McDonald’s Co. (NYSE:MCD) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its stake in shares of McDonald’s Co. (NYSE:MCD) by 6.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 30,977 shares of the fast-food giant’s stock after selling 2,062 shares during the quarter. King Luther Capital Management Corp’s holdings in McDonald’s were worth $7,894,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s in the first quarter valued at approximately $28,000. Clear Investment Research LLC bought a new position in shares of McDonald’s in the fourth quarter valued at approximately $38,000. Kings Path Partners LLC acquired a new position in McDonald’s in the second quarter worth $38,000. Accent Capital Management LLC acquired a new position in McDonald’s during the 4th quarter worth about $44,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of McDonald’s during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The disclosure for this sale can be found here. Insiders sold 5,193 shares of company stock worth $1,403,593 in the last ninety days. 0.23% of the stock is owned by company insiders.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $296.77 on Friday. The firm has a fifty day moving average of $277.30 and a 200 day moving average of $270.88. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $302.39. The firm has a market capitalization of $213.88 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 3.88 and a beta of 0.72.

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

McDonald’s Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays cut their price objective on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Citigroup boosted their price objective on McDonald’s from $275.00 to $301.00 and gave the company a “neutral” rating in a research report on Friday, September 13th. Bank of America dropped their price target on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Finally, Truist Financial reduced their price target on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $306.11.

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.