Adams Diversified Equity Fund Inc. Sells 12,000 Shares of McDonald's Corporation (NYSE:MCD)

Adams Diversified Equity Fund Inc. trimmed its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 15.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,500 shares of the fast-food giant's stock after selling 12,000 shares during the quarter. Adams Diversified Equity Fund Inc.'s holdings in McDonald's were worth $20,460,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of McDonald's by 21.6% in the fourth quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant's stock valued at $2,692,000 after acquiring an additional 1,649 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of McDonald's by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant's stock valued at $563,000 after acquiring an additional 52 shares during the period. Bank Pictet & Cie Europe AG boosted its position in shares of McDonald's by 15.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 209,464 shares of the fast-food giant's stock valued at $60,722,000 after acquiring an additional 27,774 shares during the period. GHE LLC boosted its position in shares of McDonald's by 0.9% in the fourth quarter. GHE LLC now owns 14,677 shares of the fast-food giant's stock valued at $4,255,000 after acquiring an additional 136 shares during the period. Finally, Pine Valley Investments Ltd Liability Co boosted its position in shares of McDonald's by 4.3% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 20,282 shares of the fast-food giant's stock valued at $5,880,000 after acquiring an additional 830 shares during the period. 70.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $288.52, for a total value of $270,920.28. Following the completion of the transaction, the insider now owns 10,222 shares of the company's stock, valued at $2,949,251.44. This represents a 8.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 2,817 shares of company stock valued at $865,843. 0.25% of the stock is currently owned by corporate insiders.

McDonald's Trading Up 0.7%

Shares of NYSE MCD opened at $291.50 on Wednesday. The company has a market cap of $208.43 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.02 and a beta of 0.56. McDonald's Corporation has a 12 month low of $243.53 and a 12 month high of $326.32. The stock has a 50-day moving average price of $309.60 and a two-hundred day moving average price of $302.72.

McDonald's (NYSE:MCD - Get Free Report) last issued its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting the consensus estimate of $2.67. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The business's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.70 earnings per share. On average, sell-side analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.43%. The ex-dividend date was Monday, June 2nd. McDonald's's payout ratio is 62.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird boosted their target price on shares of McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. BTIG Research reissued a "neutral" rating on shares of McDonald's in a research report on Tuesday, April 22nd. Citigroup boosted their target price on shares of McDonald's from $353.00 to $364.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Loop Capital downgraded McDonald's from a "buy" rating to a "hold" rating and dropped their price target for the company from $346.00 to $315.00 in a research note on Friday, June 6th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $345.00 price target (up previously from $340.00) on shares of McDonald's in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, McDonald's has an average rating of "Hold" and a consensus target price of $321.79.

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.

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