Atticus Wealth Management LLC Increases Holdings in McDonald’s Co. (NYSE:MCD)

Atticus Wealth Management LLC raised its position in McDonald’s Co. (NYSE:MCD) by 5.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,424 shares of the fast-food giant’s stock after buying an additional 181 shares during the period. Atticus Wealth Management LLC’s holdings in McDonald’s were worth $965,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Roffman Miller Associates Inc. PA boosted its position in McDonald’s by 1.7% in the 4th quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant’s stock valued at $46,179,000 after buying an additional 2,546 shares during the last quarter. Shulman DeMeo Asset Management LLC boosted its position in McDonald’s by 12.2% in the 4th quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock valued at $312,000 after buying an additional 114 shares during the last quarter. Aigen Investment Management LP purchased a new position in McDonald’s in the 4th quarter valued at about $4,286,000. Strait & Sound Wealth Management LLC purchased a new position in McDonald’s in the 4th quarter valued at about $211,000. Finally, First National Bank of Mount Dora Trust Investment Services boosted its position in McDonald’s by 2.8% in the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock valued at $3,269,000 after buying an additional 301 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Bank of America cut their target price on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 28th. UBS Group cut their target price on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. BMO Capital Markets cut their target price on shares of McDonald’s from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. upped their target price on shares of McDonald’s from $290.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, June 3rd. Finally, Truist Financial cut their target price on shares of McDonald’s from $337.00 to $320.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $315.14.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the transaction, the insider now directly owns 16,977 shares in the company, valued at $4,696,517.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares in the company, valued at $4,696,517.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan Banner sold 800 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the sale, the executive vice president now owns 19 shares of the company’s stock, valued at $5,225.38. The disclosure for this sale can be found here. Insiders sold 4,095 shares of company stock worth $1,100,625 over the last three months. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Down 1.3 %

NYSE MCD traded down $3.33 on Friday, hitting $254.84. The stock had a trading volume of 8,958,712 shares, compared to its average volume of 3,556,529. McDonald’s Co. has a one year low of $245.73 and a one year high of $302.39. The stock has a market cap of $183.66 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 2.87 and a beta of 0.71. The company’s 50-day moving average is $263.31 and its two-hundred day moving average is $279.19.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.01). The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $2.63 earnings per share. On average, sell-side analysts anticipate that McDonald’s Co. will post 12.19 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Monday, June 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

McDonald’s Company Profile

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.