Kingfisher Capital LLC Has $615,000 Stock Holdings in McDonald’s Co. (NYSE:MCD)

Kingfisher Capital LLC cut its holdings in McDonald’s Co. (NYSE:MCD) by 19.3% in the third quarter, HoldingsChannel reports. The firm owned 2,021 shares of the fast-food giant’s stock after selling 483 shares during the period. Kingfisher Capital LLC’s holdings in McDonald’s were worth $615,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCD. International Assets Investment Management LLC grew its position in McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after buying an additional 2,311,721 shares in the last quarter. Mondrian Investment Partners LTD acquired a new stake in shares of McDonald’s during the 2nd quarter worth approximately $110,321,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in McDonald’s in the third quarter valued at about $121,254,000. Ameriprise Financial Inc. raised its holdings in McDonald’s by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after purchasing an additional 354,196 shares during the period. Finally, Westwood Holdings Group Inc. grew its position in shares of McDonald’s by 3,846.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 273,640 shares of the fast-food giant’s stock valued at $69,734,000 after purchasing an additional 266,707 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Price Performance

NYSE:MCD opened at $295.08 on Friday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The business has a 50 day moving average of $299.98 and a 200 day moving average of $278.78. The company has a market capitalization of $211.46 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 3.92 and a beta of 0.74.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the company earned $3.19 earnings per share. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is currently 58.65%.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $298.57, for a total transaction of $328,128.43. Following the completion of the transaction, the insider now owns 11,484 shares in the company, valued at approximately $3,428,777.88. This represents a 8.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,597 shares of company stock valued at $10,702,754 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on MCD shares. The Goldman Sachs Group lifted their price target on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Robert W. Baird lowered McDonald’s from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. TD Cowen restated a “hold” rating and set a $300.00 price target on shares of McDonald’s in a report on Tuesday, October 29th. Finally, Morgan Stanley boosted their price target on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $319.46.

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.