Atlas Legacy Advisors LLC Invests $694,000 in McDonald’s Co. (NYSE:MCD)

Atlas Legacy Advisors LLC acquired a new stake in McDonald’s Co. (NYSE:MCD) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,395 shares of the fast-food giant’s stock, valued at approximately $694,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in shares of McDonald’s by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock valued at $4,833,510,000 after acquiring an additional 220,365 shares during the period. Wellington Management Group LLP grew its holdings in McDonald’s by 0.9% during the third quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after purchasing an additional 128,800 shares during the period. Charles Schwab Investment Management Inc. increased its stake in McDonald’s by 0.9% in 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. Janus Henderson Group PLC raised its holdings in McDonald’s by 0.7% in the third quarter. Janus Henderson Group PLC now owns 2,765,049 shares of the fast-food giant’s stock worth $841,966,000 after purchasing an additional 19,867 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after purchasing an additional 2,311,721 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $292.50, for a total value of $321,457.50. Following the sale, the insider now owns 9,286 shares in the company, valued at $2,716,155. This represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total value of $436,134.05. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $453,882. The trade was a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,906 shares of company stock valued at $5,406,382. 0.23% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Piper Sandler lowered their price objective on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Loop Capital restated a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a report on Friday, January 3rd. Robert W. Baird raised their price target on McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 11th. Barclays boosted their price objective on McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $323.61.

McDonald’s Stock Down 1.2 %

MCD stock opened at $304.85 on Wednesday. The company has a market cap of $218.46 billion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 3.16 and a beta of 0.74. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The business has a 50 day moving average price of $292.20 and a two-hundred day moving average price of $293.38.

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

McDonald’s Dividend Announcement

The company 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 dividend of $1.77 per share. The ex-dividend date is Monday, March 3rd. This represents a $7.08 annualized dividend and a dividend yield of 2.32%. McDonald’s’s dividend payout ratio is presently 62.16%.

McDonald’s 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.