Prosperity Consulting Group LLC Has $4.75 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Prosperity Consulting Group LLC cut its holdings in McDonald’s Co. (NYSE:MCD) by 15.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,654 shares of the fast-food giant’s stock after selling 3,516 shares during the period. Prosperity Consulting Group LLC’s holdings in McDonald’s were worth $4,754,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of MCD. Concentric Wealth Management LLC grew its position in shares of McDonald’s by 1.4% during the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after acquiring an additional 35 shares during the period. FinTrust Capital Advisors LLC lifted its position in shares of McDonald’s by 2.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock valued at $376,000 after buying an additional 36 shares during the last quarter. 9258 Wealth Management LLC grew its stake in shares of McDonald’s by 1.3% during the 1st quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock worth $799,000 after acquiring an additional 37 shares during the period. Independence Bank of Kentucky increased its holdings in McDonald’s by 1.3% in the 1st quarter. Independence Bank of Kentucky now owns 2,913 shares of the fast-food giant’s stock worth $821,000 after acquiring an additional 38 shares during the last quarter. Finally, MTM Investment Management LLC raised its stake in McDonald’s by 3.3% in the 1st quarter. MTM Investment Management LLC now owns 1,174 shares of the fast-food giant’s stock valued at $331,000 after acquiring an additional 38 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Tigress Financial increased their target price on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Truist Financial lowered their price target on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Citigroup boosted their price objective on shares of McDonald’s from $275.00 to $301.00 and gave the company a “neutral” rating in a research note on Friday. Loop Capital reissued a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a report on Tuesday. Finally, TD Cowen cut shares of McDonald’s from a “buy” rating to a “hold” rating and decreased their price target for the stock from $285.00 to $280.00 in a report on Wednesday, July 31st. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and an average target price of $305.37.

McDonald’s Stock Up 1.4 %

Shares of MCD opened at $296.55 on Friday. The stock has a market cap of $213.72 billion, a P/E ratio of 25.17, a P/E/G ratio of 3.88 and a beta of 0.72. The business’s 50 day moving average price is $272.89 and its 200-day moving average price is $270.80. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $302.39.

McDonald’s (NYSE:MCD) last announced 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 for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. McDonald’s’s revenue was down .1% on a year-over-year basis. During the same period last year, the business earned $3.17 EPS. On average, equities analysts anticipate that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $1.67 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.25%. McDonald’s’s dividend payout ratio is presently 56.71%.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the transaction, the insider now directly owns 14,780 shares in the company, valued at approximately $3,842,800. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the transaction, the insider now owns 14,780 shares in the company, valued at approximately $3,842,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the sale, the insider now directly owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The disclosure for this sale can be found here. Insiders sold 6,291 shares of company stock valued at $1,689,073 over the last three months. Insiders own 0.23% of the company’s stock.

McDonald’s Profile

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.