Albion Financial Group UT Has $8.59 Million Holdings in McDonald’s Corporation $MCD

Albion Financial Group UT lessened its stake in McDonald’s Corporation (NYSE:MCD) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,406 shares of the fast-food giant’s stock after selling 142 shares during the quarter. Albion Financial Group UT’s holdings in McDonald’s were worth $8,592,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Nuveen LLC acquired a new position in McDonald’s during the first quarter worth $1,324,961,000. Price T Rowe Associates Inc. MD boosted its holdings in McDonald’s by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after purchasing an additional 1,344,954 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in McDonald’s by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after purchasing an additional 815,768 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in McDonald’s by 732.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock worth $203,211,000 after purchasing an additional 572,408 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in McDonald’s by 204.8% during the second quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock worth $177,390,000 after purchasing an additional 407,982 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on MCD shares. Argus cut shares of McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. Truist Financial increased their price target on shares of McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. TD Securities reiterated a “hold” rating and issued a $305.00 price target on shares of McDonald’s in a research note on Thursday, June 5th. Evercore ISI increased their price target on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Citigroup increased their price objective on shares of McDonald’s from $373.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $325.86.

McDonald’s Stock Performance

NYSE:MCD opened at $305.10 on Monday. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The firm has a market cap of $217.72 billion, a price-to-earnings ratio of 26.14, a P/E/G ratio of 3.11 and a beta of 0.49. The firm’s 50-day simple moving average is $306.48 and its 200 day simple moving average is $306.25.

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

McDonald’s Dividend Announcement

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

Insider Activity

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president directly owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the sale, the insider owned 9,283 shares in the company, valued at $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,402 shares of company stock valued at $2,273,407. Corporate 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.