Atria Wealth Solutions Inc. Has $16.87 Million Stock Position in McDonald's Corporation (NYSE:MCD)

Key Points

• Atria Wealth Solutions Inc. reduced its stake in McDonald's Corporation by 2.5%, selling 1,376 shares in the first quarter, leaving them with 53,992 shares valued at approximately $16.87 million.
• McDonald's announced a quarterly dividend of $1.77 per share, yielding 2.3%, with the payment to be issued on September 16th.
• Analysts have a consensus rating of "Hold" on McDonald's stock, with an average price target of $323.39 following a mix of buy, hold, and sell ratings from various firms.

Atria Wealth Solutions Inc. reduced its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,992 shares of the fast-food giant's stock after selling 1,376 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in McDonald's were worth $16,865,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Red Door Wealth Management LLC increased its position 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 worth $1,788,000 after purchasing an additional 109 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in McDonald's by 5.6% in the first 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 buying an additional 18,393 shares during the last quarter. Sagespring Wealth Partners LLC raised its stake in McDonald's by 22.9% during the first quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant's stock valued at $5,381,000 after buying an additional 3,212 shares in the last quarter. Segment Wealth Management LLC lifted its holdings in McDonald's by 1.7% during the 1st quarter. Segment Wealth Management LLC now owns 54,672 shares of the fast-food giant's stock worth $17,078,000 after buying an additional 937 shares during the last quarter. Finally, Great Waters Wealth Management bought a new position in McDonald's during the 1st quarter worth approximately $864,000. Institutional investors and hedge funds own 70.29% of the company's stock.

Analyst Upgrades and Downgrades

MCD has been the topic of several research reports. TD Securities reissued a "hold" rating and set a $305.00 price target on shares of McDonald's in a research report on Thursday, June 5th. The Goldman Sachs Group raised shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 target price on the stock in a report on Thursday, July 10th. Melius initiated coverage on shares of McDonald's in a research report on Monday, July 14th. They issued a "sell" rating and a $250.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of McDonald's from $305.00 to $310.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Argus cut shares of McDonald's from a "buy" rating to a "hold" rating in a report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $326.00.

Insider Activity

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. The trade was a 22.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief marketing officer owned 8,858 shares in the company, valued at approximately $2,657,400. This trade represents a 10.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,280 shares of company stock worth $2,215,178. Corporate insiders own 0.25% of the company's stock.

McDonald's Stock Performance

Shares of MCD stock traded up $0.24 during midday trading on Thursday, reaching $307.90. 3,600,765 shares of the company were exchanged, compared to its average volume of 3,770,135. The company's 50 day moving average price is $298.73 and its two-hundred day moving average price is $304.17. The company has a market cap of $220.16 billion, a P/E ratio of 26.38, a PEG ratio of 3.22 and a beta of 0.52. McDonald's Corporation has a 12 month low of $265.33 and a 12 month high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) 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. McDonald's had a negative return on equity of 206.70% and a net margin of 32.21%. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the prior year, the firm posted $2.97 earnings per share. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $1.77 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. McDonald's's dividend payout ratio (DPR) is 60.67%.

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.