Atticus Wealth Management LLC Buys 64 Shares of McDonald’s Corporation $MCD

Atticus Wealth Management LLC lifted its stake in McDonald’s Corporation (NYSE:MCD) by 2.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,752 shares of the fast-food giant’s stock after buying an additional 64 shares during the quarter. Atticus Wealth Management LLC’s holdings in McDonald’s were worth $804,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Mascagni Wealth Management Inc. bought a new position in shares of McDonald’s in the fourth quarter worth about $25,000. HFM Investment Advisors LLC bought a new stake in McDonald’s during the 1st quarter valued at approximately $26,000. Nova Wealth Management Inc. bought a new stake in McDonald’s during the 1st quarter valued at approximately $26,000. Pinney & Scofield Inc. bought a new stake in McDonald’s during the 4th quarter valued at approximately $29,000. Finally, Abound Financial LLC bought a new stake in McDonald’s during the 1st quarter valued at approximately $30,000. Institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the transaction, the executive vice president owned 8,754 shares in the company, valued at $2,713,740. The trade was a 22.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction on 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 can be found here. Insiders have sold 8,341 shares of company stock worth $2,544,327 in the last 90 days. 0.25% of the stock is owned by insiders.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $304.51 on Thursday. The stock has a market cap of $217.30 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 3.09 and a beta of 0.50. The stock has a 50 day moving average price of $305.96 and a 200-day moving average price of $306.49. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter in the previous year, the business earned $2.97 EPS. McDonald’s’s revenue was up 5.4% compared to the same quarter last year. Sell-side analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a dividend of $1.77 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. McDonald’s’s payout ratio is presently 60.67%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MCD. Stifel Nicolaus lifted their target price on McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Friday, August 22nd. Piper Sandler lifted their target price on McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Redburn Atlantic reissued a “sell” rating and set a $260.00 target price (down previously from $319.00) on shares of McDonald’s in a research note on Tuesday, June 10th. Loop Capital downgraded McDonald’s from a “buy” rating to a “hold” rating and decreased their target price for the company from $346.00 to $315.00 in a research note on Friday, June 6th. Finally, TD Cowen lifted their target price on McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research note on Wednesday, August 6th. Eleven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $325.86.

McDonald’s Company 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.