Kornitzer Capital Management Inc. KS Acquires 628 Shares of McDonald’s Co. (NYSE:MCD)

Kornitzer Capital Management Inc. KS grew its holdings in McDonald’s Co. (NYSE:MCD) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,107 shares of the fast-food giant’s stock after purchasing an additional 628 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in McDonald’s were worth $11,917,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in McDonald’s during the 3rd quarter valued at about $25,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of McDonald’s during the fourth quarter valued at approximately $27,000. Collier Financial purchased a new stake in shares of McDonald’s in the fourth quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in McDonald’s in the third quarter worth approximately $31,000. Finally, Hara Capital LLC purchased a new position in McDonald’s during the 3rd quarter worth $44,000. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MCD shares. Robert W. Baird increased their price target on McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 11th. BMO Capital Markets increased their target price on shares of McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Wells Fargo & Company boosted their price target on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Wedbush increased their price objective 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. Finally, TD Securities reissued a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research note on Monday, February 10th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and a consensus target price of $323.61.

McDonald’s Trading Down 0.5 %

NYSE MCD opened at $308.59 on Tuesday. The stock has a market cap of $221.14 billion, a P/E ratio of 27.09, a P/E/G ratio of 4.08 and a beta of 0.74. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The company has a fifty day simple moving average of $291.98 and a two-hundred day simple moving average of $292.90.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. As a group, sell-side analysts forecast that McDonald’s Co. will post 11.73 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $292.50, for a total transaction of $321,457.50. Following the completion of the sale, the insider now directly owns 9,286 shares in the company, valued at approximately $2,716,155. The trade was a 10.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the completion of the sale, the chief executive officer now owns 32,756 shares in the company, valued at $10,155,997.80. The trade was a 24.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,906 shares of company stock worth $5,406,382 over the last quarter. Insiders own 0.23% 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.