Envestnet Portfolio Solutions Inc. Sells 440 Shares of McDonald’s Co. (NYSE:MCD)

Envestnet Portfolio Solutions Inc. reduced its stake in McDonald’s Co. (NYSE:MCD) by 1.1% in the 4th quarter, HoldingsChannel reports. The firm owned 38,181 shares of the fast-food giant’s stock after selling 440 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in McDonald’s were worth $11,068,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boltwood Capital Management increased its position in shares of McDonald’s by 1.9% during the fourth quarter. Boltwood Capital Management now owns 1,882 shares of the fast-food giant’s stock worth $546,000 after acquiring an additional 35 shares in the last quarter. Pettee Investors Inc. increased its position in shares of McDonald’s by 0.7% during the fourth quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock worth $1,566,000 after acquiring an additional 35 shares in the last quarter. Modus Advisors LLC increased its position in shares of McDonald’s by 0.4% during the fourth quarter. Modus Advisors LLC now owns 9,396 shares of the fast-food giant’s stock worth $2,724,000 after acquiring an additional 36 shares in the last quarter. Independent Wealth Network Inc. increased its position in shares of McDonald’s by 5.1% during the fourth quarter. Independent Wealth Network Inc. now owns 736 shares of the fast-food giant’s stock worth $213,000 after acquiring an additional 36 shares in the last quarter. Finally, Blue Barn Wealth LLC increased its position in shares of McDonald’s by 4.3% during the fourth quarter. Blue Barn Wealth LLC now owns 871 shares of the fast-food giant’s stock worth $252,000 after acquiring an additional 36 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

McDonald’s Trading Up 0.8 %

Shares of MCD opened at $300.00 on Monday. The firm’s 50-day moving average price is $296.96 and its 200-day moving average price is $296.91. The firm has a market capitalization of $214.34 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 3.10 and a beta of 0.71. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. On average, research analysts forecast that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.36%. The ex-dividend date is Monday, March 3rd. McDonald’s’s payout ratio is currently 62.16%.

Insider Buying and Selling

In other news, CEO Christopher J. Kempczinski sold 10,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the transaction, the chief executive officer now owns 32,756 shares in the company, valued at approximately $10,155,997.80. This represents a 24.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 300 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the completion of the transaction, the insider now owns 7,887 shares in the company, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,504 shares of company stock valued at $10,206,575 over the last quarter. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

MCD has been the subject of several recent research reports. Wedbush boosted their target price on shares of McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. BMO Capital Markets upped their price objective on shares of McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Morgan Stanley upped their price objective on shares of McDonald’s from $336.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Truist Financial reduced their price objective on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, Piper Sandler reduced their price objective on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $323.61.

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.