Atlantic Union Bankshares Corp Sells 766 Shares of McDonald’s Co. (NYSE:MCD)

Atlantic Union Bankshares Corp cut its position in shares of McDonald’s Co. (NYSE:MCD) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Mattern Capital Management LLC boosted its position in shares of McDonald’s by 2.0% during the fourth quarter. Mattern Capital Management LLC now owns 30,110 shares of the fast-food giant’s stock valued at $8,729,000 after purchasing an additional 579 shares in the last quarter. Bell Bank boosted its position in shares of McDonald’s by 3.0% during the fourth quarter. Bell Bank now owns 12,699 shares of the fast-food giant’s stock valued at $3,681,000 after purchasing an additional 371 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of McDonald’s during the third quarter valued at approximately $1,394,000. YANKCOM Partnership bought a new stake in shares of McDonald’s during the fourth quarter valued at approximately $1,628,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of McDonald’s by 0.9% during the third 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 purchasing an additional 49,106 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’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 completion of the transaction, the insider now owns 8,187 shares of the company’s stock, valued at $2,383,235.70. This represents a 11.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the transaction, the chief executive officer now directly owns 32,756 shares of the company’s stock, valued at approximately $10,155,997.80. This trade represents a 24.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,504 shares of company stock valued at $10,206,575 over the last 90 days. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

MCD has been the subject of a number of recent research reports. Robert W. Baird lifted their price objective on McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Wedbush lifted their price objective on McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. KeyCorp lifted their price objective on McDonald’s from $320.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Piper Sandler lowered their price objective on McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Finally, BMO Capital Markets lifted their price objective on McDonald’s from $335.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $323.61.

McDonald’s Stock Performance

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

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

McDonald’s Announces Dividend

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