Kayne Anderson Rudnick Investment Management LLC Sells 987 Shares of McDonald's Co. (NYSE:MCD)

Kayne Anderson Rudnick Investment Management LLC lowered its stake in shares of McDonald's Co. (NYSE:MCD - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,706 shares of the fast-food giant's stock after selling 987 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in McDonald's were worth $10,061,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Atala Financial Inc acquired a new stake in McDonald's during the fourth quarter worth approximately $26,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of McDonald's during the 4th quarter worth $27,000. Collier Financial acquired a new stake in shares of McDonald's during the fourth quarter worth $29,000. Fairway Wealth LLC grew its position in shares of McDonald's by 110.0% in the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant's stock valued at $30,000 after purchasing an additional 55 shares during the period. Finally, GKV Capital Management Co. Inc. acquired a new position in McDonald's in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Price Performance

Shares of MCD traded up $0.38 during midday trading on Friday, reaching $316.60. The stock had a trading volume of 2,282,688 shares, compared to its average volume of 3,573,585. The firm's 50 day moving average price is $308.18 and its 200-day moving average price is $299.80. McDonald's Co. has a 52 week low of $243.53 and a 52 week high of $326.32. The company has a market capitalization of $226.20 billion, a P/E ratio of 27.80, a P/E/G ratio of 3.10 and a beta of 0.62.

McDonald's (NYSE:MCD - Get Free Report) last issued its earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, hitting analysts' consensus estimates of $2.83. McDonald's had a net margin of 31.73% and a negative return on equity of 181.63%. On average, equities analysts forecast that McDonald's Co. will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $1.77 per share. The ex-dividend date was Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.24%. McDonald's's dividend payout ratio is currently 62.16%.

Insider Buying and Selling at McDonald's

In other McDonald's news, CEO Christopher J. Kempczinski sold 10,500 shares of McDonald's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the sale, the chief executive officer now directly owns 32,756 shares in the company, valued at $10,155,997.80. The trade was a 24.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Edith Morgan Flatley sold 3,200 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $300.76, for a total transaction of $962,432.00. Following the transaction, the chief marketing officer now owns 9,858 shares in the company, valued at approximately $2,964,892.08. This trade represents a 24.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,136 shares of company stock valued at $8,676,247 in the last three months. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on MCD. Erste Group Bank upgraded McDonald's from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Wedbush upped their target price on shares of McDonald's from $320.00 to $330.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Piper Sandler lowered their price objective on McDonald's from $297.00 to $290.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Citigroup dropped their target price on shares of McDonald's from $360.00 to $353.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Finally, Bank of America upped their price target on McDonald's from $312.00 to $316.00 and gave the company a "neutral" rating in a research report on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $322.74.

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.