McDonald’s Co. (NYSE:MCD) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its position in McDonald’s Co. (NYSE:MCD) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,737 shares of the fast-food giant’s stock after selling 965 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in McDonald’s were worth $10,381,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s in the first quarter valued at $28,000. Clear Investment Research LLC acquired a new stake in shares of McDonald’s during the fourth quarter worth $38,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of McDonald’s during the fourth quarter valued at $39,000. Kings Path Partners LLC acquired a new position in shares of McDonald’s in the 2nd quarter valued at $38,000. Finally, Accent Capital Management LLC purchased a new position in McDonald’s in the 4th quarter worth about $44,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

NYSE MCD opened at $287.93 on Friday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $302.39. The stock’s 50-day moving average is $267.95 and its two-hundred day moving average is $270.93. The firm has a market cap of $207.51 billion, a P/E ratio of 24.44, a price-to-earnings-growth ratio of 3.86 and a beta of 0.72.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $3.17 earnings per share. On average, equities analysts expect that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,291 shares of company stock worth $1,689,073. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MCD. Truist Financial reduced their price objective on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Morgan Stanley reduced their price target on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Loop Capital lowered their price objective on shares of McDonald’s from $357.00 to $342.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Evercore ISI boosted their target price on shares of McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Finally, TD Cowen cut McDonald’s from a “buy” rating to a “hold” rating and decreased their target price for the stock from $285.00 to $280.00 in a research report on Wednesday, July 31st. Eleven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $303.89.

McDonald’s 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.