Kanawha Capital Management LLC Sells 1,767 Shares of McDonald’s Co. (NYSE:MCD)

Kanawha Capital Management LLC lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,038 shares of the fast-food giant’s stock after selling 1,767 shares during the quarter. McDonald’s makes up 2.0% of Kanawha Capital Management LLC’s portfolio, making the stock its 11th biggest position. Kanawha Capital Management LLC’s holdings in McDonald’s were worth $27,113,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Kings Path Partners LLC bought a new stake in McDonald’s in the second quarter valued at $38,000. Keener Financial Planning LLC boosted its holdings in McDonald’s by 32.3% in the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after acquiring an additional 43 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in McDonald’s in the second quarter valued at $59,000. Bbjs Financial Advisors LLC bought a new stake in McDonald’s in the second quarter valued at $65,000. Finally, Macroview Investment Management LLC boosted its holdings in McDonald’s by 433.3% in the second quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after acquiring an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on MCD shares. Barclays lifted their price target on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Guggenheim cut shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their target price for the company from $290.00 to $285.00 in a report on Wednesday, October 23rd. UBS Group boosted their target price on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley boosted their target price on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Finally, Baird R W cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $319.46.

Insider Activity

In other news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock valued at $10,256,818 in the last quarter. 0.23% of the stock is currently owned by insiders.

McDonald’s Stock Performance

MCD opened at $295.21 on Monday. The stock has a market capitalization of $211.77 billion, a P/E ratio of 25.92, a P/E/G ratio of 3.88 and a beta of 0.74. The company’s 50-day simple moving average is $298.36 and its two-hundred day simple moving average is $275.90. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90.

McDonald’s (NYSE:MCD) last posted its 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 178.99%. The business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the prior year, the business earned $3.19 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts forecast that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.40%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is presently 58.65%.

McDonald’s Company 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.