McDonald’s Corporation $MCD Stock Position Increased by Atwater Malick LLC

Atwater Malick LLC boosted its stake in shares of McDonald’s Corporation (NYSE:MCD) by 0.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 39,298 shares of the fast-food giant’s stock after buying an additional 117 shares during the quarter. McDonald’s makes up approximately 3.6% of Atwater Malick LLC’s investment portfolio, making the stock its 10th biggest holding. Atwater Malick LLC’s holdings in McDonald’s were worth $11,482,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of MCD. Nova Wealth Management Inc. bought a new position in McDonald’s in the 1st quarter valued at $26,000. HFM Investment Advisors LLC bought a new position in McDonald’s in the 1st quarter valued at $26,000. Abound Financial LLC bought a new position in McDonald’s in the 1st quarter valued at $30,000. Redmont Wealth Advisors LLC bought a new position in McDonald’s in the 1st quarter valued at $31,000. Finally, Financial Gravity Asset Management Inc. bought a new position in McDonald’s in the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of MCD stock opened at $300.09 on Friday. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The stock’s 50-day moving average is $306.88 and its 200 day moving average is $306.19. The company has a market cap of $214.15 billion, a P/E ratio of 25.71, a PEG ratio of 3.06 and a beta of 0.50.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share 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 for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter last year, the company earned $2.97 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $1.77 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

Insiders Place Their Bets

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the sale, the executive vice president owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,402 shares of company stock valued at $2,273,407. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MCD has been the topic of several research analyst reports. Piper Sandler upped their price objective on McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Stifel Nicolaus increased their price target on McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a research report on Friday, August 22nd. Evercore ISI increased their price target on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Truist Financial increased their price target on McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, Loop Capital downgraded McDonald’s from a “buy” rating to a “hold” rating and dropped their price target for the stock from $346.00 to $315.00 in a research report on Friday, June 6th. Eleven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $325.86.

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.