Miller Howard Investments 13F: Cuts MCD Stake by $9.3M

Miller Howard Investments has reduced its stake in McDonald's Corporation (MCD) by 40,172 shares, as disclosed in a filing on October 26, 2026. The fund now holds 155,676 shares, worth approximately $35.9 million. This reduction reflects a 20.5% decrease in their holdings.

MCD McDonald's Corporation

$248.46 ▼ -16.46% year to date

1M 3M YTD

Daily close · Oct 23, 2026

Where McDonald's Fits in Miller Howard Investments' Portfolio

Miller Howard's position in McDonald's makes up about 3.34% of its total reported value of $1.08 billion. The cut in shares positions McDonald's as the 15th largest holding in the fund's portfolio.

Other Institutional Activity in McDonald's

Ag2R la Mondiale Gestion D'Actifs increased its stake in McDonald's by 16,768 shares, bringing its total to 48,006 shares valued at around $11.1 million. This move highlights continued interest in McDonald's despite Miller Howard's cut.

McDonald's Corporation Stock Up 1.0%

As of October 27, 2026, McDonald's shares trade around $250.85, which is about equal to its closing price of $250.83 on October 26. The stock is currently below its 200-day moving average of $284.26 and 26.6% below its 52-week high of $341.75.

Recent Earnings

McDonald's reported trailing twelve-month revenue of approximately $27.7 billion and an earnings per share (EPS) of $12.31. The next earnings report is scheduled for November 4, 2026, which could provide further insights into the company's performance.

Insider Buying and Selling at McDonald's Corporation

Insider trading activity includes several sales by Officer Joseph M. Erlinger, who sold 333 shares at an average price of $302.72 on April 23, 2026, and again sold 333 shares at $280.11 on May 26, 2026. Additionally, he sold 5,252 shares at $284.32 on June 10, 2026. Desiree Ann Ralls-Morrison also sold 2,763 shares at $278.36 on May 28, 2026. These transactions indicate ongoing insider selling at McDonald's.

Analysts Set New Price Targets

On October 5, 2026, Wells Fargo maintained an 'Overweight' rating on McDonald's with a price target of $270. Keybanc followed suit on October 6 with the same rating but a target of $280. Bernstein maintained a 'Market Perform' rating with a target of $250 on October 8. Citigroup kept a 'Buy' rating with a target of $295 on October 20, while BTIG reiterated its 'Buy' rating with the same target of $295 on October 26.

About McDonald's

McDonald's Corporation owns and operates restaurants worldwide, offering a range of food and beverages, including hamburgers, chicken sandwiches, and breakfast items. The company's broad menu and global presence contribute to its strong brand recognition and revenue generation.

Bottom Line

Investors should keep an eye on McDonald's upcoming earnings report on November 4, 2026, for further insights into its financial health. Additionally, the recent position change by Miller Howard Investments may reflect broader market sentiments regarding the stock's performance.