Kennon Green & Company LLC Raises Holdings in McDonald’s Corporation $MCD

Kennon Green & Company LLC increased its position in McDonald’s Corporation (NYSE:MCD) by 0.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 8,795 shares of the fast-food giant’s stock after purchasing an additional 60 shares during the period. McDonald’s accounts for about 2.1% of Kennon Green & Company LLC’s holdings, making the stock its 19th biggest holding. Kennon Green & Company LLC’s holdings in McDonald’s were worth $2,616,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MCD. Mutual Advisors LLC lifted its stake in McDonald’s by 0.7% in the second quarter. Mutual Advisors LLC now owns 14,184 shares of the fast-food giant’s stock valued at $4,233,000 after buying an additional 100 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of McDonald’s by 9.9% in the 2nd quarter. Ritholtz Wealth Management now owns 14,869 shares of the fast-food giant’s stock valued at $4,344,000 after acquiring an additional 1,344 shares during the period. Triton Wealth Management PLLC acquired a new position in shares of McDonald’s in the 2nd quarter valued at $219,000. Sterling Financial Planning Inc. raised its position in McDonald’s by 5.3% in the 2nd quarter. Sterling Financial Planning Inc. now owns 1,000 shares of the fast-food giant’s stock valued at $292,000 after purchasing an additional 50 shares during the last quarter. Finally, Harbour Investments Inc. boosted its stake in McDonald’s by 12.1% during the 2nd quarter. Harbour Investments Inc. now owns 19,364 shares of the fast-food giant’s stock worth $5,657,000 after purchasing an additional 2,088 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 1.5%

NYSE:MCD opened at $304.59 on Wednesday. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The firm’s fifty day simple moving average is $306.34 and its 200-day simple moving average is $305.63. The stock 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.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the previous year, the firm earned $2.97 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. Equities analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 60.67%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MCD shares. The Goldman Sachs Group upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective on the stock in a research note on Thursday, July 10th. Barclays upped their price objective on McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Citigroup increased their price objective on McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. JPMorgan Chase & Co. boosted their target price on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $335.00 price target (up from $325.00) on shares of McDonald’s in a report on Thursday, August 7th. Eleven analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $324.73.

Insider Transactions at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the transaction, the executive vice president owned 8,754 shares of the company’s stock, valued at $2,713,740. The trade was a 22.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,402 shares of company stock valued at $1,973,407. Company insiders own 0.25% of the company’s stock.

McDonald’s Company Profile

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.