Kornitzer Capital Management Inc. KS Lowers Stock Holdings in Mcdonald’s Corp (NYSE:MCD)

Kornitzer Capital Management Inc. KS trimmed its stake in Mcdonald’s Corp (NYSE:MCD) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 232,377 shares of the fast-food giant’s stock after selling 10,515 shares during the period. Mcdonald’s makes up approximately 0.9% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 20th biggest holding. Kornitzer Capital Management Inc. KS’s holdings in Mcdonald’s were worth $48,255,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Litman Gregory Asset Management LLC bought a new position in Mcdonald’s during the second quarter valued at approximately $27,000. Atlas Capital Advisors LLC boosted its stake in shares of Mcdonald’s by 330.3% during the second quarter. Atlas Capital Advisors LLC now owns 142 shares of the fast-food giant’s stock valued at $29,000 after purchasing an additional 109 shares during the period. Westside Investment Management Inc. purchased a new stake in Mcdonald’s in the second quarter worth $34,000. Aspire Private Capital LLC purchased a new stake in Mcdonald’s in the fourth quarter worth $32,000. Finally, Canton Hathaway LLC purchased a new stake in Mcdonald’s in the first quarter worth $35,000. Institutional investors own 68.21% of the company’s stock.

Shares of MCD stock traded up $2.74 during mid-day trading on Tuesday, reaching $219.90. The stock had a trading volume of 87,802 shares, compared to its average volume of 3,215,068. The business has a fifty day moving average of $212.79. The company has a market cap of $167.95 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 3.17 and a beta of 0.49. Mcdonald’s Corp has a 1-year low of $156.56 and a 1-year high of $221.93.

Mcdonald’s (NYSE:MCD) last posted its earnings results on Friday, July 26th. The fast-food giant reported $2.05 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.01). The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.34 billion. Mcdonald’s had a negative return on equity of 92.02% and a net margin of 28.32%. The firm’s revenue was down .2% on a year-over-year basis. During the same period last year, the business earned $1.99 earnings per share. Sell-side analysts forecast that Mcdonald’s Corp will post 8 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $1.16 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $4.64 annualized dividend and a dividend yield of 2.11%. Mcdonald’s’s dividend payout ratio (DPR) is presently 58.73%.

MCD has been the subject of a number of research analyst reports. BMO Capital Markets raised their price target on Mcdonald’s to $230.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. BTIG Research raised their price target on Mcdonald’s to $220.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Jefferies Financial Group raised their price target on Mcdonald’s from $225.00 to $230.00 and gave the company a “buy” rating in a report on Friday, June 28th. SunTrust Banks lifted their price objective on Mcdonald’s to $230.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Morgan Stanley lifted their price objective on Mcdonald’s from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Eight equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $220.23.

In other Mcdonald’s news, EVP Silvia Lagnado sold 26,649 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $212.58, for a total transaction of $5,665,044.42. Following the completion of the sale, the executive vice president now owns 40,129 shares of the company’s stock, valued at $8,530,622.82. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ian Frederick Borden sold 4,149 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $199.22, for a total value of $826,563.78. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Mcdonald’s Profile

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2018, the company operated 37,855 restaurants, including 35,085 franchised restaurants comprising 21,685 franchised to conventional franchisees, 7,225 licensed to developmental licensees, and 6,175 licensed to foreign affiliates; and 2,770 company-operated restaurants.

Read More: What does a hold rating mean?

Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mcdonald’s Corp (NYSE:MCD).

Institutional Ownership by Quarter for Mcdonald`s (NYSE:MCD)

Receive News & Ratings for Mcdonald's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mcdonald's and related companies with MarketBeat.com's FREE daily email newsletter.