Prospera Private Wealth LLC Buys Shares of 5,230 McDonald’s Co. (NYSE:MCD)

Prospera Private Wealth LLC purchased a new position in McDonald’s Co. (NYSE:MCD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,230 shares of the fast-food giant’s stock, valued at approximately $1,593,000.

Other large investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new position in McDonald’s during the 2nd quarter valued at about $6,612,000. Kennebec Savings Bank purchased a new position in McDonald’s during the third quarter valued at approximately $1,394,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in 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 valued at $35,194,000 after acquiring an additional 51,210 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in McDonald’s by 6.5% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after acquiring an additional 2,997 shares during the period. Finally, Quintet Private Bank Europe S.A. lifted its stake in McDonald’s by 17.1% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 49,318 shares of the fast-food giant’s stock worth $15,018,000 after purchasing an additional 7,200 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

McDonald’s Price Performance

MCD opened at $290.68 on Wednesday. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The business has a 50 day simple moving average of $300.04 and a two-hundred day simple moving average of $277.75. The firm has a market capitalization of $208.31 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 3.89 and a beta of 0.74.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.19 earnings per share. As a group, sell-side analysts expect that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.44%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 62.16%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MCD. The Goldman Sachs Group boosted their price target on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Truist Financial decreased their target price on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft cut their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Loop Capital reissued a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Finally, TD Cowen reissued a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a report on Tuesday, October 29th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

Insider Buying and Selling

In related news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $459,435.60. This represents a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the sale, the insider now owns 10,385 shares in the company, valued at approximately $3,036,366.30. This trade represents a 9.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,596 shares of company stock valued at $10,698,289 over the last three months. Corporate 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.