McDonald’s Corporation $MCD Stake Lowered by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. reduced its stake in shares of McDonald’s Corporation (NYSE:MCD) by 53.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 24,901 shares of the fast-food giant’s stock after selling 29,091 shares during the period. Atria Wealth Solutions Inc.’s holdings in McDonald’s were worth $7,279,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MCD. First American Trust FSB lifted its stake in shares of McDonald’s by 55.9% in the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock valued at $11,532,000 after purchasing an additional 13,234 shares during the last quarter. Banque Transatlantique SA lifted its stake in shares of McDonald’s by 58.0% in the 1st quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock valued at $71,829,000 after purchasing an additional 91,313 shares during the last quarter. Hamilton Capital LLC lifted its stake in shares of McDonald’s by 35.2% in the 1st quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock valued at $982,000 after purchasing an additional 819 shares during the last quarter. Red Door Wealth Management LLC lifted its stake in shares of McDonald’s by 1.9% in the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant’s stock valued at $1,788,000 after purchasing an additional 109 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of McDonald’s by 5.6% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant’s stock valued at $107,867,000 after purchasing an additional 18,393 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MCD shares. BMO Capital Markets lifted their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Royal Bank Of Canada started coverage on shares of McDonald’s in a research note on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price objective for the company. Piper Sandler lifted their price objective on shares of McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Bank of America reduced their price objective on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Finally, Citigroup boosted their target price on shares of McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $325.18.

Insider Activity at McDonald’s

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the transaction, the chief marketing officer owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the company’s 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 transaction, the executive vice president directly owned 99 shares of the company’s stock, valued at $30,690. This represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,402 shares of company stock worth $1,973,407 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

McDonald’s stock opened at $300.10 on Tuesday. The firm has a market cap of $214.15 billion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 3.12 and a beta of 0.50. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The firm has a fifty day moving average price of $306.23 and a two-hundred day moving average price of $305.64.

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

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a dividend of $1.77 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.4%. McDonald’s’s dividend payout ratio is currently 60.67%.

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.