King Luther Capital Management Corp Has $9.36 Million Stock Holdings in McDonald’s Co. (NYSE:MCD)

King Luther Capital Management Corp reduced its position in shares of McDonald’s Co. (NYSE:MCD) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,731 shares of the fast-food giant’s stock after selling 246 shares during the period. King Luther Capital Management Corp’s holdings in McDonald’s were worth $9,358,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kings Path Partners LLC acquired a new position in McDonald’s during the second quarter worth about $38,000. Hara Capital LLC acquired a new position in McDonald’s during the 3rd quarter worth approximately $44,000. Peterson Financial Group Inc. bought a new position in McDonald’s in the 3rd quarter valued at approximately $58,000. Opal Wealth Advisors LLC acquired a new stake in McDonald’s in the second quarter valued at approximately $59,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of McDonald’s during the second quarter worth $65,000. 70.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McDonald’s

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the transaction, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at $900,550. This trade represents a 44.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,498 shares of company stock worth $10,381,296 in the last ninety days. 0.23% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on MCD shares. Tigress Financial lifted their price objective on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Wedbush reissued an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a research report on Wednesday, October 23rd. Loop Capital reissued a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Finally, Citigroup boosted their price target on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Trading Down 0.9 %

Shares of MCD stock opened at $288.32 on Friday. The stock has a market cap of $206.61 billion, a P/E ratio of 25.31, a P/E/G ratio of 3.87 and a beta of 0.74. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The stock has a 50 day moving average of $299.98 and a 200 day moving average of $277.91.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.19 earnings per share. On average, research analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 58.65%.

About McDonald’s

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.