Kennon Green & Company LLC Boosts Stake in McDonald’s Corporation $MCD

Kennon Green & Company LLC raised its stake in shares of McDonald’s Corporation (NYSE:MCD) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,795 shares of the fast-food giant’s stock after buying an additional 60 shares during the quarter. McDonald’s comprises about 2.1% of Kennon Green & Company LLC’s investment portfolio, making the stock its 19th biggest position. Kennon Green & Company LLC’s holdings in McDonald’s were worth $2,616,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in McDonald’s by 21.6% in the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock valued at $2,692,000 after purchasing an additional 1,649 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of McDonald’s by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock valued at $563,000 after buying an additional 52 shares during the last quarter. Quotient Wealth Partners LLC lifted its stake in shares of McDonald’s by 10.9% during the first quarter. Quotient Wealth Partners LLC now owns 2,616 shares of the fast-food giant’s stock valued at $817,000 after buying an additional 258 shares during the period. SSA Swiss Advisors AG purchased a new position in shares of McDonald’s during the first quarter valued at approximately $175,000. Finally, GAMMA Investing LLC boosted its position in McDonald’s by 25.3% during the first quarter. GAMMA Investing LLC now owns 11,198 shares of the fast-food giant’s stock worth $3,498,000 after acquiring an additional 2,261 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Truist Financial cut their price target on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday. Royal Bank Of Canada started coverage on McDonald’s in a research note on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 target price for the company. KeyCorp reiterated an “overweight” rating and set a $335.00 target price (up from $325.00) on shares of McDonald’s in a research report on Thursday, August 7th. TD Cowen lifted their price target on McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, August 6th. Finally, BMO Capital Markets upped their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Eleven research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $324.73.

McDonald’s Trading Up 1.5%

MCD stock opened at $304.59 on Wednesday. The company has a market cap of $217.35 billion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 3.16 and a beta of 0.50. The stock has a 50-day moving average price of $306.34 and a two-hundred day moving average price of $305.63. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating 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 analyst estimates of $6.68 billion. During the same period in the previous year, the company posted $2.97 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. Equities analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

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

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was 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 of the company’s stock, valued at $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at $2,160,270. The trade was a 12.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,402 shares of company stock worth $1,973,407 over the last three months. 0.25% of the stock is currently owned by insiders.

About McDonald’s

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.