Kovack Advisors Inc. Trims Holdings in McDonald’s Corporation $MCD

Kovack Advisors Inc. reduced its position in McDonald’s Corporation (NYSE:MCD) by 23.1% in the third quarter, HoldingsChannel.com reports. The firm owned 6,149 shares of the fast-food giant’s stock after selling 1,845 shares during the period. Kovack Advisors Inc.’s holdings in McDonald’s were worth $1,869,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Decker Retirement Planning Inc. raised its holdings in McDonald’s by 142.9% during the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after acquiring an additional 50 shares during the period. Legacy Investment Solutions LLC purchased a new stake in shares of McDonald’s during the second quarter worth about $25,000. Evergreen Private Wealth LLC raised its stake in McDonald’s by 162.5% during the 3rd quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock valued at $26,000 after purchasing an additional 52 shares during the period. Financial Gravity Companies Inc. bought a new stake in McDonald’s during the 2nd quarter valued at approximately $29,000. Finally, Traub Capital Management LLC purchased a new position in McDonald’s in the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on MCD. Mizuho lifted their price objective on shares of McDonald’s from $300.00 to $325.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Truist Financial lifted their price objective on McDonald’s from $356.00 to $370.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. KeyCorp raised their target price on shares of McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Jefferies Financial Group boosted their price target on shares of McDonald’s from $360.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Finally, TD Cowen reiterated a “hold” rating and set a $320.00 price objective on shares of McDonald’s in a research report on Thursday, February 12th. Sixteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $337.04.

Insider Buying and Selling at McDonald’s

In other news, EVP Manuel Jm Steijaert sold 6,567 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $305.50, for a total transaction of $2,006,218.50. Following the completion of the sale, the executive vice president directly owned 4,606 shares of the company’s stock, valued at approximately $1,407,133. The trade was a 58.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 2,486 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $320.00, for a total value of $795,520.00. Following the transaction, the executive vice president owned 6,268 shares in the company, valued at approximately $2,005,760. This represents a 28.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 71,550 shares of company stock valued at $23,484,957. 0.25% of the stock is owned by company insiders.

McDonald’s Trading Down 0.2%

McDonald’s stock opened at $327.29 on Friday. McDonald’s Corporation has a 12-month low of $283.47 and a 12-month high of $335.67. The firm has a 50-day moving average price of $314.41 and a 200-day moving average price of $308.96. The firm has a market capitalization of $233.08 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 2.91 and a beta of 0.52.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, February 11th. The fast-food giant reported $3.12 earnings per share for the quarter, topping analysts’ consensus estimates of $3.05 by $0.07. McDonald’s had a net margin of 31.85% and a negative return on equity of 343.90%. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same period in the prior year, the company posted $2.83 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 3rd will be given a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, March 3rd. McDonald’s’s dividend payout ratio is 62.26%.

About McDonald’s

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.