Kanawha Capital Management LLC Purchases 957 Shares of McDonald's Corporation (NYSE:MCD)

Kanawha Capital Management LLC increased its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 1.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,005 shares of the fast-food giant's stock after buying an additional 957 shares during the period. McDonald's accounts for 2.2% of Kanawha Capital Management LLC's holdings, making the stock its 11th biggest holding. Kanawha Capital Management LLC's holdings in McDonald's were worth $27,803,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its stake in McDonald's by 21.6% in the fourth quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant's stock valued at $2,692,000 after purchasing an additional 1,649 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in McDonald's by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant's stock valued at $563,000 after purchasing an additional 52 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in McDonald's by 15.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 209,464 shares of the fast-food giant's stock valued at $60,722,000 after purchasing an additional 27,774 shares in the last quarter. GHE LLC increased its stake in McDonald's by 0.9% in the fourth quarter. GHE LLC now owns 14,677 shares of the fast-food giant's stock valued at $4,255,000 after purchasing an additional 136 shares in the last quarter. Finally, Global Strategic Investment Solutions LLC increased its stake in McDonald's by 42.6% in the fourth quarter. Global Strategic Investment Solutions LLC now owns 940 shares of the fast-food giant's stock valued at $272,000 after purchasing an additional 281 shares in the last quarter. Institutional investors own 70.29% of the company's stock.

McDonald's Stock Performance

MCD traded down $0.83 during midday trading on Friday, reaching $293.80. The company had a trading volume of 1,678,645 shares, compared to its average volume of 3,538,951. The stock has a market cap of $210.08 billion, a PE ratio of 25.93, a P/E/G ratio of 3.07 and a beta of 0.53. McDonald's Corporation has a 12-month low of $243.53 and a 12-month high of $326.32. The business has a 50-day moving average price of $306.11 and a two-hundred day moving average price of $302.44.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.67. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same quarter in the previous year, the firm posted $2.70 earnings per share. The company's quarterly revenue was down 3.5% compared to the same quarter last year. On average, research analysts anticipate that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald's's dividend payout ratio (DPR) is currently 62.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Argus cut shares of McDonald's from a "buy" rating to a "hold" rating in a report on Friday, June 13th. Robert W. Baird lifted their price objective on shares of McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Citigroup lifted their price objective on shares of McDonald's from $353.00 to $364.00 and gave the company a "buy" rating in a report on Friday, May 2nd. BTIG Research reiterated a "neutral" rating on shares of McDonald's in a report on Tuesday, April 22nd. Finally, Truist Financial set a $350.00 price objective on shares of McDonald's in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $321.17.

Insider Activity

In other news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total value of $270,920.28. Following the sale, the insider owned 10,222 shares of the company's stock, valued at $2,949,251.44. The trade was a 8.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 2,817 shares of company stock valued at $865,843 over the last 90 days. Insiders own 0.25% of the company's stock.

About McDonald's

McDonald's Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.