McDonald’s Co. (NYSE:MCD) Position Decreased by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp reduced its holdings in McDonald’s Co. (NYSE:MCD) by 4.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,763 shares of the fast-food giant’s stock after selling 1,189 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in McDonald’s were worth $8,759,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Icon Wealth Advisors LLC boosted its position in McDonald’s by 0.6% during the 3rd quarter. Icon Wealth Advisors LLC now owns 15,367 shares of the fast-food giant’s stock worth $4,679,000 after acquiring an additional 91 shares during the period. Rockefeller Capital Management L.P. increased its stake in McDonald’s by 1.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 538,195 shares of the fast-food giant’s stock valued at $163,848,000 after buying an additional 8,019 shares during the period. CWS Financial Advisors LLC lifted its position in McDonald’s by 0.7% in the 3rd quarter. CWS Financial Advisors LLC now owns 7,731 shares of the fast-food giant’s stock worth $2,354,000 after buying an additional 54 shares in the last quarter. Isthmus Partners LLC boosted its stake in shares of McDonald’s by 2.2% during the 3rd quarter. Isthmus Partners LLC now owns 52,609 shares of the fast-food giant’s stock valued at $16,020,000 after buying an additional 1,114 shares during the period. Finally, Vinva Investment Management Ltd grew its holdings in shares of McDonald’s by 28.7% during the 3rd quarter. Vinva Investment Management Ltd now owns 13,773 shares of the fast-food giant’s stock valued at $4,183,000 after acquiring an additional 3,074 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCD has been the subject of several recent research reports. Citigroup increased their price objective on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Evercore ISI raised their price target on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Wells Fargo & Company boosted their price target on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Morgan Stanley lifted their target price on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, TD Cowen restated a “hold” rating and set a $300.00 price target on shares of McDonald’s in a research note on Tuesday, October 29th. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Stock Performance

Shares of MCD opened at $295.08 on Friday. The company has a 50-day simple moving average of $299.98 and a 200-day simple moving average of $278.78. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The firm has a market capitalization of $211.46 billion, a P/E ratio of 25.91, a P/E/G ratio of 3.92 and a beta of 0.74.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.19 EPS. As a group, equities analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.40%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 58.65%.

Insider Buying and Selling at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 19.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. This trade represents a 48.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,597 shares of company stock valued at $10,702,754 in the last 90 days. 0.23% of the stock is currently owned by company insiders.

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.