Prio Wealth Limited Partnership Sells 3,510 Shares of McDonald’s Co. (NYSE:MCD)

Prio Wealth Limited Partnership lowered its stake in McDonald’s Co. (NYSE:MCD) by 9.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,560 shares of the fast-food giant’s stock after selling 3,510 shares during the quarter. Prio Wealth Limited Partnership’s holdings in McDonald’s were worth $9,915,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MCD. Douglas Lane & Associates LLC increased its stake in shares of McDonald’s by 12.0% in the 1st quarter. Douglas Lane & Associates LLC now owns 2,196 shares of the fast-food giant’s stock valued at $619,000 after acquiring an additional 236 shares in the last quarter. CGN Advisors LLC increased its stake in McDonald’s by 3.8% during the 1st quarter. CGN Advisors LLC now owns 9,917 shares of the fast-food giant’s stock valued at $2,796,000 after purchasing an additional 359 shares in the last quarter. Austin Private Wealth LLC increased its stake in McDonald’s by 12.0% during the 1st quarter. Austin Private Wealth LLC now owns 2,356 shares of the fast-food giant’s stock valued at $649,000 after purchasing an additional 253 shares in the last quarter. Strong Tower Advisory Services increased its stake in McDonald’s by 12.8% during the 1st quarter. Strong Tower Advisory Services now owns 3,890 shares of the fast-food giant’s stock valued at $1,090,000 after purchasing an additional 440 shares in the last quarter. Finally, Annex Advisory Services LLC increased its stake in McDonald’s by 40.8% during the 1st quarter. Annex Advisory Services LLC now owns 2,894 shares of the fast-food giant’s stock valued at $816,000 after purchasing an additional 838 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares in the company, valued at approximately $3,557,060. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. 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 34,097 shares of company stock worth $10,221,233. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

NYSE MCD traded down $1.26 during trading on Monday, hitting $315.30. 424,976 shares of the company’s stock traded hands, compared to its average volume of 3,342,021. The stock has a market capitalization of $227.23 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The business has a 50 day moving average of $294.62 and a 200-day moving average of $273.69.

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). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the prior year, the company earned $3.17 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, analysts expect that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.25%. McDonald’s’s dividend payout ratio is currently 60.10%.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of recent research reports. Bank of America decreased their price target on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Stifel Nicolaus decreased their price target on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Robert W. Baird boosted their price target on shares of McDonald’s from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. UBS Group upped their target price on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Wedbush reiterated an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a research note on Monday, July 29th. Ten equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus target price of $316.96.

McDonald’s Company 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.