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

Kovack Advisors Inc. lowered its holdings in McDonald’s Corporation (NYSE:MCD) by 23.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,149 shares of the fast-food giant’s stock after selling 1,845 shares during the quarter. Kovack Advisors Inc.’s holdings in McDonald’s were worth $1,869,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in McDonald’s by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 71,647,669 shares of the fast-food giant’s stock worth $21,773,010,000 after purchasing an additional 316,638 shares in the last quarter. State Street Corp boosted its position in McDonald’s by 0.8% during the 2nd quarter. State Street Corp now owns 34,828,352 shares of the fast-food giant’s stock valued at $10,175,800,000 after acquiring an additional 272,139 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of McDonald’s by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 16,828,420 shares of the fast-food giant’s stock worth $4,901,595,000 after acquiring an additional 276,065 shares during the period. Norges Bank bought a new position in shares of McDonald’s in the 2nd quarter worth approximately $2,780,712,000. Finally, Laurel Wealth Advisors LLC lifted its stake in shares of McDonald’s by 29,382.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock valued at $1,676,339,000 after purchasing an additional 5,718,087 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 2,626 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $325.25, for a total transaction of $854,106.50. Following the completion of the sale, the insider directly owned 5,398 shares in the company, valued at $1,755,699.50. The trade was a 32.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher J. Kempczinski sold 26,277 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $331.35, for a total transaction of $8,706,883.95. Following the completion of the transaction, the chief executive officer owned 22,900 shares in the company, valued at $7,587,915. This trade represents a 53.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 71,550 shares of company stock valued at $23,484,957 in the last 90 days. Insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $327.29 on Friday. McDonald’s Corporation has a 1 year low of $283.47 and a 1 year high of $335.67. The stock’s fifty day moving average price is $314.41 and its 200-day moving average price is $308.96. The company has a market cap of $233.08 billion, a P/E ratio of 27.39, a PEG ratio of 2.91 and a beta of 0.52.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, February 11th. The fast-food giant reported $3.12 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the previous year, the company earned $2.83 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Guggenheim dropped their target price on shares of McDonald’s from $325.00 to $320.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating and set a $380.00 price objective on the stock in a report on Friday, February 13th. Citigroup lifted their target price on shares of McDonald’s from $371.00 to $375.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Jefferies Financial Group upped their price target on McDonald’s from $360.00 to $375.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Finally, Truist Financial lifted their price objective on McDonald’s from $356.00 to $370.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Sixteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $337.04.

McDonald’s Company Profile

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.