King Luther Capital Management Corp Sells 2,184 Shares of McDonald's Co. (NYSE:MCD)

King Luther Capital Management Corp lessened its holdings in shares of McDonald's Co. (NYSE:MCD - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,547 shares of the fast-food giant's stock after selling 2,184 shares during the quarter. King Luther Capital Management Corp's holdings in McDonald's were worth $8,275,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MCD. Legacy Investment Solutions LLC purchased a new position in McDonald's in the 3rd quarter worth approximately $25,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of McDonald's during the 4th quarter worth $27,000. Collier Financial purchased a new position in McDonald's in the fourth quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new position in McDonald's in the third quarter valued at $31,000. Finally, Marshall Investment Management LLC purchased a new stake in McDonald's during the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

Insider Buying and Selling

In other McDonald's news, insider Joseph M. Erlinger sold 1,099 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $291.10, for a total transaction of $319,918.90. Following the completion of the transaction, the insider now owns 8,187 shares of the company's stock, valued at approximately $2,383,235.70. This trade represents a 11.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was 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 approximately $10,155,997.80. This represents a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,504 shares of company stock worth $10,206,575 in the last three months. 0.23% of the stock is owned by corporate insiders.

McDonald's Stock Performance

McDonald's stock opened at $306.65 on Wednesday. McDonald's Co. has a fifty-two week low of $243.53 and a fifty-two week high of $326.32. The stock's 50 day simple moving average is $296.57 and its two-hundred day simple moving average is $296.68. The stock has a market cap of $219.09 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 3.10 and a beta of 0.71.

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

McDonald's Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Monday, March 3rd. McDonald's's dividend payout ratio is presently 62.16%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Citigroup upped their price objective on McDonald's from $336.00 to $360.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. KeyCorp increased their price target on shares of McDonald's from $320.00 to $335.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. Morgan Stanley upped their price target on shares of McDonald's from $336.00 to $340.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. Piper Sandler decreased their price objective on McDonald's from $297.00 to $290.00 and set a "neutral" rating on the stock in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. increased their target price on McDonald's from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $323.61.

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.

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