OneAscent Family Office LLC Sells 785 Shares of McDonald’s Corporation $MCD

OneAscent Family Office LLC lessened its stake in shares of McDonald’s Corporation (NYSE:MCD) by 37.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,309 shares of the fast-food giant’s stock after selling 785 shares during the period. OneAscent Family Office LLC’s holdings in McDonald’s were worth $382,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MCD. Nova Wealth Management Inc. purchased a new position in shares of McDonald’s during the 1st quarter worth about $26,000. HFM Investment Advisors LLC bought a new stake in McDonald’s in the first quarter worth about $26,000. GFG Capital LLC bought a new stake in McDonald’s in the second quarter worth about $29,000. Financial Gravity Asset Management Inc. purchased a new position in shares of McDonald’s during the first quarter valued at approximately $31,000. Finally, 1248 Management LLC bought a new position in shares of McDonald’s during the first quarter valued at approximately $33,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Evercore ISI boosted their price objective on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 8th. TD Cowen boosted their target price on shares of McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research note on Wednesday, August 6th. Mizuho raised shares of McDonald’s to a “hold” rating in a research note on Tuesday, October 28th. The Goldman Sachs Group upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective for the company in a report on Thursday, July 10th. Finally, Citigroup dropped their target price on shares of McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, October 21st. Eleven research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $323.43.

McDonald’s Stock Performance

NYSE:MCD opened at $305.01 on Thursday. The firm has a 50-day simple moving average of $304.94 and a 200-day simple moving average of $305.25. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32. The firm has a market cap of $217.66 billion, a P/E ratio of 26.14, a P/E/G ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.11). The business had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.10 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.23 earnings per share. On average, research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $1.86 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is currently 63.75%.

Insider Transactions at McDonald’s

In other news, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the sale, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at $2,160,270. The trade was a 12.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is owned by company insiders.

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.