Prosperity Consulting Group LLC Cuts Stock Holdings in McDonald’s Corporation $MCD

Prosperity Consulting Group LLC trimmed its position in shares of McDonald’s Corporation (NYSE:MCD) by 2.5% during the second quarter, Holdings Channel.com reports. The fund owned 19,299 shares of the fast-food giant’s stock after selling 493 shares during the quarter. Prosperity Consulting Group LLC’s holdings in McDonald’s were worth $5,639,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MCD. HFM Investment Advisors LLC purchased a new position in McDonald’s during the 1st quarter worth $26,000. Nova Wealth Management Inc. purchased a new position in McDonald’s during the 1st quarter worth $26,000. GFG Capital LLC purchased a new position in McDonald’s during the 2nd quarter worth $29,000. Abound Financial LLC purchased a new position in McDonald’s during the 1st quarter worth $30,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in McDonald’s during the 1st quarter worth $31,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MCD. TD Cowen lifted their price objective on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, August 6th. KeyCorp restated an “overweight” rating and set a $335.00 price objective on shares of McDonald’s in a report on Monday, October 20th. Mizuho raised shares of McDonald’s to a “hold” rating in a research report on Tuesday, October 28th. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a research report on Friday, October 24th. Finally, Morgan Stanley set a $335.00 price target on shares of McDonald’s in a report on Friday, October 17th. Eleven analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, McDonald’s currently has a consensus rating of “Hold” and a consensus price target of $323.43.

Insider Buying and Selling

In related news, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the transaction, the executive vice president directly owned 99 shares of the company’s stock, valued at approximately $30,690. This trade represents a 90.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 4,487 shares of company stock valued at $1,395,970. Company insiders own 0.25% of the company’s stock.

McDonald’s Stock Down 0.8%

NYSE MCD opened at $296.09 on Tuesday. The company’s 50 day moving average is $305.35 and its 200-day moving average is $305.33. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The firm has a market cap of $211.29 billion, a P/E ratio of 25.37, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.15 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $2.97 EPS. Equities analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $1.86 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Monday, December 1st. This represents a $7.44 annualized dividend and a yield of 2.5%. McDonald’s’s payout ratio is 63.75%.

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.