Everett Harris & Co. CA Sells 3,560 Shares of McDonald’s Corporation $MCD

Everett Harris & Co. CA decreased its position in McDonald’s Corporation (NYSE:MCD) by 0.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 397,832 shares of the fast-food giant’s stock after selling 3,560 shares during the period. McDonald’s makes up 1.5% of Everett Harris & Co. CA’s investment portfolio, making the stock its 14th biggest holding. Everett Harris & Co. CA’s holdings in McDonald’s were worth $120,897,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of MCD. Vanguard Group Inc. raised its position in McDonald’s by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 71,331,031 shares of the fast-food giant’s stock valued at $20,840,787,000 after buying an additional 921,936 shares during the last quarter. State Street Corp grew its stake in shares of McDonald’s by 0.8% during the 2nd quarter. State Street Corp now owns 34,828,352 shares of the fast-food giant’s stock worth $10,175,800,000 after acquiring an additional 272,139 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of McDonald’s by 1.7% in the second quarter. Geode Capital Management LLC now owns 16,828,420 shares of the fast-food giant’s stock valued at $4,901,595,000 after purchasing an additional 276,065 shares during the last quarter. Norges Bank bought a new stake in shares of McDonald’s in the second quarter worth $2,780,712,000. Finally, Laurel Wealth Advisors LLC boosted its holdings in McDonald’s by 29,382.3% during the second quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock worth $1,676,339,000 after purchasing an additional 5,718,087 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McDonald’s

In other news, CFO Ian Frederick Borden sold 17,134 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $310.00, for a total value of $5,311,540.00. Following the transaction, the chief financial officer directly owned 26,353 shares of the company’s stock, valued at $8,169,430. This represents a 39.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 3,195 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $305.82, for a total transaction of $977,094.90. Following the sale, the insider owned 6,088 shares of the company’s stock, valued at approximately $1,861,832.16. This represents a 34.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 45,142 shares of company stock valued at $13,841,169 in the last ninety days. Company insiders own 0.25% of the company’s stock.

McDonald’s Stock Up 0.8%

NYSE:MCD opened at $315.17 on Friday. McDonald’s Corporation has a 12-month low of $283.47 and a 12-month high of $326.32. The firm has a market capitalization of $224.44 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 3.16 and a beta of 0.53. The stock’s 50 day moving average price is $309.64 and its two-hundred day moving average price is $306.32.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The business had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period in the previous year, the firm posted $3.23 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Guggenheim lifted their price target on shares of McDonald’s from $295.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a research report on Friday, October 31st. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a research report on Friday, October 24th. Mizuho raised McDonald’s to a “hold” rating in a research report on Tuesday, October 28th. Finally, Robert W. Baird upped their price objective on McDonald’s from $322.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Thirteen research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s presently has a consensus rating of “Hold” and an average price target of $328.88.

About McDonald’s

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.