L.M. Kohn & Company Sells 1,217 Shares of McDonald’s Corporation $MCD

L.M. Kohn & Company lowered its stake in shares of McDonald’s Corporation (NYSE:MCD) by 19.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,996 shares of the fast-food giant’s stock after selling 1,217 shares during the period. L.M. Kohn & Company’s holdings in McDonald’s were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First American Trust FSB raised its position in McDonald’s by 55.9% in the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock valued at $11,532,000 after buying an additional 13,234 shares during the last quarter. Banque Transatlantique SA raised its position in McDonald’s by 58.0% in the 1st quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock valued at $71,829,000 after buying an additional 91,313 shares during the last quarter. Hamilton Capital LLC raised its position in McDonald’s by 35.2% in the 1st quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock valued at $982,000 after buying an additional 819 shares during the last quarter. Welch Group LLC raised its position in McDonald’s by 1.1% in the 2nd quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock valued at $60,188,000 after buying an additional 2,180 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in McDonald’s by 5.6% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant’s stock valued at $107,867,000 after buying an additional 18,393 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. BMO Capital Markets lifted their target price on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Stifel Nicolaus lifted their target price on McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research report on Friday, August 22nd. Citigroup dropped their target price on McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, October 21st. Truist Financial dropped their target price on McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Finally, Mizuho initiated coverage on McDonald’s in a research report on Monday. They set a “neutral” rating and a $300.00 price target on the stock. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $323.43.

McDonald’s Trading Down 1.0%

MCD stock opened at $306.79 on Wednesday. The firm has a market capitalization of $218.93 billion, a PE ratio of 26.29, a PEG ratio of 3.31 and a beta of 0.50. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The business’s 50 day simple moving average is $306.44 and its 200 day simple moving average is $305.71.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.97 EPS. As a group, sell-side analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $1.86 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. This represents a $7.44 annualized dividend and a yield of 2.4%. McDonald’s’s dividend payout ratio is presently 60.67%.

Insider Activity at McDonald’s

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction on 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 in the company, valued at $2,160,270. The trade was a 12.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the sale, the executive vice president 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 SEC filing for this sale provides additional information. Insiders sold 5,463 shares of company stock worth $1,692,186 in the last ninety days. 0.25% of the stock is owned by company 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.