McDonald’s Co. (NYSE:MCD) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp lessened its position in shares of McDonald’s Co. (NYSE:MCD) by 4.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,763 shares of the fast-food giant’s stock after selling 1,189 shares during the period. Atlantic Union Bankshares Corp’s holdings in McDonald’s were worth $8,759,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCD. Kennebec Savings Bank acquired a new stake in McDonald’s during the 3rd quarter worth approximately $1,394,000. Hantz Financial Services Inc. purchased a new position in shares of McDonald’s in the 2nd quarter valued at $6,612,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of McDonald’s by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after acquiring an additional 49,106 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in McDonald’s by 58.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after purchasing an additional 51,210 shares during the period. Finally, U.S. Capital Wealth Advisors LLC boosted its position in McDonald’s by 6.5% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after purchasing an additional 2,997 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This trade represents a 48.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the sale, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at approximately $900,550. This represents a 44.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,597 shares of company stock worth $10,702,754. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Down 0.4 %

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

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the company earned $3.19 earnings per share. Analysts expect that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.40%. McDonald’s’s dividend payout ratio (DPR) is currently 58.65%.

Wall Street Analyst Weigh In

A number of research analysts have commented on MCD shares. BMO Capital Markets boosted their price objective on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $320.00 to $290.00 in a research report on Wednesday, October 23rd. TD Cowen restated a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a research note on Tuesday, October 29th. Guggenheim downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Finally, Baird R W cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $319.46.

About McDonald’s

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.