Atalanta Sosnoff Capital LLC Trims Position in McDonald's Corporation $MCD

Key Points

• Atalanta Sosnoff Capital LLC decreased its holdings in McDonald's by 0.8%, owning 125,709 shares valued at approximately $39.27 million after the sale of 968 shares.
• McDonald's reported a Q2 earnings per share (EPS) of $3.19, surpassing expectations of $3.15, with revenue reaching $6.84 billion, up 5.4% year-over-year.
• The company announced a quarterly dividend of $1.77, translating to an annualized total of $7.08 and a dividend yield of 2.2%.

Atalanta Sosnoff Capital LLC lowered its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,709 shares of the fast-food giant's stock after selling 968 shares during the quarter. Atalanta Sosnoff Capital LLC's holdings in McDonald's were worth $39,268,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Mascagni Wealth Management Inc. bought a new stake in shares of McDonald's during the 4th quarter valued at about $25,000. Pinney & Scofield Inc. bought a new stake in shares of McDonald's during the 4th quarter valued at about $29,000. Abound Financial LLC bought a new stake in shares of McDonald's during the 1st quarter valued at about $30,000. Copia Wealth Management bought a new stake in shares of McDonald's during the 4th quarter valued at about $31,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of McDonald's during the 1st quarter valued at about $31,000. Institutional investors own 70.29% of the company's stock.

McDonald's Trading Down 0.8%

MCD stock traded down $2.69 during midday trading on Friday, hitting $314.30. The company had a trading volume of 2,533,016 shares, compared to its average volume of 2,961,695. McDonald's Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The stock's 50 day moving average price is $303.87 and its 200 day moving average price is $306.48. The stock has a market cap of $224.28 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 3.20 and a beta of 0.50.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.04. McDonald's had a negative return on equity of 225.52% 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 quarter in the previous year, the company posted $2.97 earnings per share. The business's revenue was up 5.4% on a year-over-year basis. Analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

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

Insider Buying and Selling

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer owned 6,858 shares in the company, valued at approximately $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares of the company's stock, valued at $30,690. The trade was a 90.99% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,341 shares of company stock worth $2,544,327. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Argus downgraded McDonald's from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. Evercore ISI lifted their price target on McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. The Goldman Sachs Group upgraded McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price target for the company in a research report on Thursday, July 10th. Truist Financial boosted their target price on McDonald's from $356.00 to $360.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Melius assumed coverage on McDonald's in a research report on Monday, July 14th. They issued a "sell" rating and a $250.00 target price for the company. Twelve research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $325.35.

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.