Kayne Anderson Rudnick Investment Management LLC Has $9.41 Million Stock Holdings in McDonald's Corporation $MCD

Key Points

• Kayne Anderson Rudnick Investment Management LLC decreased its stake in McDonald's Corporation by 13.3%, selling 4,599 shares, and now holds 30,107 shares valued at approximately $9.4 million.
• Insiders at McDonald's, including the CMO and EVP, have sold shares recently, with total insider sales amounting to over $2.2 million in the last quarter, indicating potential shifts in confidence.
• McDonald's reported a 5.4% year-over-year revenue increase for its recent quarter, achieving $6.84 billion, and has declared a quarterly dividend of $1.77 per share, resulting in an annualized yield of 2.3%.

Kayne Anderson Rudnick Investment Management LLC reduced its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 13.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,107 shares of the fast-food giant's stock after selling 4,599 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in McDonald's were worth $9,405,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First American Trust FSB boosted its stake in shares of McDonald's by 55.9% during the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant's stock worth $11,532,000 after acquiring an additional 13,234 shares in the last quarter. Red Door Wealth Management LLC boosted its stake in shares of McDonald's by 1.9% during the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant's stock worth $1,788,000 after acquiring an additional 109 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of McDonald's by 5.6% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant's stock worth $107,867,000 after acquiring an additional 18,393 shares in the last quarter. Sagespring Wealth Partners LLC boosted its stake in shares of McDonald's by 22.9% during the 1st quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant's stock worth $5,381,000 after acquiring an additional 3,212 shares in the last quarter. Finally, Segment Wealth Management LLC boosted its stake in shares of McDonald's by 1.7% during the 1st quarter. Segment Wealth Management LLC now owns 54,672 shares of the fast-food giant's stock worth $17,078,000 after acquiring an additional 937 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other McDonald's news, EVP Jonathan Banner sold 1,000 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares of the company's stock, valued at $30,690. The trade was a 90.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Edith Morgan Flatley sold 976 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $303.50, for a total value of $296,216.00. Following the completion of the sale, the chief marketing officer directly owned 7,882 shares of the company's stock, valued at $2,392,187. This represents a 11.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,341 shares of company stock worth $2,229,327 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

McDonald's Price Performance

MCD traded up $0.88 during trading on Thursday, reaching $312.31. 3,470,542 shares of the stock traded hands, compared to its average volume of 3,497,968. The stock has a market cap of $222.87 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 3.17 and a beta of 0.52. McDonald's Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The stock's 50-day simple moving average is $300.68 and its two-hundred day simple moving average is $306.17.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.15 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $6.68 billion. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.The business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.97 earnings per share. Research analysts anticipate that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $1.77 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. McDonald's's payout ratio is currently 60.67%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MCD shares. Argus lowered McDonald's from a "buy" rating to a "hold" rating in a research note on Friday, June 13th. Truist Financial increased their target price on McDonald's from $356.00 to $360.00 and gave the company a "buy" rating in a report on Thursday, August 7th. BMO Capital Markets restated an "outperform" rating and issued a $350.00 target price (up previously from $345.00) on shares of McDonald's in a report on Thursday, August 7th. Redburn Atlantic restated a "sell" rating and issued a $260.00 target price (down previously from $319.00) on shares of McDonald's in a report on Tuesday, June 10th. Finally, Bank of America reduced their target price on McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Thirteen investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, McDonald's has a consensus rating of "Hold" and a consensus price target of $326.38.

McDonald's Profile

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.