Adams Diversified Equity Fund Inc. Has $25 Million Holdings in McDonald’s Co. (NYSE:MCD)

Adams Diversified Equity Fund Inc. lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 12.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 82,100 shares of the fast-food giant’s stock after selling 11,300 shares during the quarter. McDonald’s accounts for approximately 0.9% of Adams Diversified Equity Fund Inc.’s holdings, making the stock its 26th largest holding. Adams Diversified Equity Fund Inc.’s holdings in McDonald’s were worth $25,000,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Pathway Financial Advisers LLC raised its stake in McDonald’s by 1.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 11,889 shares of the fast-food giant’s stock worth $3,620,000 after buying an additional 142 shares during the period. Avitas Wealth Management LLC increased its holdings in McDonald’s by 1.3% during the 3rd quarter. Avitas Wealth Management LLC now owns 21,533 shares of the fast-food giant’s stock worth $6,557,000 after purchasing an additional 270 shares in the last quarter. Childress Capital Advisors LLC increased its holdings in McDonald’s by 7.0% during the 3rd quarter. Childress Capital Advisors LLC now owns 1,754 shares of the fast-food giant’s stock worth $534,000 after purchasing an additional 114 shares in the last quarter. Lodestar Private Asset Management LLC increased its holdings in McDonald’s by 9.0% during the 3rd quarter. Lodestar Private Asset Management LLC now owns 2,344 shares of the fast-food giant’s stock worth $714,000 after purchasing an additional 193 shares in the last quarter. Finally, Fidelis Capital Partners LLC increased its holdings in McDonald’s by 0.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 6,869 shares of the fast-food giant’s stock worth $2,051,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock worth $10,256,818 over the last three months. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MCD. Tigress Financial increased their target price on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Wedbush reiterated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a report on Wednesday, October 23rd. UBS Group increased their target price on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Evercore ISI raised their price objective on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Finally, Bank of America raised their price objective on McDonald’s from $308.00 to $322.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Thirteen investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $318.22.

McDonald’s Stock Down 0.6 %

Shares of MCD stock opened at $295.03 on Wednesday. The firm has a 50 day moving average price of $298.15 and a two-hundred day moving average price of $275.35. The company has a market capitalization of $211.64 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 4.13 and a beta of 0.73. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $3.19 earnings per share. As a group, research analysts expect that McDonald’s Co. will post 11.73 EPS for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.40%. McDonald’s’s dividend payout ratio (DPR) is 61.94%.

About McDonald’s

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.