McDonald's Corporation (NYSE:MCD) Shares Sold by Everett Harris & Co. CA

Key Points

• Everett Harris & Co. CA reduced its position in McDonald's by 0.6%, owning 403,473 shares worth approximately $126 million as of the end of the most recent quarter.
• McDonald's reported $3.19 earnings per share (EPS) for the latest quarter, exceeding expectations of $3.15 EPS, with revenues of $6.84 billion.
• The company announced a quarterly dividend of $1.77 per share, set to be paid on September 16th, with a yield of 2.3%.

Everett Harris & Co. CA lowered its position in McDonald's Corporation (NYSE:MCD - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 403,473 shares of the fast-food giant's stock after selling 2,540 shares during the period. McDonald's makes up approximately 1.6% of Everett Harris & Co. CA's investment portfolio, making the stock its 13th biggest holding. Everett Harris & Co. CA owned approximately 0.06% of McDonald's worth $126,033,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MCD. Mascagni Wealth Management Inc. purchased a new position in McDonald's during the 4th quarter worth $25,000. Pinney & Scofield Inc. bought a new position in McDonald's in the fourth quarter worth approximately $29,000. GKV Capital Management Co. Inc. bought a new position in McDonald's in the fourth quarter worth approximately $30,000. Abound Financial LLC bought a new position in McDonald's in the first quarter worth approximately $30,000. Finally, Copia Wealth Management bought a new position in McDonald's in the fourth quarter worth approximately $31,000. Institutional investors own 70.29% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on MCD shares. Redburn Atlantic reissued a "sell" rating and issued a $260.00 price objective (down previously from $319.00) on shares of McDonald's in a research note on Tuesday, June 10th. The Goldman Sachs Group raised shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price objective for the company in a research note on Thursday, July 10th. Morgan Stanley lifted their price target on shares of McDonald's from $324.00 to $326.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. TD Cowen lifted their price target on shares of McDonald's from $305.00 to $315.00 and gave the stock a "hold" rating in a report on Wednesday. Finally, TD Securities reaffirmed a "hold" rating and issued a $305.00 price target on shares of McDonald's in a report on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $326.87.

Insider Buying and Selling at McDonald's

In other McDonald's news, CMO Edith Morgan Flatley sold 976 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $303.50, for a total value of $296,216.00. Following the completion of the transaction, the chief marketing officer owned 7,882 shares in the company, valued at approximately $2,392,187. This represents a 11.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the transaction, the executive vice president owned 8,754 shares of the company's stock, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,280 shares of company stock valued at $2,215,178. 0.25% of the stock is owned by insiders.

McDonald's Price Performance

NYSE:MCD traded down $2.29 during mid-day trading on Friday, hitting $305.62. The company's stock had a trading volume of 2,621,959 shares, compared to its average volume of 3,681,905. McDonald's Corporation has a 1 year low of $265.33 and a 1 year high of $326.32. The stock has a market cap of $218.09 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 3.19 and a beta of 0.52. The business's fifty day moving average is $298.57 and its two-hundred day moving average is $304.49.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating the consensus estimate of $3.15 by $0.04. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same period in the prior year, the company earned $2.97 earnings per share. The firm's revenue was up 5.4% on a year-over-year basis. Analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's dividend payout ratio is presently 60.67%.

McDonald's Profile

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.