s stock.

McDonald’s Corporation Company Profile

McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.

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