Atlantic Union Bankshares Corp Decreases Position in McDonald’s Co. (NYSE:MCD)

Atlantic Union Bankshares Corp cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.7% during the fourth quarter, HoldingsChannel reports. The firm owned 27,997 shares of the fast-food giant’s stock after selling 766 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in McDonald’s were worth $8,116,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MCD. Raymond James Financial Inc. purchased a new stake in McDonald’s during the fourth quarter valued at approximately $703,074,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of McDonald’s by 542.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock worth $244,174,000 after buying an additional 677,139 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of McDonald’s by 43,591.6% in the fourth quarter. Proficio Capital Partners LLC now owns 590,711 shares of the fast-food giant’s stock worth $171,241,000 after buying an additional 589,359 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of McDonald’s in the third quarter worth approximately $121,254,000. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in shares of McDonald’s by 518.1% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 348,119 shares of the fast-food giant’s stock worth $100,916,000 after buying an additional 291,802 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MCD. TD Securities reiterated a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a report on Monday, February 10th. Truist Financial reduced their price target on McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Loop Capital reiterated a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a report on Friday, January 3rd. Citigroup increased their price objective on McDonald’s from $336.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. increased their price objective on McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and a consensus target price of $323.61.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $291.10, for a total value of $319,918.90. Following the sale, the insider now directly owns 8,187 shares in the company, valued at approximately $2,383,235.70. The trade was a 11.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Tiffanie L. Boyd sold 1,000 shares of McDonald’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $309.27, for a total value of $309,270.00. Following the completion of the sale, the executive vice president now owns 5,564 shares in the company, valued at approximately $1,720,778.28. The trade was a 15.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,504 shares of company stock worth $10,206,575 in the last 90 days. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of MCD stock opened at $321.52 on Friday. The firm has a market capitalization of $229.71 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71. The business has a fifty day moving average of $295.69 and a 200 day moving average of $296.25. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $323.17.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. As a group, equities research analysts expect that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.20%. McDonald’s’s payout ratio is currently 62.16%.

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.