Atlantic Union Bankshares Corp Purchases 1,702 Shares of McDonald’s Co. (NYSE:MCD)

Atlantic Union Bankshares Corp lifted its stake in shares of McDonald’s Co. (NYSE:MCD) by 6.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,952 shares of the fast-food giant’s stock after buying an additional 1,702 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in McDonald’s were worth $7,633,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of MCD. Norges Bank acquired a new stake in shares of McDonald’s during the 4th quarter worth approximately $2,684,899,000. Gallagher Fiduciary Advisors LLC grew its position in shares of McDonald’s by 141,160.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after buying an additional 5,609,736 shares during the period. Capital Research Global Investors grew its position in shares of McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after buying an additional 2,193,769 shares during the period. Swedbank AB acquired a new stake in McDonald’s in the 1st quarter valued at $348,206,000. Finally, Capital World Investors grew its position in McDonald’s by 39.7% in the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after purchasing an additional 1,012,534 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

MCD has been the subject of several research reports. Guggenheim lifted their price target on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Truist Financial reduced their price target on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Citigroup reduced their price target on shares of McDonald’s from $280.00 to $275.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Jefferies Financial Group reduced their price target on shares of McDonald’s from $320.00 to $310.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Finally, BMO Capital Markets reduced their price target on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $303.71.

McDonald’s Price Performance

Shares of MCD traded up $0.31 during midday trading on Friday, hitting $289.52. 2,145,946 shares of the company traded hands, compared to its average volume of 3,554,448. The stock has a 50-day moving average of $262.15 and a 200-day moving average of $271.00. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39. The firm has a market cap of $208.65 billion, a P/E ratio of 24.58, a PEG ratio of 3.58 and a beta of 0.71.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.92%. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the prior year, the company earned $3.17 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. Sell-side analysts forecast that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s dividend payout ratio is presently 56.71%.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the sale, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the transaction, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The disclosure for this sale can be found here. Insiders have sold a total of 4,793 shares of company stock worth $1,260,106 over the last ninety days. Company insiders own 0.23% of the company’s stock.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.