Kayne Anderson Rudnick Investment Management LLC Increases Stock Position in McDonald’s Co. (NYSE:MCD)

Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of McDonald’s Co. (NYSE:MCD) by 10.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 68,939 shares of the fast-food giant’s stock after buying an additional 6,506 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in McDonald’s were worth $17,568,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Hantz Financial Services Inc. purchased a new stake in McDonald’s during the 2nd quarter valued at $6,612,000. California State Teachers Retirement System raised its stake in McDonald’s by 1.4% during the 4th quarter. California State Teachers Retirement System now owns 1,180,928 shares of the fast-food giant’s stock valued at $350,157,000 after buying an additional 15,863 shares during the last quarter. Brevan Howard Capital Management LP raised its stake in McDonald’s by 411.4% during the 4th quarter. Brevan Howard Capital Management LP now owns 7,497 shares of the fast-food giant’s stock valued at $2,223,000 after buying an additional 6,031 shares during the last quarter. BNP Paribas purchased a new stake in McDonald’s during the 1st quarter valued at $7,898,000. Finally, First Long Island Investors LLC raised its stake in McDonald’s by 16.6% during the 1st quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock valued at $15,231,000 after buying an additional 7,707 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Trading Up 1.0 %

Shares of NYSE MCD opened at $296.83 on Friday. The firm’s 50-day moving average price is $277.30 and its 200-day moving average price is $270.73. The stock has a market capitalization of $213.92 billion, a price-to-earnings ratio of 25.20, a P/E/G ratio of 3.88 and a beta of 0.72. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $302.39.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.17 earnings per share. On average, equities analysts predict that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Tuesday, September 3rd. McDonald’s’s dividend payout ratio is 56.71%.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of recent research reports. Wedbush reissued an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research report on Monday, July 29th. Truist Financial cut their price objective on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Evercore ISI boosted their price objective on shares of McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group boosted their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and an average target price of $306.11.

Insider Activity

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction 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. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,193 shares of company stock worth $1,403,593. 0.23% of the stock is currently owned by corporate insiders.

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.