Kornitzer Capital Management Inc. KS Has $10.38 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Kornitzer Capital Management Inc. KS lessened its position in shares of McDonald’s Co. (NYSE:MCD) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

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

McDonald’s Stock Performance

MCD opened at $287.93 on Friday. The company has a fifty day moving average price of $267.95 and a two-hundred day moving average price of $270.93. The firm has a market capitalization of $207.51 billion, a PE ratio of 24.44, a P/E/G ratio of 3.86 and a beta of 0.72. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $302.39.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period last year, the firm earned $3.17 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Equities analysts forecast 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. Investors of record on Tuesday, September 3rd will be given a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.32%. McDonald’s’s dividend payout ratio is 56.71%.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction 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 sale, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $387,285.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the sale, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The disclosure for this sale can be found here. Insiders have sold 6,291 shares of company stock valued at $1,689,073 in the last 90 days. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MCD. Morgan Stanley cut 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 note on Thursday, July 11th. Tigress Financial raised their target price on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday. Guggenheim upped their price target on McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Truist Financial dropped their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Finally, Barclays reduced their target price on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average price target 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.