Atomi Financial Group Inc. Has $942,000 Position in McDonald’s Co. (NYSE:MCD)

Atomi Financial Group Inc. reduced its stake in shares of McDonald’s Co. (NYSE:MCD) by 6.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,697 shares of the fast-food giant’s stock after selling 241 shares during the quarter. Atomi Financial Group Inc.’s holdings in McDonald’s were worth $942,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Aigen Investment Management LP acquired a new position in shares of McDonald’s during the 4th quarter worth about $4,286,000. Strait & Sound Wealth Management LLC bought a new position in shares of McDonald’s during the 4th quarter valued at about $211,000. Choreo LLC lifted its holdings in shares of McDonald’s by 22.0% during the 4th quarter. Choreo LLC now owns 23,244 shares of the fast-food giant’s stock valued at $6,892,000 after purchasing an additional 4,190 shares in the last quarter. Vestor Capital LLC lifted its holdings in shares of McDonald’s by 40.4% during the 4th quarter. Vestor Capital LLC now owns 74,427 shares of the fast-food giant’s stock valued at $22,068,000 after purchasing an additional 21,413 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of McDonald’s by 1.4% during the 4th quarter. California State Teachers Retirement System now owns 1,180,928 shares of the fast-food giant’s stock valued at $350,157,000 after purchasing an additional 15,863 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Performance

Shares of McDonald’s stock traded up $0.96 during mid-day trading on Tuesday, hitting $289.64. 2,896,890 shares of the stock were exchanged, compared to its average volume of 3,541,204. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39. The company has a 50-day simple moving average of $262.85 and a 200 day simple moving average of $270.77. The company has a market capitalization of $208.74 billion, a P/E ratio of 24.59, a P/E/G ratio of 3.58 and a beta of 0.71.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data 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). The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.17 EPS. Analysts predict that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MCD shares. Deutsche Bank Aktiengesellschaft cut their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Evercore ISI lifted their price objective on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Wedbush reiterated an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a report on Monday, July 29th. Jefferies Financial Group cut their price objective on McDonald’s from $320.00 to $310.00 and set a “buy” rating on the stock in a report on Monday, July 29th. Finally, Truist Financial cut their target price on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $303.71.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the transaction, 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 through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the transaction, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,793 shares of company stock valued at $1,260,106. Company insiders own 0.23% of the company’s stock.

McDonald’s 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.