Prosperity Consulting Group LLC Has $5.64 Million Stock Holdings in McDonald’s Corporation $MCD

Prosperity Consulting Group LLC cut its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,299 shares of the fast-food giant’s stock after selling 493 shares during the period. Prosperity Consulting Group LLC’s holdings in McDonald’s were worth $5,639,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Nova Wealth Management Inc. acquired a new stake in McDonald’s during the 1st quarter worth approximately $26,000. HFM Investment Advisors LLC acquired a new stake in McDonald’s during the 1st quarter worth approximately $26,000. Abound Financial LLC acquired a new stake in McDonald’s during the 1st quarter worth approximately $30,000. GFG Capital LLC acquired a new stake in McDonald’s during the 2nd quarter worth approximately $29,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of McDonald’s in the 1st quarter worth approximately $31,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MCD has been the topic of a number of recent analyst reports. 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. Evercore ISI boosted their price target on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Morgan Stanley set a $335.00 price target on shares of McDonald’s in a research report on Friday, October 17th. JPMorgan Chase & Co. boosted their price target on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Finally, BTIG Research restated a “neutral” rating on shares of McDonald’s in a research report on Friday, October 24th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $323.43.

McDonald’s Stock Down 0.8%

NYSE:MCD opened at $296.09 on Tuesday. The company has a fifty day moving average of $305.35 and a 200-day moving average of $305.33. The firm has a market capitalization of $211.29 billion, a P/E ratio of 25.37, a P/E/G ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32.

McDonald’s (NYSE:MCD) last released 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. The company had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. McDonald’s’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.97 EPS. On average, analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $1.86 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a yield of 2.5%. McDonald’s’s dividend payout ratio (DPR) is presently 63.75%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the sale, the executive vice president owned 8,754 shares of the company’s stock, valued at $2,713,740. This trade represents a 22.12% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 4,487 shares of company stock worth $1,395,970. 0.25% of the stock is owned by corporate insiders.

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.