Envestnet Portfolio Solutions Inc. Decreases Stake in McDonald’s Corporation $MCD

Envestnet Portfolio Solutions Inc. reduced its stake in McDonald’s Corporation (NYSE:MCD) by 44.2% during the second quarter, Holdings Channel.com reports. The firm owned 16,858 shares of the fast-food giant’s stock after selling 13,336 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in McDonald’s were worth $4,925,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Nuveen LLC purchased a new position in shares of McDonald’s during the first quarter valued at approximately $1,324,961,000. Price T Rowe Associates Inc. MD increased its stake in shares of McDonald’s by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after buying an additional 1,344,954 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of McDonald’s by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after buying an additional 815,768 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of McDonald’s by 732.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock valued at $203,211,000 after buying an additional 572,408 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of McDonald’s by 204.8% during the second quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock valued at $177,390,000 after buying an additional 407,982 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the transaction, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares in the company, valued at approximately $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,402 shares of company stock valued at $1,973,407. Company insiders own 0.25% of the company’s stock.

McDonald’s Trading Up 0.2%

McDonald’s stock opened at $305.04 on Thursday. The business’s fifty day simple moving average is $306.29 and its two-hundred day simple moving average is $305.63. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The company has a market capitalization of $217.68 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 3.21 and a beta of 0.50.

McDonald’s (NYSE:MCD) last released its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the previous year, the company posted $2.97 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s dividend payout ratio is presently 60.67%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MCD shares. Barclays boosted their target price on McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Guggenheim reduced their target price on McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a research note on Friday, October 10th. Bank of America reduced their target price on McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a research note on Friday, July 18th. Melius assumed coverage on McDonald’s in a research note on Monday, July 14th. They issued a “sell” rating and a $250.00 price target on the stock. Finally, Royal Bank Of Canada assumed coverage on McDonald’s in a research note on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price target on the stock. Eleven investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, McDonald’s has an average rating of “Hold” and a consensus target price of $324.73.

McDonald’s Company 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.