Kornitzer Capital Management Inc. KS Sells 1,587 Shares of McDonald’s Co. (NYSE:MCD)

Kornitzer Capital Management Inc. KS decreased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,475 shares of the fast-food giant’s stock after selling 1,587 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in McDonald’s were worth $12,298,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCD. J.W. Cole Advisors Inc. raised its position in shares of McDonald’s by 13.3% in the 4th quarter. J.W. Cole Advisors Inc. now owns 18,744 shares of the fast-food giant’s stock worth $5,558,000 after acquiring an additional 2,203 shares in the last quarter. Heirloom Wealth Management raised its position in shares of McDonald’s by 2.0% in the 4th quarter. Heirloom Wealth Management now owns 27,947 shares of the fast-food giant’s stock worth $8,287,000 after acquiring an additional 561 shares in the last quarter. Onyx Bridge Wealth Group LLC raised its position in shares of McDonald’s by 16.0% in the 4th quarter. Onyx Bridge Wealth Group LLC now owns 1,238 shares of the fast-food giant’s stock worth $367,000 after acquiring an additional 171 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of McDonald’s in the 4th quarter worth approximately $60,000. Finally, Zhang Financial LLC raised its position in shares of McDonald’s by 2.7% in the 4th quarter. Zhang Financial LLC now owns 2,947 shares of the fast-food giant’s stock worth $874,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the transaction, the insider now directly owns 18,075 shares in the company, valued at $5,140,168.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Robert W. Baird reissued an “outperform” rating and issued a $315.00 target price on shares of McDonald’s in a research report on Tuesday, February 6th. Stephens restated an “overweight” rating and issued a $320.00 price target on shares of McDonald’s in a research note on Monday, February 5th. BTIG Research downgraded McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. StockNews.com downgraded McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Stifel Nicolaus cut their price target on McDonald’s from $315.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $319.72.

McDonald’s Price Performance

Shares of MCD traded up $1.01 during trading hours on Friday, hitting $271.99. The stock had a trading volume of 3,017,097 shares, compared to its average volume of 3,163,395. McDonald’s Co. has a 12 month low of $245.73 and a 12 month high of $302.39. The firm has a market capitalization of $196.11 billion, a PE ratio of 23.51, a PEG ratio of 2.98 and a beta of 0.71. The stock has a fifty day moving average price of $283.10 and a 200 day moving average price of $280.72.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, February 5th. The fast-food giant reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.12. The company had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.45 billion. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. McDonald’s’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.59 earnings per share. As a group, analysts anticipate that McDonald’s Co. will post 12.33 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $6.68 annualized dividend and a yield of 2.46%. McDonald’s’s dividend payout ratio (DPR) is presently 57.74%.

McDonald’s Company Profile

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.