C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases 1,778 Shares of McDonald’s Co. (NYSE:MCD)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in shares of McDonald’s Co. (NYSE:MCD) by 93.1% in the first quarter, Holdings Channel reports. The institutional investor owned 3,688 shares of the fast-food giant’s stock after buying an additional 1,778 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in McDonald’s were worth $1,040,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Roffman Miller Associates Inc. PA boosted its position in McDonald’s by 1.7% during the fourth quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant’s stock valued at $46,179,000 after purchasing an additional 2,546 shares during the last quarter. Shulman DeMeo Asset Management LLC lifted its position in shares of McDonald’s by 12.2% in the fourth quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock valued at $312,000 after buying an additional 114 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of McDonald’s in the fourth quarter valued at approximately $4,286,000. Strait & Sound Wealth Management LLC acquired a new stake in shares of McDonald’s in the fourth quarter valued at approximately $211,000. Finally, First National Bank of Mount Dora Trust Investment Services lifted its position in shares of McDonald’s by 2.8% in the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock valued at $3,269,000 after buying an additional 301 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Trading Up 1.8 %

Shares of NYSE:MCD traded up $4.38 on Wednesday, reaching $250.20. 3,015,446 shares of the company traded hands, compared to its average volume of 3,428,288. The stock has a market capitalization of $180.31 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 2.79 and a beta of 0.71. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $302.39. The business’s 50-day simple moving average is $259.67 and its 200 day simple moving average is $277.05.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.01). The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.16 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.63 earnings per share. Sell-side analysts expect that McDonald’s Co. will post 12.19 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a dividend of $1.67 per share. The ex-dividend date was Monday, June 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.67%. McDonald’s’s payout ratio is 56.71%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Stifel Nicolaus cut their price objective on McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. The Goldman Sachs Group initiated coverage on McDonald’s in a report on Thursday, June 13th. They set a “neutral” rating and a $288.00 price target for the company. Truist Financial dropped their price target on McDonald’s from $320.00 to $300.00 and set a “buy” rating for the company in a report on Tuesday. Citigroup lowered their price objective on McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Finally, Bank of America decreased their price target on McDonald’s from $302.00 to $288.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 28th. Ten equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $312.82.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the transaction, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $275.02, for a total transaction of $220,016.00. Following the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $5,225.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,593 shares of company stock worth $1,472,518. 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.