Adell Harriman & Carpenter Inc. Sells 167 Shares of McDonald’s Co. (NYSE:MCD)

Adell Harriman & Carpenter Inc. decreased its position in shares of McDonald’s Co. (NYSE:MCD) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,408 shares of the fast-food giant’s stock after selling 167 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in McDonald’s were worth $10,499,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Bell Private Wealth Management LLC boosted its position in shares of McDonald’s by 51.9% during the third quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock valued at $32,000 after buying an additional 42 shares during the period. Spartan Planning & Wealth Management bought a new stake in shares of McDonald’s during the third quarter worth $33,000. Keener Financial Planning LLC purchased a new stake in shares of McDonald’s during the fourth quarter valued at $39,000. Bear Mountain Capital Inc. purchased a new position in McDonald’s in the 4th quarter worth about $43,000. Finally, Mendota Financial Group LLC bought a new stake in McDonald’s during the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares in the company, valued at $4,696,517.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the sale, the insider now directly owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

McDonald’s stock traded up $0.46 during midday trading on Monday, hitting $273.55. 3,150,087 shares of the company were exchanged, compared to its average volume of 3,269,806. McDonald’s Co. has a fifty-two week low of $245.73 and a fifty-two week high of $302.39. The business has a fifty day simple moving average of $281.68 and a two-hundred day simple moving average of $281.96. The firm has a market capitalization of $197.23 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 2.98 and a beta of 0.71.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, February 5th. The fast-food giant reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.12. The company had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.45 billion. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. McDonald’s’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.59 EPS. As a group, equities analysts expect that McDonald’s Co. will post 12.34 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $1.67 dividend. The ex-dividend date was Thursday, February 29th. This represents a $6.68 annualized dividend and a dividend yield of 2.44%. McDonald’s’s dividend payout ratio (DPR) is 57.74%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MCD shares. Evercore ISI reissued an “outperform” rating and issued a $330.00 price objective on shares of McDonald’s in a research note on Wednesday, March 27th. Truist Financial reduced their price objective on shares of McDonald’s from $345.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Oppenheimer reaffirmed a “market perform” rating on shares of McDonald’s in a research report on Friday, January 5th. Stephens reissued an “overweight” rating and issued a $320.00 price target on shares of McDonald’s in a research report on Monday, February 5th. Finally, TD Cowen reaffirmed a “buy” rating and set a $325.00 price objective on shares of McDonald’s in a research report on Wednesday, April 10th. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $318.41.

About McDonald’s

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.