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

Everett Harris & Co. CA lowered its holdings in McDonald’s Corporation (NYSE:MCD) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 397,832 shares of the fast-food giant’s stock after selling 3,560 shares during the quarter. McDonald’s comprises about 1.5% of Everett Harris & Co. CA’s investment portfolio, making the stock its 14th largest position. Everett Harris & Co. CA owned 0.06% of McDonald’s worth $120,897,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Norges Bank bought a new stake in McDonald’s during the 2nd quarter worth about $2,780,712,000. Laurel Wealth Advisors LLC lifted its position in shares of 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 in the last quarter. Soundwatch Capital LLC bought a new stake in shares of McDonald’s during the second quarter valued at approximately $1,412,069,000. Viking Global Investors LP increased its holdings in shares of McDonald’s by 171.7% in the second quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock valued at $913,157,000 after purchasing an additional 1,974,998 shares in the last quarter. Finally, Amundi raised its position in McDonald’s by 96.0% in the 2nd quarter. Amundi now owns 4,032,676 shares of the fast-food giant’s stock worth $1,188,147,000 after purchasing an additional 1,974,751 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of MCD stock opened at $315.17 on Friday. The stock has a market cap of $224.44 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 3.16 and a beta of 0.53. The stock has a 50-day moving average of $309.64 and a 200-day moving average of $306.32. McDonald’s Corporation has a one year low of $283.47 and a one year high of $326.32.

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

Insider Activity

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,486 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $320.00, for a total value of $795,520.00. Following the completion of the transaction, the executive vice president directly owned 6,268 shares of the company’s stock, valued at approximately $2,005,760. The trade was a 28.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 3,195 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $305.82, for a total value of $977,094.90. Following the completion of the sale, the insider owned 6,088 shares of the company’s stock, valued at $1,861,832.16. This trade represents a 34.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 45,142 shares of company stock valued at $13,841,169. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on MCD. Wells Fargo & Company lifted their target price on McDonald’s from $340.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. TD Cowen reiterated a “hold” rating on shares of McDonald’s in a report on Thursday, January 8th. Oppenheimer raised McDonald’s from a “market perform” rating to an “outperform” rating and set a $355.00 price objective for the company in a report on Tuesday, January 6th. Citigroup cut their target price on shares of McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, October 21st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of McDonald’s in a research note on Friday, October 31st. Thirteen analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, McDonald’s has a consensus rating of “Hold” and a consensus target price of $328.88.

McDonald’s Profile

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.