Atomi Financial Group Inc. Buys 802 Shares of McDonald’s Co. (NYSE:MCD)

Atomi Financial Group Inc. grew its holdings in shares of McDonald’s Co. (NYSE:MCD) by 21.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,499 shares of the fast-food giant’s stock after acquiring an additional 802 shares during the quarter. Atomi Financial Group Inc.’s holdings in McDonald’s were worth $1,370,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hantz Financial Services Inc. purchased a new position in shares of McDonald’s during the second quarter worth about $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of McDonald’s by 58.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after purchasing an additional 51,210 shares in the last quarter. Brevan Howard Capital Management LP grew its holdings in shares of McDonald’s by 411.4% during the fourth quarter. Brevan Howard Capital Management LP now owns 7,497 shares of the fast-food giant’s stock worth $2,223,000 after purchasing an additional 6,031 shares in the last quarter. BNP Paribas purchased a new position in shares of McDonald’s during the first quarter worth about $7,898,000. Finally, First Long Island Investors LLC grew its holdings in shares of McDonald’s by 16.6% during the first quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock worth $15,231,000 after purchasing an additional 7,707 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MCD shares. Robert W. Baird boosted their target price on McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. KeyCorp boosted their target price on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday. TD Cowen restated a “hold” rating and issued a $280.00 target price on shares of McDonald’s in a research report on Monday, September 23rd. BMO Capital Markets dropped their target price on McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Finally, Loop Capital restated a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a research report on Tuesday, September 10th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $310.12.

McDonald’s Stock Up 0.3 %

Shares of MCD stock opened at $301.90 on Wednesday. The stock has a market cap of $217.57 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 3.99 and a beta of 0.73. The business’s fifty day moving average is $287.46 and its 200 day moving average is $271.84. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $306.96.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. McDonald’s’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $3.17 earnings per share. Equities research analysts expect that McDonald’s Co. will post 11.69 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is currently 60.10%.

Insider Transactions at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 9,291 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $305.00, for a total value of $2,833,755.00. Following the sale, the chief executive officer now directly owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $305.00, for a total value of $2,833,755.00. Following the transaction, the chief executive officer now directly owns 43,256 shares in the company, valued at approximately $13,193,080. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,751 shares of company stock valued at $9,493,973. Insiders own 0.23% of the company’s stock.

About McDonald’s

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.