Atlantic Union Bankshares Corp Grows Stock Position in McDonald’s Corporation $MCD

Atlantic Union Bankshares Corp increased its stake in McDonald’s Corporation (NYSE:MCD) by 213.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 84,982 shares of the fast-food giant’s stock after purchasing an additional 57,873 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in McDonald’s were worth $24,829,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Asahi Life Asset Management CO. LTD. raised its holdings in McDonald’s by 4.9% in the 2nd quarter. Asahi Life Asset Management CO. LTD. now owns 9,312 shares of the fast-food giant’s stock worth $2,721,000 after purchasing an additional 434 shares during the period. First Horizon Advisors Inc. raised its holdings in McDonald’s by 2.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 141,353 shares of the fast-food giant’s stock worth $41,299,000 after purchasing an additional 3,599 shares during the period. Trillium Asset Management LLC raised its holdings in McDonald’s by 9.4% in the 2nd quarter. Trillium Asset Management LLC now owns 1,338 shares of the fast-food giant’s stock worth $391,000 after purchasing an additional 115 shares during the period. Fourth Dimension Wealth LLC raised its holdings in McDonald’s by 88.2% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 1,974 shares of the fast-food giant’s stock worth $577,000 after purchasing an additional 925 shares during the period. Finally, Jacobson & Schmitt Advisors LLC bought a new position in McDonald’s in the 2nd quarter worth $220,000. 70.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MCD shares. Guggenheim decreased their target price on McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. Piper Sandler reaffirmed a “neutral” rating and issued a $325.00 target price on shares of McDonald’s in a report on Wednesday, October 22nd. Royal Bank Of Canada initiated coverage on McDonald’s in a report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 target price on the stock. Wells Fargo & Company decreased their price target on McDonald’s from $350.00 to $340.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Finally, Mizuho raised McDonald’s to a “hold” rating in a report on Tuesday, October 28th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $323.43.

McDonald’s Stock Up 1.9%

NYSE:MCD opened at $305.01 on Thursday. The business’s 50-day simple moving average is $304.94 and its two-hundred day simple moving average is $305.25. The stock has a market cap of $217.66 billion, a PE ratio of 26.14, a P/E/G ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.10 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.23 EPS. Sell-side analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $1.86 per share. The ex-dividend date is Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is 63.75%.

Insider Transactions at McDonald’s

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the transaction, the chief marketing officer owned 6,858 shares in the company, valued at $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the transaction, the executive vice president owned 99 shares of the company’s stock, valued at approximately $30,690. The trade was a 90.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.25% 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.