OneAscent Financial Services LLC Purchases 4,261 Shares of McDonald’s Corporation (NYSE:MCD)

OneAscent Financial Services LLC boosted its position in McDonald’s Corporation (NYSE:MCD) by 134.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 7,428 shares of the fast-food giant’s stock after acquiring an additional 4,261 shares during the quarter. OneAscent Financial Services LLC’s holdings in McDonald’s were worth $2,326,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Red Door Wealth Management LLC increased its holdings in McDonald’s by 1.9% during the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant’s stock worth $1,788,000 after purchasing an additional 109 shares in the last quarter. Aviva PLC increased its holdings in McDonald’s by 5.6% during the 4th quarter. Aviva PLC now owns 432,406 shares of the fast-food giant’s stock worth $125,350,000 after purchasing an additional 23,024 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in McDonald’s by 5.6% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant’s stock worth $107,867,000 after purchasing an additional 18,393 shares in the last quarter. Sagespring Wealth Partners LLC increased its holdings in McDonald’s by 22.9% during the 1st quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant’s stock worth $5,381,000 after purchasing an additional 3,212 shares in the last quarter. Finally, Segment Wealth Management LLC increased its holdings in McDonald’s by 1.7% during the 1st quarter. Segment Wealth Management LLC now owns 54,672 shares of the fast-food giant’s stock worth $17,078,000 after purchasing an additional 937 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MCD. Bank of America reduced their target price on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a report on Friday. BTIG Research reiterated a “neutral” rating on shares of McDonald’s in a research note on Tuesday, April 22nd. Citigroup upped their price objective on McDonald’s from $364.00 to $365.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Argus downgraded McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. Finally, Melius initiated coverage on McDonald’s in a research note on Monday, July 14th. They issued a “sell” rating and a $250.00 price objective on the stock. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $319.72.

McDonald’s Trading Down 1.2%

McDonald’s stock opened at $296.87 on Friday. The firm has a 50-day moving average of $302.50 and a 200-day moving average of $302.81. The firm has a market cap of $212.27 billion, a P/E ratio of 26.20, a P/E/G ratio of 3.07 and a beta of 0.53. McDonald’s Corporation has a 1-year low of $246.12 and a 1-year high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting the consensus estimate of $2.67. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. During the same period last year, the business posted $2.70 earnings per share. McDonald’s’s quarterly revenue was down 3.5% compared to the same quarter last year. Research analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $1.77 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.38%. McDonald’s’s payout ratio is 62.49%.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the completion of the sale, the insider owned 10,222 shares of the company’s stock, valued at $2,949,251.44. This trade represents a 8.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the sale, the chief marketing officer directly owned 8,858 shares of the company’s stock, valued at $2,657,400. This trade represents a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,817 shares of company stock valued at $1,165,843 over the last quarter. Company insiders own 0.25% of the company’s stock.

McDonald’s Profile

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.