McDonald’s Co. (NYSE:MCD) Shares Sold by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors cut its stake in McDonald’s Co. (NYSE:MCD) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,216 shares of the fast-food giant’s stock after selling 93 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in McDonald’s were worth $675,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Concentric Wealth Management LLC boosted its position in McDonald’s by 1.4% during the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after purchasing an additional 35 shares during the last quarter. Founders Financial Alliance LLC grew its position in shares of McDonald’s by 0.7% in the 2nd quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock valued at $1,269,000 after acquiring an additional 36 shares during the period. 9258 Wealth Management LLC raised its holdings in shares of McDonald’s by 1.3% in the 1st quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after purchasing an additional 37 shares during the period. Cohen Investment Advisors LLC increased its position in McDonald’s by 0.4% during the third quarter. Cohen Investment Advisors LLC now owns 10,049 shares of the fast-food giant’s stock worth $3,060,000 after buying an additional 37 shares during the last quarter. Finally, Independence Bank of Kentucky boosted its stake in shares of McDonald’s by 1.3% during the 1st quarter. Independence Bank of Kentucky now owns 2,913 shares of the fast-food giant’s stock worth $821,000 after acquiring an additional 38 shares during the period. 70.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Truist Financial reduced their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Barclays reduced their price target on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Loop Capital restated a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a research note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $310.50.

Insider Activity at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 9,291 shares of McDonald’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $305.00, for a total value of $2,833,755.00. Following the completion of the transaction, the chief executive officer now directly owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Christopher J. Kempczinski sold 9,291 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the completion of the sale, the chief executive officer now owns 43,256 shares of the company’s stock, valued at $13,193,080. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 31,751 shares of company stock worth $9,493,973 over the last quarter. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Up 0.6 %

Shares of NYSE:MCD opened at $303.84 on Thursday. The business has a fifty day simple moving average of $288.17 and a 200 day simple moving average of $271.98. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $306.96. The firm has a market cap of $218.97 billion, a P/E ratio of 25.79, a P/E/G ratio of 3.99 and a beta of 0.73.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. McDonald’s’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.17 earnings per share. As a group, equities research analysts expect that McDonald’s Co. will post 11.69 EPS for the current year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is currently 60.10%.

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.