McDonald’s Co. (NYSE:MCD) Shares Bought by Kennon Green & Company LLC

Kennon Green & Company LLC increased its position in McDonald’s Co. (NYSE:MCD) by 86.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,976 shares of the fast-food giant’s stock after acquiring an additional 3,695 shares during the period. McDonald’s makes up 1.9% of Kennon Green & Company LLC’s portfolio, making the stock its 22nd biggest position. Kennon Green & Company LLC’s holdings in McDonald’s were worth $2,033,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Gilbert & Cook Inc. increased its position in McDonald’s by 20.7% in the 4th quarter. Gilbert & Cook Inc. now owns 4,384 shares of the fast-food giant’s stock valued at $1,300,000 after acquiring an additional 753 shares during the period. Aveo Capital Partners LLC grew its stake in shares of McDonald’s by 14.5% in the fourth quarter. Aveo Capital Partners LLC now owns 1,899 shares of the fast-food giant’s stock worth $563,000 after purchasing an additional 240 shares in the last quarter. 9258 Wealth Management LLC increased its holdings in shares of McDonald’s by 4.2% during the fourth quarter. 9258 Wealth Management LLC now owns 2,796 shares of the fast-food giant’s stock valued at $829,000 after purchasing an additional 113 shares during the period. Gryphon Financial Partners LLC raised its stake in shares of McDonald’s by 99.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,892 shares of the fast-food giant’s stock valued at $1,722,000 after purchasing an additional 2,935 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC acquired a new stake in McDonald’s in the fourth quarter worth about $39,000. 70.29% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the transaction, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now owns 13,681 shares in the company, valued at approximately $3,557,060. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the transaction, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The disclosure for this sale can be found here. Insiders sold a total of 6,291 shares of company stock worth $1,689,073 in the last three months. 0.23% of the stock is owned by insiders.

McDonald’s Stock Performance

MCD stock opened at $296.53 on Friday. The stock has a market cap of $213.70 billion, a P/E ratio of 25.17, a P/E/G ratio of 3.88 and a beta of 0.72. The firm has a 50 day simple moving average of $272.89 and a 200 day simple moving average of $270.64. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $302.39.

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

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Analyst Upgrades and Downgrades

A number of research firms have commented on MCD. Guggenheim upped their price target on shares of McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Morgan Stanley cut their target price on McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Jefferies Financial Group lifted their price target on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Truist Financial cut their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Finally, Loop Capital reiterated a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a research report on Tuesday, September 10th. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.37.

About McDonald’s

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.