McDonald’s Corp. (MCD) Stake Boosted by Atalanta Sosnoff Capital LLC
Atalanta Sosnoff Capital LLC raised its position in McDonald’s Corp. (NYSE:MCD) by 10.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,298 shares of the fast-food giant’s stock after buying an additional 21,381 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in McDonald’s Corp. were worth $27,232,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Rehmann Capital Advisory Group increased its stake in shares of McDonald’s Corp. by 0.3% in the second quarter. Rehmann Capital Advisory Group now owns 9,886 shares of the fast-food giant’s stock worth $1,190,000 after buying an additional 30 shares during the last quarter. Albion Financial Group UT acquired a new stake in shares of McDonald’s Corp. during the second quarter worth $250,000. Cornerstone Advisors Inc. increased its stake in shares of McDonald’s Corp. by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 3,702 shares of the fast-food giant’s stock worth $446,000 after buying an additional 755 shares during the last quarter. Financial Architects Inc increased its stake in shares of McDonald’s Corp. by 15.2% in the second quarter. Financial Architects Inc now owns 15,231 shares of the fast-food giant’s stock worth $1,833,000 after buying an additional 2,015 shares during the last quarter. Finally, RKL Wealth Management LLC increased its stake in shares of McDonald’s Corp. by 3.8% in the second quarter. RKL Wealth Management LLC now owns 47,064 shares of the fast-food giant’s stock worth $5,705,000 after buying an additional 1,707 shares during the last quarter. Hedge funds and other institutional investors own 69.10% of the company’s stock.
McDonald’s Corp. (NYSE:MCD) traded down 0.90% during mid-day trading on Tuesday, reaching $113.68. 3,943,130 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $115.45 and a 200-day moving average price of $121.61. McDonald’s Corp. has a 12-month low of $101.60 and a 12-month high of $131.96. The stock has a market capitalization of $97.01 billion, a PE ratio of 21.71 and a beta of 0.61.
McDonald’s Corp. (NYSE:MCD) last announced its quarterly earnings data on Tuesday, July 26th. The fast-food giant reported $1.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.06. The firm earned $6.27 billion during the quarter, compared to analysts’ expectations of $6.28 billion. McDonald’s Corp. had a net margin of 18.73% and a return on equity of 97.56%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.26 earnings per share. Equities research analysts expect that McDonald’s Corp. will post $5.56 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a $0.94 dividend. The ex-dividend date is Tuesday, November 29th. This is a boost from McDonald’s Corp.’s previous quarterly dividend of $0.89. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.31%. McDonald’s Corp.’s dividend payout ratio is 68.59%.
A number of analysts have weighed in on the company. Telsey Advisory Group assumed coverage on McDonald’s Corp. in a report on Monday. They set an “outperform” rating and a $130.00 price target for the company. Zacks Investment Research downgraded McDonald’s Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Vetr downgraded McDonald’s Corp. from a “buy” rating to a “hold” rating and set a $114.15 price target for the company. in a report on Monday, October 3rd. Credit Suisse Group AG restated an “outperform” rating and issued a $132.00 target price on shares of McDonald’s Corp. in a research note on Friday, September 16th. Finally, Citigroup Inc. reduced their target price on McDonald’s Corp. from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Tuesday, September 13th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $126.01.
In other news, Chairman Andrew J. Mckenna sold 70,000 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $118.28, for a total value of $8,279,600.00. Following the completion of the sale, the chairman now directly owns 108,841 shares of the company’s stock, valued at $12,873,713.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.28% of the stock is currently owned by insiders.
About McDonald’s Corp.
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally-relevant menu of quality food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets and Foundational Markets and Corporate.
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